₹75-lakh threshold could help over 60 lakh MSMEs escape GST net

Over 60 lakh assessees may come out from the Goods and Services Tax (GST) net if the threshold for micro, small and medium enterprises (MSMEs) is raised to ₹75 lakh. A panel led by Minister of State for Finance Shiv Pratap Shukla will meet on January 10 to finalise the recommendations in this regard. “A higher threshold may result in a GST revenue loss of around ₹5,500 crore,” a senior government…