9 Facts You Must Know About the New GST Limit of Rs 40 lakh

The Goods and Services Tax (GST) council in its 32nd meeting held last week announced a lot of changes including the fact that the new limit for registration under GST would be Rs40 lakh. This has been hailed as a major decision to help small taxpayers go out of the tax net and hence the related compliances and costs. However, this limit has come with far too many complications, as explained below…