FinMin notifies April 1 as date for availing increased GST exemption limit, composition scheme

The government Thursday notified April 1 as the date for the implementation of doubling of GST exemption limit to Rs 40 lakh, which will benefit small and medium enterprises. Besides, the effective date for availing higher turnover cap of Rs 1.5 crore for availing composition scheme by traders has also been fixed as April 1. Also, service providers and suppliers of both goods and services with a t…