32nd Council meeting grants huge impetus to MSME sector, approves 1% Calamity Cess in Kerala

32nd GST Council meeting concludes today, with huge impetus granted to MSME sector; Exemption threshold limit for supplier of goods has been increased to Rs. 20 lakhs for north-eastern States and Rs. 40 lakhs for all other States however threshold for registration for service providers remains unchanged; Composition Scheme for service providers as well as suppliers of goods and services (presently not eligible for composition scheme) having turnover upto Rs. 50 lakhs in prece...