GST Council announces some relief to small entrepreneurs, exporters
After GST Council's 22nd meeting, FM Arun Jaitley introduced some reforms in India's new tax regime. For exporters, the return of the month July and August will be refunded from Oct 10 and Oct 18 and e-wallet facility will be created for each exporter by April 1, 2018. However, SMEs whose turnover is up to Rs 1.5 crore can file returns quarterly instead of monthly filings, also composition scheme limit raised to 1 crore.