GST Council sets the threshold limit has been set at Rs.20 Lakhs. The Finance Minister Mr.Arun Jaitley informed media after the Council Meet.

The threshold limit for North Eastern States is set at Rs.10 Lakhs.

If a trader’s turnover is less than the threshold limit, they will not be covered under the GST.

It is also decided that the State Government authorities will have jurisdiction over assessees having turnover less than Rs. 1.50 Crores. Those with turnover above Rs.1.50 crores there will be cross examination by either Central or State Government authorities in order to avoid dual control. However the power to assess the 11 lakh service tax assessees who are assessed by centre, will remain with it.

The draft rules of exemption will be decided in the next meeting scheduled on September 30th, 2016. The rates and the tax slabs will be decided at the three day meeting of the council to be held from 17th October, 2016.