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Current Affairs - Economy - Discussion

Discussion Forum : Economy - Latest Current Affairs (Q.No. 1175)
2019-01-11 Economy
1175.
The exemption limit of which tax is doubled to give relief to small businesses.
Goods and Service Tax
Capital Gains Tax
Corporate Tax
Value Added Tax
Answer: Option
Explanation:
Finance Minister Arun Jaitley raised the annual turnover for availing composition scheme to Rs 1.5 crore from Rs 1 crore effective from April 1, 2019, to provide relief to small businesses under Goods and Services (GST) regime. The Goods and Services Tax (GST) exemption limit has been doubled to Rs. 40 lakh annual turnover and Rs 20 lakh for northeastern states.
Discussion:
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