Moving on fast track to roll out the new indirect tax regime from April 1, GST Council today fixed annual turnover limit for exemption at Rs 20 lakh and resolved that all cesses will be subsumed in the GST. While the next meeting of the Council on September 30 will finalise draft rules on granting exemptions, the GST rate and tax slabs would be decided at its three-day meeting beginning October 17. ET NOW gets you more details.
