NEW DELHI (Reuters) – India’s government announced a change in national sales tax rules on Thursday that would exempt an additional two million small businesses, in a move that could help garner support ahead of a general election that must be called by May.
“India will exempt small businesses with annual sales of up to 4 million rupees ($56,701) from paying taxes under the GST (Goods and Services Tax),” Finance Minister Arun Jaitley told reporters.
Finance - Ministry - Official - Decision - Firms
A finance ministry official said the decision could benefit about two million firms. Currently, firms with an annual turnover of up to 2 million rupees are exempted from registration for...
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