The Indian Goods and Services Tax (GST) Council ({News-2016-09-16/A/4- previous coverage}) concluded its first meeting on September 23, during which it decided that the standard GST exemption threshold will be annual turnover of INR 2 million (~USD 30,000), instead of an earlier proposed threshold of INR 1 million. The threshold for companies in the northeast states, however, will be INR 1 million.
In addition, it was decided that state authorities will administer GST for companies with annu…