𝐁𝐮𝐝𝐠𝐞𝐭 : 𝐒𝐦𝐚𝐥𝐥 𝐚𝐧𝐝 𝐦𝐞𝐝𝐢𝐮𝐦 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐞𝐱𝐩𝐞𝐜𝐭 𝐜𝐥𝐚𝐫𝐢𝐭𝐲 𝐚𝐧𝐝 𝐫𝐞𝐥𝐢𝐞𝐟 𝐨𝐧 𝐆𝐒𝐓

Budget expectations: Owners of small and medium-sized businesses expect lower GST registration thresholds to make operations easier. Insurance-specific GST rates, input tax credits, and minimum thresholds may be covered by the Union budget. An interim budget for an election year is unlikely to include significant changes to the GST rate, though. In order to give small businesses a break, the proposal calls for raising the mandatory GST registration threshold from . Exporters anticipate a simplified input tax credit process and clarity regarding GST registration requirements. In the upcoming budget, Finance Minister Nirmala Sitharaman might prioritize improving the GST regulations.