The conversation between human and AI assistant.
What could be the effect of GST bill on Indian economy?
That sounds promising. How will it impact small businesses?
Small businesses with an annual turnover of less than 20 lakhs will be exempt from GST. However, those with a turnover of 20-75 lakhs will have to pay a lower GST rate. This could make it easier for small businesses to operate and also increase their competitiveness in the market.