The basic philosophy behind GST is to expand the tax base and not to enhance tax burden on businesses. The Model GST law released by the Ministry of Finance captures this objective and mentions that any person with an aggregate turnover of above Rs 10 lakhs would be covered within the ambit of GST. This limit has been further lowered to Rs 5 lakhs for north eastern states. The significantly low thresholds are expected to be a game changer for the Small and Medium Enterprises (‘SMEs’). For exampl ..