<h1>GST Council Boosts MSMEs: Raises Composition Scheme Limit, Introduces New Service Provider Scheme, Offers Free Accounting Software.</h1> The GST Council, chaired by the Union Minister of Finance, announced significant decisions to aid MSMEs and small traders. The turnover limit for the Composition Scheme was raised to Rs. 1.5 crore, with simplified compliance requiring annual returns and quarterly tax payments. Two exemption thresholds for goods suppliers were set at Rs. 40 lakh and Rs. 20 lakh, with states choosing their limit. A new Composition Scheme for service providers with a 6% tax rate was introduced for those with turnovers up to Rs. 50 lakh. These changes take effect on April 1, 2019. Additionally, free accounting software will be provided to small taxpayers, and a cess for natural calamities was approved for Kerala.