<h1>Union Budget 2019-20: Simplifies GST, Raises Tax Thresholds, and Adjusts Duties to Support Domestic Industries.</h1> The Union Budget 2019-20 introduces several changes to simplify GST processes and adjust indirect taxes. Businesses with annual turnovers below Rs. 5 crore will file quarterly GST returns, and the threshold for goods suppliers increases from Rs. 20 lakh to Rs. 40 lakh. The Sabka Vishwas Legacy Dispute Resolution Scheme aims to resolve pre-GST litigations. Customs duty exemptions are provided for defense equipment not manufactured in India, while duties on gold, precious metals, and certain items are increased to support domestic industries. Excise duties on petrol, diesel, and tobacco products are raised, and electronic invoicing is set to streamline GST compliance from January 2020.