The Goods and Services Tax Council, set the threshold limit in its two-day inaugural meeting which conlcuded on 23rd Septemeber 2016. The council agreed to an exemption threshold of Rs 20 lakh for all states barring the north-east and hill-area states. For North-Eastern and other small states, the limit is Rs 10 Lakh. If a trader's turnover is less than the threshold limit per annum, he won't be covered under the indirect tax reform. Hon'ble FM Shri Jaitley said. "It was decided that those with turnover below Rs 20 lakh would be exempted under GST."