New Delhi, Jan. 18 -- In a major relief to small businesses, the goods and services tax (GST) Council on Thursday, 10 January, doubled the tax exemption limit to '40 lakh in annual revenue. The turnover limit for businesses availing of the composition scheme, which allows them to pay tax at a flat rate, was raised to '1.5 crore. The move aims to allay the concerns of small traders, a core constituency of the ruling Bharatiya Janata Party. For north-eastern and hilly states, the GST exemption limit has been doubled to '20 lakh. The decisions of the council, chaired by finance minister Arun Jaitley, will come into effect from 1 April. However, states, especially Congress-ruled ones, who fear an erosion of their tax base, have been given a one...