What are the benefits available to small tax payers under the GST regime?

Tax payers with an aggregate turnover in a financial year up to (Rs.10 lakhs) would be exempt from tax. (Aggregate turnover shall include the aggregate value of all taxable and non-taxable supplies, exempt supplies and exports of goods and/or services and exclude taxes viz. GST.)
Aggregate turnover shall be computed on all India basis.

For NE States and Sikkim, the exemption threshold shall be [Rs. 5 lakhs]. All taxpayers eligible for threshold exemption will have the option of paying tax with input tax credit (ITC) benefits. Tax payers making inter-State supplies or paying tax on reverse charge basis shall not be eligible for threshold exemption.

Read: What will be the effective date of registration and what is the time limit for taking a Registration under Model GST Law?