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May 27, 2024 · The GST Council raised GST registration threshold limits based on the demands of MSME in the 32nd meeting on 10th January 2019. The article discusses earlier and new limits, including requirements by category, states opting for new limits, and the financial year for aggregate turnover calculation.
Jun 14, 2024 · AATO means the annual turnover of a business at PAN level with a few inclusions and exclusions. Also, a business whose aggregate turnover in a financial year exceeds Rs.40 lakhs (or Rs.20 lakh for special category states, Puducherry, and Telangana) has to mandatorily register under GST.
Feb 27, 2024 · Section 22: Every Supplier of goods or services or both required to obtain registration in the State or Union territory from where he makes taxable supplies if his annual aggregate turnover (PAN Based) Exceeds specified Limits. Annual aggregate turnover – Taxable supply + Exempt supply + Exports + Inter-state supplies under same PAN.
Apr 15, 2020 · As per section 22 (1) of CGST Act, every supplier shall be liable to be registered in the State or Union Territory (other than special category states) from where he makes supply of goods or services or both, if his aggregate turnover in a financial year exceeds Rs. 20 lakhs.
May 3, 2024 · Understand the GST registration limit and the turnover threshold. Learn about the latest changes, exemptions, and benefits for small businesses.
Aug 14, 2023 · Goods & Service Tax Acts 2017:- GST comprises of: 1. Central Goods & Services Tax (CGST), levied by the Central Government, 2. State Goods and Services Tax (SGST), levied by the State Government, 3.
Dec 2, 2022 · Currently, the threshold is set at Rs 20 lakhs (Rs. 40 lakhs for goods). It is the amount below which a business is not required to register for GST. This article goes over the specifics of the turnover limit for GST registration. Let’s begin.
In order to ensure uniformity in the implementation of the provisions of the law across field formations, the Board, in exercise of its powers conferred by section 168(1) of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as “CGST Act”), hereby clarifies each of these issues as under: invoice or debit note pertains.
Dec 6, 2023 · Every supplier of goods or services or both is required to obtain registration in the state or union territory from where he makes the taxable supply if his aggregate turnover exceeds specified threshold limit in a financial year. In a fiscal year, the threshold limit for GST registration is Rs 20 lakhs / 40 lakhs.
Latest updates. 53rd GST Council meeting. As on 22nd June 2024, the Council has recommended to provide relaxation to taxpayers from filing GSTR-9/9A for FY 2023-24 where their aggregate annual turnover for the said financial year is below Rs.2 crore. 50th GST Council meeting.
