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Dec 6, 2023 · Threshold limit for GST Registration. 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 ...
Dec 2, 2022 · What is the turnover limit for GST Registration? The aggregate turnover for the supply of services and goods is Rs. 20 lakhs and Rs. 40 lakhs. The limit for taxable supplies of goods or services or both for special category states, is Rs. 10 lakhs . States with an Rs. 10 lakh threshold for both goods and services.
GSTR-9 Annual Return Filing: Know due date, applicability, turnover limit, eligibility, rules, and filing format. Every taxable person under GST law will be required to furnish annual returns in form GSTR-9, the deadline for GSTR-9 filing is December 31st.
Feb 27, 2024 · – So, Vide Notification No. 34/2023 CT dated 31.07.2023, It was decided to provide an exemption from obtaining registration to unregistered persons making Intra-state supplies of goods through ECO having turnover less then threshold limit during current year or previous year w.e.f. 01.10.2023.
Jul 17, 2021 · GST Turnover Limit. The Central Government has decided to provide two threshold limit for GST registration for suppliers of goods, Rs.20 lakhs and Rs.40 lakhs. However, each of the individual State Governments must decide on the threshold limit within a week as the State’s revenue is also tied to GST.
Aug 14, 2023 · Threshold limits:-Any Individual can be registered with GST on a voluntary basis However, certain threshold limits on Aggregate Turnover are provided as per the act; Limit of ₹ 10 Lakh for Supplier of goods and/or services: 1. Manipur, 2. Mizoram, 3. Nagaland, and. 4. Tripura. Limit of ₹ 20 Lakh for Supplier of goods and/or services: 1 ...
The new scheme is that the businesses with the GST turnover limit of up to Rs. 40 lakh are exempted from GST. Initially, the turnover limit was Rs. 20 lakh for sales of goods and services. Moreover, the businessmen with a turnover limit of up to Rs. 1.5 crore can choose the Composition Scheme and need to pay only 1% tax.
