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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.
Higher GST Exemption Limit, Fewer Slabs, and Simplified Registration for Firms with Up to ₹1.5 Cr Turnover: GTRI
Think tank GTRI on Friday suggested a host of reforms like increasing GST exemption limit for firms with up to Rs 1.5 crore turnover, ...
Free Press Journal
5 days ago
GST Council waives interest, penalty on tax demands between FY18 and FY20
The Goods and Services Tax (GST) Council in its Saturday meeting has approved several compliance measures, aiming at reducing tax litigation and enhancing ease of business ...
Business Standard India
4 days ago
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.
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.
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.
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.
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.
May 3, 2024 · Understand the GST registration limit and the turnover threshold. Learn about the latest changes, exemptions, and benefits for small businesses.
Subject: Clarification in respect of certain GST related issues - reg. Various representations have been received from taxpayers and other stakeholders seeking clarification in respect of certain issues pertaining to GST laws.
Dec 6, 2023 · In a fiscal year, the threshold limit for GST registration is Rs 20 lakhs / 40 lakhs. However, in certain states, the registration fee is reduced to Rs 10 lakhs. Learn more on Tax thresholds limits and due dates for IT, GST, TDS and other at Tax Threshold Limits & Due Dates. Aggregate Turnover.
Jun 8, 2024 · In India, businesses dealing with goods and having an annual turnover of over Rs. 40 lakh need to register for GST. For service providers, the limit is Rs. 20 lakh annually. However, in certain states including North-Eastern States, Uttarakhand, Himachal Pradesh, and Jammu & Kashmir, the limit for both goods and service providers is Rs. 10 lakh.
