Registration for Intra-State Supply: A supplier (blogger) shall be liable to be registered under Central GST Act in the State or Union territory from where he makes a taxable supply of services, if his aggregate turnover in a financial year exceeds ₹20 lakhs. However, in case of special...
How much is the fees for GST registration? “No fee” is required for registering your business under GST. Who is not eligible for GST registration? Small businesses with annual turnover below the specified threshold limit (currently ₹20 lakhs for most states, ₹10 lakhs for special catego...
For small taxpayers with an aggregate turnover in an economic year up to 50 lakhs, a composition scheme is possible. Under the system, a taxpayer shall give tax as a portion of his turnover in a State during the year without the benefit of Input Tax Credit. This system will be free. ...
The limit imposed on GST is the threshold turnover for registration. A person engaged in an exclusive supply of goods and whose aggregate turnover in the financial year does not exceed ₹40 lakhs is not required to register under GST. However, this limit is ₹20 lakhs for special categor...
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How is There No Income Tax on Income up to ₹5 Lakhs? Recently, Finance Minister Sh. Piyush Goyal had presented the 6th and the Interim Budget in Lok Sabha on the 1st February 2019. The budget had a large number of positive measures for all sections of the economy, including ...
Under the GST regime in India, businesses with annual revenue below certain thresholds are exempt from mandatory GST registration. The exemption limit is set at ₹40 lakhs for businesses dealing in goods and ₹20 lakhs for those providing services. Businesses earning less than these amounts are...
It is important to understand the use of GST cancellation forms as they vary depending upon the situation. There are various forms used for cancellation of GST registration in India and the same are mentioned in the table below – FormDescription ...
The Manipur government has further simplified the GST registration process for small businesses in the state. Businesses with a turnover of less than ₹3 lakhs can now register for GST online without the need for any documents. This is expected to make it easier for small businesses to ...
GST explanation related to the threshold limit for registration is distinct for different category of State/UT, as explained in the table below: Also Read: GST Certificate Download Download from gst.gov.in States with a threshold limit of Rs. 40 lakhs* for goods and Rs. 20 lakhs for ...