GST Registration Limits: Threshold limit for GST Registration for 2025 January 8, 2025 6 Mins Read The GST registration limits have been significantly changed to simplify… Read More Taxation & Notifications How to Sell Online Without GST Number in India? January 7, 2025 5 Mins Read One ...
Related Read: GST Registration Limits: Threshold limit for GST Registration for 2025 Who Should Obtain Registration Under GST? Casual taxable person / Input Service Distributor (ISD) Businesses with turnover above the threshold limit of Rs.40 lakh or Rs.20 lakh or Rs.10 lakh as the case may...
Threshold Limit: Entities whose annual gross revenue exceeds ₹5 crore require the generation of e-invoices for all B2B transactions. Previous Threshold: Previously, before the amendment in August 2023, the threshold was set at ₹10 crore. ...
Businesses whose turnover does not exceed the prescribed threshold limit and those engaged exclusively in exempted goods or services are not required to register for GST. Can I get multiple GST registrations within a state? No, a taxpayer can have only one GST registration per state or union te...
A taxpayer registered under GST has to file his/her GSTRs on a monthly or quarterly basis in addition to one annual return if his turnover surpasses the threshold limit. However, if the taxpayer fails to file the relevant returns, he/she receives a government notice in GSTR 3A. So, we...
Irrespective of the threshold limit GST registration is mandatory for the following: Individuals engaging in interstate taxable supply (with a threshold of ₹20 lakhs/₹10 lakhs applicable for interstate supply of taxable services, specified handicraft goods, and handmade goods) Casual taxable perso...
This system will only be applicable to those whose turnover threshold is above the determined limit i.e. the government will set a threshold limit for them. An official said that the businesses that will fall under a certain threshold will be given a unique number whenever an e-invoice will...
As the government is lowering the threshold, you can read our article – why small businesses should look forward to e-invoicing. Also, the GSTN first announced and then postponed the 7-day invoice generation limit rule. However, you can read: How 7-day e-invoice generation limit will Impa...
When the business turnover of a GST registered person is below the threshold limit. Non-filing of GST return When GST registration obtained by an individual by means of fraud, willful misstatement or suppression of facts. Non-compliance of GST rules & provisions. ...
Threshold Exemption: Small businesses with a turnover below a specified threshold (currently, it is 20 lakhs: supplier of both goods & services and 40 lakhs: for supplier of goods (Intra–State) in India) are exempt from GST. Present Challenges in GST Rates Complexity and Confusion: The exis...