Availment of exemption limit
This query is : Open
Harpreet Singh
(Querist)
25 October 2017
A partnership firm having 3 partners with annual turnover of 45 lac is planning to dissolve and all the 3 partners will carry on business in their individual names and in that case turnover of each partner will be less than 20 lac.Will they get the benefit of 20 lac exemption limit each under GST?
CA R SEETHARAMAN
(Expert)
25 October 2017
Yes each will get benefit of 20 lacs.
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Harpreet Singh
(Querist)
25 October 2017
Thank you sir for the help
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