Gst threashold limit meaning

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kanika Seth (Querist)

09 June 2017 threashold limit provided is rs. 20 lac ? Does it mean that after crossing limit of 20 lac in year person is liable to pay tax and not before? n once this limit is crossed is it applicable in futher years also.. please clarify this.
thank you in advance.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

09 June 2017 For the first year the person is liable to pay tax on crossing the limit of 20 lac. Once crossed from next year GST payable on entire sales.

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kanika Seth

kanika Seth (Querist)

09 June 2017 thank you.. can u please futher clarify me that for appicability of gst in current year whether need to check gst threshold limit of rs 20 lakh every year or once this limit crossed gst will be applicable every year irrespective of the turnover in previous year..

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

09 June 2017 Once this limit crossed gst will be applicable every year irrespective of the turnover in previous year..

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CA Prateek Garg

CA Prateek Garg (Expert)

09 June 2017 Every person who is registered is liable to pay tax. it is irrelevant whether registration was mandatory or voluntary.. Once you cross the limit of 20 Lakh in a year, it is mandatory to get registration.

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