Gst threashold limit meaning
This query is : Open
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.
thank you in advance.
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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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..
09 June 2017
Once this limit crossed gst will be applicable every year irrespective of the turnover in previous year..
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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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