Threshold limit of under GST
This query is : Resolved
11 April 2025
Dear Sir/Madam,
I seek your kind guidance on the following GST-related queries:
Threshold Limit Calculation:
Is the GST threshold limit (₹20 lakhs for services and ₹40 lakhs for goods) determined based on the aggregate turnover within a particular financial year, or does it include the cumulative turnover of the entity across multiple financial years?
Taxable Turnover Upon Exceeding Threshold:
In the event that the aggregate turnover crosses the applicable threshold limit in a financial year, will GST be applicable on:
a) The entire turnover in that relevant financial year, or
b) Only the turnover in excess of the threshold limit?
I would appreciate your expert advice on the above queries for better compliance.
Thank you in advance.
Warm regards,
I seek your kind guidance on the following GST-related queries:
Threshold Limit Calculation:
Is the GST threshold limit (₹20 lakhs for services and ₹40 lakhs for goods) determined based on the aggregate turnover within a particular financial year, or does it include the cumulative turnover of the entity across multiple financial years?
Taxable Turnover Upon Exceeding Threshold:
In the event that the aggregate turnover crosses the applicable threshold limit in a financial year, will GST be applicable on:
a) The entire turnover in that relevant financial year, or
b) Only the turnover in excess of the threshold limit?
I would appreciate your expert advice on the above queries for better compliance.
Thank you in advance.
Warm regards,
11 April 2025
1. Turnover in particular financial year (& not aggregate over multiple FYs.)
2. For first year of registration from the date of registration, for following year/s on entire turnover (means no threshold limit, now)
2. For first year of registration from the date of registration, for following year/s on entire turnover (means no threshold limit, now)
29 September 2025
Good luck..
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