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Basic exemption under GST
basic exemption for sales is already increased to 40 lakhs earlier. But what about turnover limit for service. 20 lakh or 40 lakh P.A.
Replies (5)
40 lacs
Thank you. is there any notification
T/O upto 40 if exclusively engaged in supply of goods (provided interest on deposit loans advances)
for service is 20lakhs
note: upto 40/20 is not excemption but its threshold so there is difference between excemption nd threshold
for service is 20lakhs
note: upto 40/20 is not excemption but its threshold so there is difference between excemption nd threshold
Thank you
Yes in term of Section 22 of CGST Act It's 20 lac in case of Services.
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