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Financial year for Turnover limit calculation 20 lacs
which financial year consider
Replies (10)
Financial year for which you are paying GST
fresh registration on 01/07/2017 then turnover start from 01/04/2017 or 2016-17
From 01/04/2017.
Mehul really nice question. i m also believing that 20 lakh limit should be considered from 1-4-17
i think it would start from 1/07 for first year
preceding financial year
No its of current year only
Turn over limit is from when the act is applicable.
As per sec 22(1)of CGST every supplier shall be liable to registered in the state . . . . . . . , if his aggregate turnover in a FINANCIAL YEAR EXCEEDS RS 20 LAKHS
So for calculating limit , period will starts from 01-04-17
So for calculating limit , period will starts from 01-04-17
Yes , Mr.Nirmal is correct, It's would be starting from 1st of April this year..Thanks for the update.
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