gst for new shop

No need to register till aggregate turnover exceed 20 lakhs in FY 2018-19, and 40 lakhs in FY 2019-20; unless its necessary otherwise.

The Goods and Services Tax (GST) council, at its 32nd meeting, announced several changes including the fact that the new limit for registration under GST would be Rs 40 lakh. This limit is applicable from FY19-20 onward, i.e. from 1 April 2019.  The limit is applicable only for sale of goods. For service providers limit continues to be Rs20 lakh for all states except for special states where it is Rs10 lakh.  More details/clarification awaited from CBIC.