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If the turnover of unregistered person exceed 20 lac then is it necessary to take registration . As the limit is increased to 40 lac.
Replies (5)
Exemption limit of 40 lakhs is with effect from 01.04.2019.
Therefore, if Aggregate Turnover exceeds 20 lakhs in the year 2018-19, you are still required to get registered under GST.
Also note that Exemption limit has been enhanced only to supplier of goods. It continues to be 20 lakhs for service providers.
i agree with above answers.
but the limit may be different in different State.the State govt has ha option to decide whether they want to keep 40lakhs or 20 lakhs.
but the limit may be different in different State.the State govt has ha option to decide whether they want to keep 40lakhs or 20 lakhs.
As of today you are liable to get registered in terms of section 22 CGST Act .
The threshold limit of 40lac is a recommendation & till date its not being notified
The threshold limit of 40lac is a recommendation & till date its not being notified
Yes if turnover exceeds 20 lakhs then registration is mandatory. After 1 April, the state may opt for either 20 lakh or 40 lakh for deciding threshold limit.
As of now Registration is mandatory for turnover above 20 lakhs in a year...
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