Someone please help me understand one thing. It is said that there is no GST for traders whose turnover is less than 20 lakhs. What does this mean? That those traders won't collect GST? If so what if they go beyond 20 lakh at the year end? Who will pay the tax? And if someone who has been collecting tax from people and falls below 20 lakhs, where will the money or refund go??
CAclubindia
