sir my friend IT filled for FY 19-20 and he have show 30laks tournover without GST for bank loan purpose and he taken loan from bank.sir my dobut gst tournover limit for 19-20 please clarify sir
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Quick Summary
This discussion clarifies the Goods and Services Tax (GST) turnover limits applicable for the financial year 2019-20. The general threshold for suppliers of goods and services is Rs. 20 lakhs. However, for businesses exclusively supplying goods, the limit is increased to Rs. 40 lakhs. This information is crucial for understanding GST registration and compliance requirements.