turnovers limit of Rs 20 lacs for registration is considered of current year 2017-18 or last year 2016-17?
N limit of Rs 75 lacs is for last year or current year?
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registration in GST
Replies (5)
Last year 16-17
Yes I agreed to Mr. Sandeep.
Turn Over is Our last FY transactions or previous business transactions if less than a Year....
Turn Over is Our last FY transactions or previous business transactions if less than a Year....
for composition scheme it's previous FY turnover but for 20 lakhs it's current year turnover
"If one is carrying out any business and has an annual aggregate turnover in the preceding financial year exceeding Rs 20 lakh, you need to register in all the states/ Union Territories from where you are making taxable supplies,"
Preceding financial year not this year
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