Threshold for registration under GST

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Partner
36 Points Posted on 12 September 2020

Dear Friends,

What is the threshold limit for registration under GST for services?

On 24th August Finance Minister tweeted that businesses with 40 Lakh turnover are exempt from GST, is that a new announcement or is she just stating the fact that they increased the GST threshold on  goods to 40 Lakhs? 

Thanks 

Sandeep

 

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On 12 September 2020 at 15:13 Report
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Quick Summary
This discussion clarifies the Goods and Services Tax (GST) registration thresholds. For services, the limit is generally £20 lakh (or £10 lakh for special category states). For businesses exclusively dealing in goods, the threshold is £40 lakh. The recent mention of the £40 lakh figure by the Finance Minister was a reminder of the existing limit for goods, not a new announcement.

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Tax and Business Consultant
5533 Points Posted on 12 September 2020
Threshold limit for GST registration for service is 20 lakh (10 lakh for special category states).

Threshold limit for person exclusively dealing in Goods is 40 lakh.

It's old limit only..there is no new announcement, Finance Minister just posted old history of GST on her twitter account.
4 Reply
On 12 September 2020 at 16:13
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Audit Executive
44 Points Posted on 08 October 2020

refer sec 22 of cgst act 2017.

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On 08 October 2020 at 16:03

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