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threshold level of get for SERVICES
why threshold level of 20 lac for SERVICES and not increased to 40 lacs like goods and other businesses...can anyone EXPLAIN
Replies (2)
Turnover of goods inherits supply of both part.... value of goods + value of some services given by supplier.
While in service supply (except works contract under GST) the value of goods in reduced, i.e only service part is supplied.
Hence TO of services are always at lesser value as compared to TO of goods supply.
THANKS a lot for good reply..
but there are some businesses which have high input cost.say about 50/60 perct yet included as SERVICES...eg PHOTOCOPYING/xerox business.....what about them...our input is already charged at average of 12/18 perct ....yet GST of 18 perct and turnover limit of 30 L......PLEASE ADVICE
but there are some businesses which have high input cost.say about 50/60 perct yet included as SERVICES...eg PHOTOCOPYING/xerox business.....what about them...our input is already charged at average of 12/18 perct ....yet GST of 18 perct and turnover limit of 30 L......PLEASE ADVICE
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