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Turnover calculation 40lacs

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Balraj Karrolla

50 Points Posted on 12 February 2020

Gst Aggregate Turnover 40lacs limit is Only for that Financial Year or Cumulative Financial Years (Until 40lacs Turnover).
for Gst Registration.

Replies (6)

Quick Summary

This discussion clarifies the GST aggregate turnover limit of 40 lakhs for registration. The limit applies per financial year and is for the supply of goods only in certain states, not for services. It's not a cumulative limit across multiple financial years, and any changes would require government amendment to the act.

prasad Nilugal

GST Practitioner & Accounts

15150 Points Posted on 12 February 2020

1) 40 lacs of turnover in certain sates for supply Goods only not for services .

2) Not for particular financial year .

Roshni

Studwnt

1141 Points Posted on 12 February 2020

It is financial year wise.

prasad Nilugal

GST Practitioner & Accounts

15150 Points Posted on 12 February 2020

Increase or decrease of turn over will be decided only after amendment in act by the Govt not for a particular year .,So there will not be a different turnover limit in the next financial year .