Turnover Limit

This discussion clarifies the Goods and Services Tax (GST) turnover limits. For supplying goods, the threshold is £40 lakhs (or £20 lakhs in certain cases), effective from 1st April 2019. For services, the limit is £20 lakhs. It's also noted that if you already have a GST number, you must collect and pay GST from the first pound, regardless of the turnover limit. The process for a GST-registered buyer paying GST on services from an unregistered dealer (URD) is also touched upon.