Turnover Limit

380 views
User Avatar

Accountant
196 Points Posted on 09 February 2020
Hi

What is the limit of turnover for not taking GST and pay tax. If I am having GST, must I pay Tax even there is the below limit...
1 Reply Share Follow
On 09 February 2020 at 11:26 Report
Replies (8)
Quick Summary
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.

User Avatar

"Do the Right Thing...!!!"
128162 Points Posted on 09 February 2020
Yes... If You have GST number then You will collect & pay tax from Rs 1.
1 Reply
On 09 February 2020 at 11:39
User Avatar

Accountant
196 Points Posted on 09 February 2020
Ok. But what is the limit for not taking GST..
Reply
On 09 February 2020 at 11:41
User Avatar

"Do the Right Thing...!!!"
128162 Points Posted on 09 February 2020
The new threshold limit under GST Rs 40 lakhs (& 20 lakhs) for supplying GOODS...

For Service limit Rs. 20 lakhs...
2 Reply
On 09 February 2020 at 11:47
User Avatar

Accountant
196 Points Posted on 09 February 2020
Thank U. From which period the limit 40 lakhs?
Reply
On 09 February 2020 at 11:51
User Avatar

"Do the Right Thing...!!!"
128162 Points Posted on 09 February 2020
From 1st April 2019...
1 Reply
On 09 February 2020 at 11:57
User Avatar

Commercial Analyst
33 Points Posted on 11 February 2020
If A URD Dealer Sells Services Like Accounting. How Does The Buyer Pay GST. Buyer If A GST Regd. Dealer.
Reply
On 11 February 2020 at 18:49
User Avatar

"Do the Right Thing...!!!"
128162 Points Posted on 11 February 2020
Yes... Gst not applicable as rcm.
Reply
On 11 February 2020 at 19:59
User Avatar

Accountant
196 Points Posted on 12 February 2020
Can you display order number for 40 lakhs turnover limitation.
Reply
On 12 February 2020 at 10:30

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Criteria to hire an article
  2. Guidence requested for a Finance Professional with
  3. Expert Opinion Required – Form 140 Gross Amo
  4. WRONG TAX DEMAND - formal responses , rectificatio
  5. Foreign remittance
  6. Affordable Residential Flats in Gurgaon
  7. Manufacturing
  8. TAN REGISTRATION ON E-FILLING SITE
  9. Form 10-IEA – Continuing Old Regime
  10. Income tax act 2026

More recent discussions | Post

Related Topics :

Loading