Minimum Turnover Limit for GST Registration
Businesses must register for GST and pay taxes on their taxable items and services if their annual revenue exceeds Rs. 40 lakhs for goods and Rs. 20 lakhs for services. Companies/Business with annual sales under Rs. 40 lakh are not compelled to register for GST, although they are free to do it on a voluntary basis.
*It should be mentioned that several special category states in India have various minimum turnover requirements for GST. The minimum threshold limits for the supply of products in these special category states are Rs. 20 lakhs, and for the supply of services, it is Rs. 10 lakhs.


Comments
Post a Comment