Goods and ServicesTax

  • After the completion of 2 years of GST tax some changes have been introduced in the GST which shall be applicable from April 1, 2019.
  • As per Section 23 of the CGST Act, every person is required to obtain the GST registration if his turnover from supply of goods or services exceeds Rs. 20 lakhs. This threshold limit has been increased to Rs. 40 lakhs only if supplier is engaged in supply of goods.
  • Threshold Limit for composition scheme has been increased to Rs. 1.5 crores.
  • Banks or financial institution or NBFC have been given an option to avail 50% of the eligible ....
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