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Textile News   >     17-12-2017 - Sunday

  • GST: Rs 20 lakh registration exemption not for inter-state traders

⇒The traders supplying goods to other states will need to register under the Goods and Services Tax (GST) even if their turnover is below Rs 20 lakh, Revenue Secretary   Hasmukh Adhia said 

⇒A trader dealing only in exempted goods or where his turnover is below Rs 20 lakh in the financial year, but not engaged in inter-state supplies, is not required to register under GST

⇒He was speaking at the "GST-Ki-Master Class" held for traders.

⇒practitioners and all officers of the Central Board of Excise and Customs and state governments. 

⇒Rs 20 lakh registration limit is only for intra-state traders,"

⇒Traders, thus, will not be able to avail of threshold exemption of Rs 20 lakh turnover, if they have inter-state supplies. "Then they will have to register. Threshold exemption is only for traders who are trading within the state,"

 

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