GST threshold reduction: state lowers turnover threshold, changing registration and compliance obligations effective April. Pursuant to powers under sub rule (4) of rule 48 of the Karnataka Goods and Services Tax Rules, 2017, the Government of Karnataka substitutes the words 'fifty crore rupees' with 'twenty crore rupees' in the first paragraph of Notification (07/2020) No. FD 03 CSL 2020(e), effective from the first day of April, 2022, thereby reducing the turnover threshold specified in that notification.
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GST threshold reduction: state lowers turnover threshold, changing registration and compliance obligations effective April.
Pursuant to powers under sub rule (4) of rule 48 of the Karnataka Goods and Services Tax Rules, 2017, the Government of Karnataka substitutes the words "fifty crore rupees" with "twenty crore rupees" in the first paragraph of Notification (07/2020) No. FD 03 CSL 2020(e), effective from the first day of April, 2022, thereby reducing the turnover threshold specified in that notification.
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