TaxTMI 
TaxTMI 
GST Update 3 - GST threshold
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....ST Update 3 - GST threshold <br>GST<br>Dated:- 15-6-2015<br><BR>As per the official sources: * Traders with a turnover of less than ₹ 10 lakh a year are neither required to pay GST nor to take....
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.... registration for it. * Those with annual sales between ₹ 10 lakh and ₹ 50 lakh will need to pay tax at a rate lower than standard GST rate. * However, the concessional tax rate would ....
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....not be available for traders making inter-State transactions irrespective of their turnover. * The quantum of concession will be decided by proposed GST Council which will also determine standard GS....
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....T rate. * For Northeastern States, the threshold could be ₹ 5 lakh. * This proposed minimum turnover levels for GST mean two things: * Thousands of small traders below annual sales of S....
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....77; 10 lakh would go out of the tax net as in many State VAT threshold is ₹ 5 lakh. * Some of the tiny manufacturing units will come under the tax net given that the Central Excise duty is now....
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.... payable only for units with ₹ 1.5 crore turnover. [Source: The Indian Express, New Delhi, dated 9-5-2015] This is just for your reference. It does not constitute our professional advice or re....
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....commendation. CA Akash Phophalia 9799569294 [email protected] Office No 3, Second Floor Amrit Kalash, Residency Road Near Bombay Motor Circle Jodhpur - 342001 Rajasthan<BR> News - Pr....
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....ess release - PIB....