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GST Registration Limit 40 Lakhs Notification PDF
Business persons in India are required to register for Goods and Services Tax (GST) if their annual turnover exceeds Rs. 40 lakhs. However, this threshold is lower at Rs. 20 lakhs for businesses operating in special category states. The GST Council, taking into consideration the concerns of Micro, Small, and Medium Enterprises (MSMEs), decided to raise the minimum threshold for GST registration. This change has provided relief to many small businesses, as they are now exempt from paying GST if their turnover is below the revised limit.
It’s important to note that certain businesses, such as those involved in e-commerce or selling goods across state borders, are required to register for GST regardless of their turnover. This means that even if their annual turnover is below Rs. 40 lakhs (or Rs. 20 lakhs in special category states), they still need to register for GST. To determine the specific minimum limit for registration in a particular region, it’s crucial to check the GST laws and regulations applicable to that area.
GST Registration Exempted Categories
- There are certain scenarios where the supply of goods or services is not liable to tax. This means that no GST is applicable in these cases. One such scenario is when goods or services are supplied by an unregistered individual to a registered individual. In this situation, the unregistered person is not required to charge GST on their supplies.
- The supply of goods or services by an unregistered e-commerce operator also falls under this category. If an e-commerce operator is not registered under GST, they are not liable to charge GST on the goods or services they provide.
- It’s important to note that these exemptions are specific to the GST regulations. It’s always a good idea to consult the relevant laws and guidelines to ensure compliance with the specific requirements.
GST Registration Limit 40 Lakhs Notification
- The threshold limit for GST registration was revised on April 1, 2019. For individuals engaged in the exclusive supply of goods, the threshold limit has been enhanced to Rs. 40 lakhs, except for certain cases.
- In the states of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Telangana, Tripura, and Uttarakhand, the threshold limit for registration remains the same for those engaged in the exclusive supply of goods, even after the revision.
- There are certain individuals who are required to take compulsory registration under section 24, regardless of the threshold limit. These individuals must register for GST, regardless of their turnover.
- Suppliers of specific goods are also not exempt from GST registration, regardless of the threshold limit. These goods include ice cream and other edible ice, whether or not containing cocoa, pan masala, tobacco, and manufactured tobacco substitutes. Suppliers of these goods must register for GST, irrespective of their turnover.
- It’s important to keep in mind that these exceptions are specific to the GST regulations. To ensure compliance with the specific requirements, it’s always advisable to consult the relevant laws and guidelines.