India only: Has the GST limit for services been increased to 40 lakhs in the 24 August announcement?
Thread poster: Anil Kelkar
Anil Kelkar
Anil Kelkar  Identity Verified
Local time: 18:31
German to English
+ ...
Sep 17, 2020

This post is relevant for those in India only: In late 2018 or early 2019, GST exemption was announced for businesses with a turnover of up to 40 lakhs. However, it was very specifically indicated that the new limit of 40 lakhs (up from 20 lakhs) was NOT applicable to services. On August 24 2020, there was a new announcement from the MoF: "The Ministry of Finance yesterday said that businesses with an annual turnover of up to Rs 40 lakh are GST exempt. Initially, this limit was Rs 20 lakh." Was ... See more
This post is relevant for those in India only: In late 2018 or early 2019, GST exemption was announced for businesses with a turnover of up to 40 lakhs. However, it was very specifically indicated that the new limit of 40 lakhs (up from 20 lakhs) was NOT applicable to services. On August 24 2020, there was a new announcement from the MoF: "The Ministry of Finance yesterday said that businesses with an annual turnover of up to Rs 40 lakh are GST exempt. Initially, this limit was Rs 20 lakh." Was this merely a re-hash of the earlier announcement, or is the service industry now exempt up to 40 lakhs? There is not enough clarity and I am not sure whether there has been an official gazette announcement. Does anyone have any idea?Collapse


 


To report site rules violations or get help, contact a site moderator:


You can also contact site staff by submitting a support request »

India only: Has the GST limit for services been increased to 40 lakhs in the 24 August announcement?







CafeTran Espresso
You've never met a CAT tool this clever!

Translate faster & easier, using a sophisticated CAT tool built by a translator / developer. Accept jobs from clients who use Trados, MemoQ, Wordfast & major CAT tools. Download and start using CafeTran Espresso -- for free

Buy now! »
TM-Town
Manage your TMs and Terms ... and boost your translation business

Are you ready for something fresh in the industry? TM-Town is a unique new site for you -- the freelance translator -- to store, manage and share translation memories (TMs) and glossaries...and potentially meet new clients on the basis of your prior work.

More info »