Aadi Info Solutions Pvt. Ltd.
One stop solution.....
Advanced Search
My Documents
Admin Login
What's New Important Amendments effective from 01.06.2016      Sebi relaxes restrictions on more than 200 entities      Barring five all petroleum items under GST regime      RuPay debit cards to gain from small finance banks      Due Dates for the Month of February 2018      GST will unleash significant economic activity: Barack Obama      GST bill now a law, President Pranab Mukherjee gives assent to the constitutional amendment bill      Rules may be eased for banks and NBFCs under GST      Centre may have to re-notify GST Constitutional Amendment Act; here’s why      Recommended 7-year tax holiday for start-ups: Sitharaman      GST Council consensus emerging on April 1, 2017 rollout, Rs 25 lakh threshold      GST Council: Tax exemption threshold fixed at Rs 20 lakh      GST rate of 18% to have short-lived impact on inflation, says RBI      GST Network operating expenses to be funded by user fee      Adoption of GST poised to boost India's medium-term growth: IMF      GST: The ride just got better for logistics      Submit monthly data of appeals disposed of: CBDT to officers      GST Council meet: 14% revenue growth assumed for states      IT Department changes PAN rules for automobile sales above Rs 2 lakh      I-T Dept to keep record of deposits over Rs 2 lakh      After liberal concessions by Centre, GST council inks breakthrough, new tax regime roll-out on July 1      Budget 2017 - Highlights      Key Features of BUDGET 2017      Important changes of Budget 2017, effective from 01st April 2017      UNION BUDGET 2018     

 GST Council: Tax exemption threshold fixed at Rs 20 lakh

The first session of the GST Council that concluded here on Friday made good progress in ironing out some of the contentious issues between the Centre and states: The exemption threshold for the goods and services tax (GST) has been fixed at Rs 20 lakh for all states except the northeastern ones and the three hill states of Jammu and Kashmir, Uttarakhand and Himachal Pradesh, in whose case this limit would be Rs 10 lakh; states will have the assessment powers for units with annual turnover up to Rs 1.5 crore while in the case of bigger businesses too, the one-taxpayer-one-authority principle will be retained and either the Centre or the state concerned will be accorded the assessing power based on risk profiling.

Quick Menu

Quick Links

Latest news

Information Sharing

Bookmark and Share
Total Visitors: 340193 Copyrights © Aadi Info Solutions Pvt. Ltd. All Rights Reserved.