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Increased GST Threshold Limit

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CBIC on 07.03.2019 issued Notification no. 10/2019-Central Tax & Notification no. 14/2019-Central Tax notifying the increased threshold limit. Increased Threshold limit in both the notifications are made effective from 01.04.2019.

Notification no. 10/2019-Central Tax

The notification provides that following category of persons are exempt from obtaining registration under GST:

• Any person engaged in supply of goods only & aggregate turnover is not more than Rs. 40 Lakh in the financial year.

Following persons are required to take compulsory registration:

• As per S. 24 of the GST Act.

• Engaged in supplies of specified goods i.e. ice cream & other edible ice, whether or not containing cocoa, Pan Masala, All goods i.e. Tobacco & manufactured tobacco substitutes.

• Persons engaged in making intra-state supplies in state of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Telangana, Tripura & Uttarakhand.

• Persons exercising option under S. 25(3) of the GST Act.

So, the threshold of Rs. 20 Lakh or Rs. 10 Lakh for service providers will remain same.

Notification no. 14/2019-Central Tax

The notification provides that the threshold limit for opting composition scheme is increased from earlier Rs. 1 Cr. to Rs. 1.5 Cr. For the Special Category states the limit will be Rs. 75 lakh.

It is further provided that a manufacturer of the specified goods (ice cream & other edible ice, whether or not containing cocoa, Pan Masala, All goods i.e. Tobacco & manufactured tobacco substitutes) shall not be eligible for opting composition scheme.