Increase in GST threshold turnover from 20 lakh to 40 lakh to take affect from 01.01.2020

Increase in GST threshold turnover from 20 lakh to 40 lakh for suppliers to take affect from 01.01.2020 where recommended. Read Notification

Government of India
Ministry of Finance
(Department of Revenue)
Central Board of Indirect Taxes and Customs

Notification No. 01/2020–Central Tax

New Delhi, the 01st January, 2020

G.S.R. 2(E).— In exercise of the powers conferred by sub-section (2) of section 1 of the Finance (No. 2) Act, 2019 (23 of 2019), the Central Government hereby appoints the 1st day of January, 2020, as the date on which the provisions of sections 92 to 112, except section 92, section 97, section 100 and sections 103 to 110 of the Finance (No. 2) Act, 2019 (23 of 2019), shall come into force.

[F.No.20/06/09/2019-GST]

(Pramod Kumar)
Director, Government of India

Note: the provisions of said section 94 amended section 22 of the CGST Act, authorising that the Government,  at the request of a State and on the recommendations of the GST Council, enhance the GST threshold turnover from 20 lakh to an amount not exceeding 40 lakh rupees in case of supplier subject to prescribed conditions and limitations.

• CBDT extends due date of tax audit for FY 2025-26 to 21st October 2026
• Denying accumulation of u/s 11(2) merely on grounds of delay in filing Form No. 10 is unsustainable
• Engagement of 05 Young Professionals CAs at Central Registrar of Cooperative Society
• AO can’t take two different stands on immunity u/s 270AA(2) for a same transaction
• ITAT held 2000 gram jewellery reasonable in view of customary practices & CBDT Instruction