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
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.
RBI specifies ‘Related Party’ with respect to bank RBI has issued RBI Credit Risk Management Directions, 2025 defining ‘Related Party’…
Advisory on Filing Opt-In Declaration for Specified Premises, 2025 Dear Taxpayers, The relevant declarations issued vide Notification No. 05/2025 –…
FAQs for HSNS Cess Act, 2025 and HSNS Cess Rules, 2026 Q1. Who is required to get registered under the…
Refusing to condone delay can result in a meritorious matter thrown out at very threshold against case being decided on…
When prior period expenses are not admissible as deduction, following the same principle the prior period income also cannot be…
Supreme Court condoned delay of 972 days in filing appeal due to restructuring in Income Tax Department In a recent…