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.
After holding that the cash receipts and cash payments are unexplained, ad-hoc estimation of income can not be adopted –…
Dividing total turnover by 365 days and concluding that assessee could not have made such cash sale on a single…
NERIST Arunachal Pradesh invites EoI for Empanelment of Chartered Accountant firm North Eastern Regional Institute of Science and Technology, (NERIST)…
Sibsagar University invites Expression of Interest (EOI) for Appointment of Internal Auditor Sibsagar University invites Expression of Interest (EOI) from reputed…
In a recent judgment Andhra Pradesh High Court struck down Section 147A of the Income Tax Act, 1961 as unconstitutional.…
Bank was liable to pay compensation to borrower as it did not verify the progress of construction before loan disbursals…