{"id":151,"date":"2015-07-11T06:21:20","date_gmt":"2015-07-11T06:21:20","guid":{"rendered":"http:\/\/caindelhiindia.com\/blog\/?p=151"},"modified":"2023-09-03T18:59:53","modified_gmt":"2023-09-03T18:59:53","slug":"gst-threshold-at-10-lakh-lower-rates-for-turnover-up-to-50-lakh","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/gst-threshold-at-10-lakh-lower-rates-for-turnover-up-to-50-lakh\/","title":{"rendered":"GST THRESHOLD AT \u201910 LAKH, LOWER RATES FOR TURNOVER UP TO \u201950 LAKH"},"content":{"rendered":"<h2 style=\"text-align: justify;\"><strong><span style=\"color: #0000ff;\">GST<\/span> <span style=\"color: #0000ff;\">THRESHOLD AT 10 LAKH, LOWER RATES FOR TURNOVER UP TO 50\u00a0LAKH<\/span><\/strong><\/h2>\n<ul style=\"text-align: justify;\">\n<li>Traders with a turnover of less than 10 lakh a year are neither required to pay GST nor to take registration for it.<\/li>\n<li>Those with annual sales between 10 lakh and \u00a050 lakh will need to pay tax at a rate lower than standard GST rate.<\/li>\n<li>However, the concessional tax rate would not be available for traders \u00a0making inter-State transactions irrespective of their turnover.<\/li>\n<li>The quantum of concession will be decided by proposed GST Council which will also determine standard GST rate.<\/li>\n<li>For Northeastern States, the threshold could be 5 lakh.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong><span style=\"color: #ff6600;\">This proposed minimum turnover levels for GST mean two things:<\/span><\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>Thousands of small traders below annual sales of 10 lakh would go out of the tax net as in many State VAT threshold is \u00a05 lakh.<\/li>\n<li>Some of the tiny manufacturing units will come under the tax net given that the Central Excise duty is now payable only for units with 1.5 crore turnover.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-6208\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2015\/07\/GST-registration-.jpg\" alt=\"GST THRESHOLD Limit \" width=\"868\" height=\"533\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2015\/07\/GST-registration-.jpg 868w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2015\/07\/GST-registration--300x184.jpg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2015\/07\/GST-registration--768x472.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2015\/07\/GST-registration--800x491.jpg 800w\" sizes=\"(max-width: 868px) 100vw, 868px\" \/><\/p>\n<p style=\"text-align: justify;\">The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Hope the information will assist you in your Professional endeavors. For query or help, contact: <a href=\"mailto:info@caindelhiindia.com\">singh@caindelhiindia.com<\/a> or call at 9555 555 480<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GST THRESHOLD AT 10 LAKH, LOWER RATES FOR TURNOVER UP TO 50\u00a0LAKH Traders with a turnover of less than 10 lakh a year are neither required to pay GST nor to take registration for it. Those with annual sales between 10 lakh and \u00a050 lakh will need to pay tax at a rate lower than &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[144],"tags":[566,502],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/151"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=151"}],"version-history":[{"count":5,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/151\/revisions"}],"predecessor-version":[{"id":6209,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/151\/revisions\/6209"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}