Hi
Please find attached article published in the Business Standard on April 11, providing updates on the GST implementation. The highlights of the article are as given below-
Ø Annual threshold limit of GST would be INR 25 lakhs.
Ø Dealers with an annual turnover of upto INR 60 lakhs have the option to pay composition tax at 1%.
Ø Dealers with turnover of INR 1.5 crore would be taxed by center, who would later distribute the dues to the states.
Ø There would be no threshold limit in case of inter-state movement of goods.
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