23/11/2016
Dear Reader
Did You Know?
GST Migration is Started from November 15, 2016 for Sales Tax/ VAT- TIN/ CST/ Service Tax/ Central Excise.
The GST regime will be required to take State specific single registration for CGST, IGST and SGST purposes.
As per current news :
“A higher threshold of Rs.20 lakh [as against earlier proposed limit of Rs.10 lakh] is also a good news,” Rajeev Dimri, Leader, Indirect Tax, BMR Associates, said in an e-mailed statement. “Many small scale traders and service providers would be saved from undertaking GST compliances and it also reduces a substantial burden for tax authorities to assess small time dealers.”
The States would have sole jurisdiction over assessees (currently in the Value Added Tax [VAT] net at present) having a turnover of Rs.1.5 crore or less, while the administrative control of businesses with a turnover exceeding that limit would be jointly with the Central and State governments, Mr. Jaitley said.
What is the format of Provisional ID?
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Darshan J. Shah & Associates.
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