In 32nd meeting of GST council some important changes are introduced. Now there will be new threshold in GST for registration. Different thresholds will be there for service providers and dealers.
Here the catch is that deposit of money and earning is also a service, so ultimately the limit will be Rs. 20 lac only. It is hard to find a person dealing only in goods. This threshold is also subject to the approval of states. So now on, in some states the limit for registration is Rs. 20 lac and in some it is 40lac. A person providing services it is 20 lac and for goods its 40lac.
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