facebook

04 Oct 2018Posted By: Mudit Handa


Small traders in Assam exempted from GST registration

It can never be contradicted that GST is not only a consumer-friendly tax reform, it is also the most adaptable tax mechanism. Very notably, the provisions under the Goods & Service Tax, India as regards have been amended repeatedly in various previous GST council meeting.

One such significant decision was taken by the GST council in its 28th meeting that had taken place on 21st July 2018. The council had put forward several amendments in the CGST Act, IGST Act, UTGST Act and the GST (Compensation to States) Act. Many noteworthy reforms in respect of GST registration were brought forward.

However, the most striking update was that the threshold limit for new GST registration in the North-Eastern States of Assam, Arunachal Pradesh, Himachal Pradesh, Meghalaya, Sikkim and Uttarakhand has now been increased from ₹10 Lakhs to ₹20 Lakhs. In this regard, the State Government has recently taken the final step towards relieving small-scale traders from the requirement of GST registration.

The State legislative assembly of Assam on October 3, 2018 had confirmed the modifications in the GST registration procedure by enacting the Assam Goods and Services Tax (Amendment) Bill, 2018.

As per the new or modified act, the threshold limit of annual turnover for mandatory GST registration has been raised to ₹20 Lakhs from the earlier ₹10 Lakhs.

What does the Assam Government think about the new amendment in the GST law?

The Finance Minister of Assam Dr Himanta Biswa Sharma has quoted-

"The amendment in the GST slab rate would considerably and substantially benefit the small traders of the state. Besides the state governments of Meghalaya and Nagaland had also got the approval from the GST Council after its 28th meeting for raising the threshold cap to ₹20 Lakhs. 

The North Eastern states were formerly clubbed together in the ₹10 lakh bracket. The majority of businesses are within this threshold cap. Now, pushing up the limit to ₹20 Lakhs would deprive the state government of considerable revenues for a short span, the gap will be filled soon with the steady increase in GST compliance by all traders."

If you need any other assistance related to GST registration in India, feel free to contact us at 8881-069-069.

Comments



Posted By Suraj mal
Posted Date 2018-10-06 14:38:07

Pls help GST filling for last Two quarter. We had been not filling of last two quarter. How much apply & GST fine now up to Date.


Posted By Mudit Handa
Posted Date 2018-10-09 11:47:14

Mr.Suraj mal, As you'e told that you haven't filed GSTR-1 for last Two quarters. Now, Non-filing of GSTR-1 is subject to a late fee @ ₹ 20/- per day in case of nil return and ₹ 50 per day in case any single transaction is recorded. However, late fee payable for delayed GSTR-1 filing from Jul 2017 to Sep 2018 has been waived off till Oct 31, 2018. Now you can easily file GSTR-1 wihtout late fee before Oct 31. we've shared your contact with our business advisor.


Give a Reply

Fill up the form

x
E-startupIndia Mobile App

GET E-STARTUP INDIA IN YOUR
pocket!

Download our free Android App and get realtime update on your order status.
Easily connect with our professionals handling your order over chat & mobile.
Never miss business compliances due date with advance notifications.

Get E-startupIndia in your mobile

Why Choose Us

e-startupindia member of GOOGLE

Serving business owners with an Average 4.8+ Google Rating.

e-startupindia certified #AxixBank

Trusted by Axis bank to cater its clients all licensing & compliance needs.

e-startupindia NG Alliance Partner

Providing lending solutions for business needs with NeoGrowth.

e-startupindia Google Partner

Open Neo bank account worldwide & provides cross-border remittance solutions.

e-startupindia member of CII

E-startupindia is a Proudly Member of Confederation of Indian Industry.The CII is a premier business association in India which works to create an environment.

e-startupindia certified #Etstartupindia

E-Startup India is duly certified under GOI's Startup India scheme and is renowned for our tech-driven solutions for business & legal services requirements for MSMEs.

e-startupindia Google Partner

E-Startup India is a Google Partner, which implies we are rigorously involved in assisting SME businesses to market their presence in the digital world.

Popular Services

Private Limited Company | Public Limited Company | One Person Company | Limited Liability Partnership | Partnership Firm | Sole Proprietorship Firm | Section 8 Company Registration | USA Company Registration | UK Company Registration | UAE Company Registration | Singapore Company Registration | Company Registration Hong Kong | Import Export Code | IEC Modification | AD Code Registration | Spice Board Registration | US FDA Certification | ISO 9001 2015 | ISO 14001 EMS | ISO 22000 FSMS | ISO 27001 ISMS | ISO 50001 Energy Management | ISO 45001 | ISO Surveillance | ISO Certification | MSME Registration | FSSAI Registration | Shop Establishment Registration | Barcode Registration | Coffee Board Registration | Startup India Certificate | ZED Certification | Trademark | Trademark Objection Reply | Trademark Opposition | Trademark Hearing | Trademark Formality Check Fail | Website Development | Patent | Copyright | Design Registration | Business Name Suggestion | Logo Designing | Trademark Assignment Service | GST Registration | GST Modification | GST Cancellation | GST Return Filing | GST Invoice Software | UIN Registration | Income Tax Return | Income Tax Notice | Income Tax Refund | Income Tax Assessment | TDS Return Filing | Form 15CA / CB | Professional Tax Registration | 12A and 80G Registration | FCRA Registration | CSR Registration | Project Report | Pitch Deck | Seed Fund Startup India | Accounting for Ecommerce | Virtual cfo services in india | Bookkeeping & Accounting | Private limited Company Annual Compliance | Form INC-22A | Form 15CA / CB | Company Strike Off | Commencement of Business | Fssai annual return | Online CA Consultancy | Income Tax Return Filling | LLP Annual Compliances | Form DIR-3 KYC | Virtual Office for Company Registration | Dubai Company Registration |

IN THE MEDIA

  • e-startupindia South Asia's Leading Multimedia News Agency
  • Business Standard
  • e-startupindia Outlook
  • e-startupindia Htmedia
  • e-startupindia Yahoo News
  • e-startupindia New Delhi Times
  • e-startupindia India.com
  • e-startupindia IBTN9

CONNECT WITH US