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In a good news for almost 80,000 small and medium traders in Jharkhand, the government has raised the minimum turnover limit from Rs 20 lakh to Rs 40 lakh.

Those who have annual business turnover upto Rs 40 lakh will not have to pay Goods and Services Tax (GST). They will be out of the net of the tax. Chief Minister (CM) Raghubar Das has given a directive in this regard to the Commercial Taxes Secretary in a review meeting on Wednesday.

Almost 80,000 businessmen will not have to register under GST on the basis of this decision of the State Government. Speaking on the occasion the CM said that from Rs 20 to 40 lakhs, a large number of traders were fall within the purview of GST. With this decision, small level and medium level traders will not have to face trouble of GST. 

It is significant that in the meeting of GST Council on January 10 in Centre, it was decided that the State government can decide to increase the limit of registration of GST to Rs 40 lakhs. In the light of this decision, the Jharkhand government has decided to give relief to traders.

Published On : 17-01-2019

Source : The Daily Pioneer

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