[amp_mcq option1=”12″ option2=”15″ option3=”20″ option4=”25 E. 30″ correct=”option3″]<\/p>\n
The correct answer is C. 20 lakh.<\/p>\n
The GST threshold limit is the turnover limit below which a person is not liable to register under GST. The GST threshold limit for normal states is 20 lakh. This means that a person whose turnover is below 20 lakh in a financial year is not required to register under GST.<\/p>\n
The GST threshold limit for special category states is 10 lakh. This means that a person whose turnover is below 10 lakh in a financial year is not required to register under GST in special category states.<\/p>\n
The GST threshold limit is applicable for all businesses, except for those businesses that are required to register under GST irrespective of their turnover. These businesses include businesses that are engaged in inter-state supply of goods or services, businesses that are engaged in making taxable supplies of goods or services to government departments or agencies, and businesses that are engaged in making supplies of goods or services through an e-commerce operator.<\/p>\n
The GST threshold limit is revised every year. The GST threshold limit for the financial year 2022-23 is 20 lakh.<\/p>\n","protected":false},"excerpt":{"rendered":"
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