Mumbai, 3/9/2019: The turnover limit for goods provider businessmen’s registration was Rs. 20 lakh under Good and Service Tax Act. The limit is increased to Rs. 40 lakh since 1 April 2019. Now small-scale businessmen can save both their time and money needed for tax-payment as the turnover limit is increased, informed Finance Minister Sudhir Mungantiwar.

Simple Registration Process

The registration process under GST Act is completely online and simple. Taxpayers can upload their applications and related documents while registering. Hence, now businessmen will not need to visit tax department for registration, corrections, or cancelation of registrations. Businessmen are given registration in three days from the time of online application. Small-scale businessmen who have not reached turnover limit can register under GST Act.

          More than 15 lakh businessmen in Maharashtra have registered themselves under the GST Act due to this easy system. Finance Minister also told that the registration number is more compared to other states.

          Under the GST Act, a single registration is needed for the state if the business expanded in many states. Businessmen and industrialists have demanded different registrations for different places in the same state. Hence, they are provided the demanded facility, told Finance Minister.

          As a registered taxpayer, he can officially collect tax from his customers and his registered customers can get tax subtraction. A taxpayer can also avail tax subtraction the purchase and pay the tax on its supply.