Saturday, 27 May 2017
A business entity that is currently registered under any of the existing tax regimes then it is compulsorily required to migrate under GST law irrespective of the threshold limits.The following central and state level tax regimes will end with introduction of Goods and Service Tax (GST)
- Central Excise duty
- Service Tax
- State VAT
- Central Sales Tax
- Entry Tax (all forms)
- Luxury Tax
- Entertainment and Amusement Tax (except when levied by the local bodies)
- Purchase Tax
- State Surcharges and Cesses so far as they relate to supply of goods and services
- Taxes on lotteries, betting and gambling
But if you are supplying goods and services and not registered under any existing tax legislative then you are liable to register only if the aggregate turnover in any financial year exceeds the threshold limit. The existing threshold limit specified by the GST council is 20 lakhs for all the states except for North Eastern States where the limit is 10 lakhs.
