In the meeting of the GST Council, a threshold limit has been agreed between the Center and the states. Which fact is true in this regard?

Question

TuteeHUB · Accepted Answer

NA

TuteeHUB · Answer

The turnover exemption limit for GST has been fixed at Rs 20 lakh per annum.

TuteeHUB · Answer

The business exemption limit for GST in the North Eastern region and hill states has been fixed at Rs 10 lakh per annum.

TuteeHUB · Answer

The base year for compensation for compensation for loss of revenue to the states after the implementation of GST rates will be 2015-16.

TuteeHUB · Answer

All of the above

1.	In the meeting of the GST Council, a threshold limit has been agreed between the Center and the states. Which fact is true in this regard?
A.	The turnover exemption limit for GST has been fixed at Rs 20 lakh per annum.
B.	The business exemption limit for GST in the North Eastern region and hill states has been fixed at Rs 10 lakh per annum.
C.	The base year for compensation for compensation for loss of revenue to the states after the implementation of GST rates will be 2015-16.
D.	All of the above
Answer» E.

Discussion