Basic exemption limit for small dealers/suppliers under GST in India
by Paras Mehra 2.94K
Introduction
For the first time in India, we have two basic exemption limits which are as follows;
Area |
Amount |
The North Eastern States |
Rs.10 Lakh |
Rest of India |
Rs.20 Lakh |
No one has the clear idea about why there is two basic exemption limits available based upon the location, however since it is the rule, we have to follow.
Under North- Eastern India, the following states are covered;
- Arunachal Pradesh
- Assam
- Jammu and Kashmir
- Manipur
- Meghalaya
- Mizoram
- Nagaland
- Sikkim
- Tripura
- Himanchal Pradesh
- Uttarakhand.
All these states have been given a special category under the Constitution of India, and the basic exemption limit of Rs.10 Lakh shall be applicable.
Conclusion
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