What is the threshold limit for GST registration for service providers?
Practice Questions
Q1
What is the threshold limit for GST registration for service providers?
Rs. 10 lakhs
Rs. 20 lakhs
Rs. 30 lakhs
Rs. 50 lakhs
Questions & Step-by-Step Solutions
What is the threshold limit for GST registration for service providers?
Step 1: Understand what GST is. GST stands for Goods and Services Tax, which is a tax on services and goods in India.
Step 2: Know what GST registration means. GST registration is a process where a business gets registered under GST to collect tax from customers.
Step 3: Learn about the threshold limit. The threshold limit is the minimum amount of revenue a service provider must earn to be required to register for GST.
Step 4: Identify the threshold limit for service providers. For most service providers, this limit is Rs. 20 lakhs.
Step 5: Note the special case for certain states. In special category states, the threshold limit is lower, at Rs. 10 lakhs.