Welcomes Decision to Increase Threshold Limit From 10 Lakh to Rs 20 Lakh
Shimla 22 July:
Chief Minister Shri Jai Ram Thakur has hailed the decision of the Union Government to increase the threshold limit for registration of dealers from Rs. 10 lakh to Rs. 20 lakh per annum. He said that the decision of the Centre Government would go a long way in providing much-needed relief to the businessmen of the State. Thus business men with less than Rs. 20 lakh annual turnover would not be required to register under GST, he added.
Shri Jai Ram Thakur said that the State Government has urged the Union Government to enhance the limit for the businessmen of the State keeping in view its difficult topographical conditions along with some other hilly states like Assam and Uttarakhand. He said that now most of the special category states would come under Rs. 20 lakh threshold limit for registration of dealers thereby benefitting lakhs of businessmen.
Chief Minister said that about 75 to 80 per cent businessmen were small businessmen in the State and they would be immensely benefitted from this decision of the Union Government. He said that till date, over 92000 dealers have already registered under GST and out of these over 80 per cent would be benefitted as they would be required to file lesser number of returns per annum.
Chief Minister said that apart from this major decision, the Centre Government has also agreed that all the Business Concerns with annual turnover up to Rs. 5 crores would now be required to file quarterly returns. Earlier this limit was Rs. 1.5 crores and the businessmen were facing difficulty in and would now be relieved from the pressure of filing many returns on small businesses, he said.
Shri Jai Ram Thakur said that the decision of the Union Government to reduce GST rates on washing machines, refrigerators mixers, footwear etc. would also provide much-needed relief to middle classes. He said that the decision to exempt GST on Sanitary napkins would benefit the health and hygiene of women. Earlier, 12 percent GST was being charged on sanitary napkins making it quite expensive, he said.