Industry urges government to Increase GST registration threshold limit from Rs 20 lakh to Rs 40 lakh.

A Conclave on ‘GST and Globalization’ was organized by the Federation of Telangana Chambers of Commerce and Industry (FTCCI) in the city. During the event, the industry body urged the Chief Minister and the State Finance Minister to raise the threshold limit for GST registration to Rs 40 lakh annually.

In his address, the president of FTCCI, welcomed the attendees and emphasized the need for the Government of Telangana to consider increasing the GST registration threshold from Rs 20 lakh to Rs 40 lakh. He highlighted that despite previous representations to the government, this issue remained unaddressed.

He appealed to the current Chief Minister and State Finance Minister to give heed to their representation, emphasizing that such a move would offer substantial support to numerous SMEs. Justice Challa Kodandaram, a retired High Court Judge of unified Andhra Pradesh, stressed the importance of a practical approach by rule makers to enhance compliance.

Source from: https://www.bizzbuzz.news/national/increase-threshold-for-gst-registration-to-rs-40l-ftcci-1290138