Increase threshold for GST registration to Rs 40L: FTCCI
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Hyderabad:The Federation of Telangana Chambers of Commerce and Industry (FTCCI) organised a Conclave on ‘GST and Globalization,” in the city. The industry body appealed to the Chief Minister, and the State Finance Minister to consider their representation and increase the threshold limit for GST registration to a business’ annual turnover of Rs 40 lakh.
FTCCI president Meela Jayadev welcoming the gathering asked the Government of Telangana to increase the limit for GST registration from Rs 20 lakh to Rs 40 lakh. He said, “Though several representations were made to the earlier government the issue has not been addressed.” He appealed to the current Telangana Chief Minister, and the State Finance Minister to consider their representation and increase the threshold limit. This will support many SMEs, he added.
Justice Challa Kodandaram, retired High Court Judge of unified Andhra Pradesh, said the rule makers should adopt practical approach for better compliance.
