Jharkhand government Wednesday announced that the maximum limit of Goods and Services Tax (GST) for registration has been increased to Rs 40 lakh from the current Rs 20 lakh per annum. A total 80,000 small and medium traders would benefit from this decision as they would come out from the tax range, an official release said here.
During a review meeting here, Chief Minister Raghubar Das issued the necessary orders to the Commercial Taxes secretary. In the January 10 meeting of GST Council, it was left on the state governments to decide upon increasing the limit from Rs 20 lakh to Rs 40 lakh and in this context, the Jharkhand government decided to give relief to the traders, the release said.
(With inputs from agencies.)