The Sector 18 Market Association, Noida President and Noida Jewellers Welfare Association General Secretary informed that he has written a letter to Union Finance Minister Smt. Nirmala Sitharaman Ji to provide relief to small traders of the country and the state and requested that the GST registration limit is 20 lakhs (10 lakhs in special status states) in the service sector and 40 lakhs (20 lakhs in special status states) for manufacturing and sale of goods. This limit should be increased to 50 lakhs (20 lakhs in special status states) in the service sector and 100 lakhs i.e. one crore (50 lakhs in special status states) for sale of goods and exemption from registration should be provided.
Small and medium traders and businessmen working in the service sector have to spend a lot of money and take a lot of time to comply with the rules and regulations of GST. Due to the changes and amendments made in the rules and laws of GST from time to time, GST has become very complex for small traders.
He said that if the government accepts the above demand and provides exemption from registration up to Rs. 50 lakh (20 lakh in special category states) in the service sector and Rs. 100 lakh i.e. one crore (50 lakh in special category states) for sale of goods, then it will definitely fulfill the government’s objectives of ease of doing business i.e. easy business system and small traders will find it easy to do business and the hassle of keeping their accounts will also end and traders’ time will also be saved and along with ease of doing business, there will be economic growth and traders will do business without fear.
He expressed hope and requested that keeping in mind the interests of traders, the central government will definitely announce relief to traders on these demands.
Source from: https://tennews.in/letter-to-union-finance-minister-to-increase-registration-limit-for-gst/
