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Goods and Service Tax

It is an essential requirement in the tax system to identify the taxpayer and this is possible through registration. In the new regime of tax payment, business whose turnover exceeds Rs.40lakhs in a financial year is required to register as a normal taxable person. But the threshold limit is INR 10 lakh if you have a business in the north-eastern states, J&K, Himachal Pradesh, and Uttarakhand. 

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