You are here: Home » News-CM » Economy » News
Business Standard

Division of assesses under GSTN

Capital Market 

The division of assesses between Centre and State is decided by the Centre and State Governments. got an application developed using which Central and State authorities have uploaded the data on allocation of migrated taxpayers in the GST System database. As on 8th March, 2018 data on division of 60,89,534 migrated taxpayers has been entered into GST System.

In order to ensure single interface for assesses under GST, the State Level Committees comprising of Chief Commissioner/ of Central and of State have assigned the taxpayers to be under either the Central or State administration based on the turnover of the assesses on a proportionate basis.

The assesses having turnover above Rs. 1.5 crores are to be assigned in the ratio of 50:50 between the Centre and the respective State while those having turnover less than Rs. 1.5 Crores have to be assigned in the ratio of 10:90 between the Centre and the respective State.

No choice has been given to assesses to opt for a particular administration i.e. Centre and State.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 13 2018. 16:49 IST