The Telangana government has recently opted to amend the SGST Act which would further help the system to offer a refreshed version of return filing and would also facilitate input tax credit under the GST.
As per the amendments, it would offer multiple registration facilities to the taxpayers for multiple locations within the state. Also, there would be separate registration facility for the business entities residing inside the special economic zones.
After the relaxation is given by the GST council meeting the state government brought into effect the ordinance i.e. The Telangana Goods and Services Tax (Amendment) Ordinance 2019.
The ordinance brings temporary suspension of registration along with cancellation of registration which is still under progress. It is said that the provision would bring the composition threshold limit to the upward of 1.5 crores.
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Also, the composition taxpayers will be allowed to offer services apart from the restaurant services considered the value exceeding 10 per cent of the turnover in the FY or 5 lakh whichever is higher.
The government is also in charge for notifying the class of registered person in order to pay tax on the reverse charge in consideration of both recipients of supplies of certain category goods and or from the unregistered supplies.
