Hotline: 1800 102 2007
X
Search Business Opportunities
2009-10-21

Small manufacturers might suffer due to GST

A number of small producers could come in the tax net under the proposed Goods and Services Tax (GST) as the draft being examined by states seeks to impose the new levy on units with a minimum annual

A number of small producers could come in the tax net under the proposed Goods and Services Tax (GST) as the draft being examined by states seeks to impose the new levy on units with a minimum annual turnover of Rs 10 lakh. 

Presently all taxes have separate threshold levels—Rs 1.5 crore for excise levy, Rs 10 lakh for service tax and individual state limits for value-added tax (VAT), such as Rs 2 lakh in Karnataka and Haryana to Rs 50 lakh in Punjab. 

GST will replace all these taxes, with a likely uniform exemption limit of Rs 10 lakh. Small units will be only marginally hurt by a low exemption limit of Rs 10 lakh as they can claim credit for taxes on inputs. 
 
 
 

 

Related opportunities
  • Laundry & Dry Cleaning
    Fully Integrated One-Stop Laundry Solutions Expert! About Us: Waashub is a full-scale..
    Locations looking for expansion Karnataka
    Establishment year 2015
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Furniture/Home Decor & Furnishing
    About Us : Bubblegum furniture, established in 2015, is a concept..
    Locations looking for expansion Maharashtra
    Establishment year 2015
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • About Us: Shweta Gaur Make-up artist Salon is the salon of..
    Locations looking for expansion Delhi
    Establishment year 2009
    Franchising Launch Date 2018
    Investment size Rs. 50lac - 1 Cr.
    Space required 1200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Manufacturing & Ancillary
    About: Starkenn represent the world’s largest bicycle manufacturer and brand GIANT,..
    Locations looking for expansion Maharashtra
    Establishment year 1977
    Franchising Launch Date 2017
    Investment size Rs. 30lac - 50lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts