Mridul Basiya (1 Points)
29 April 2022
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(3549 Points)
Replied 29 April 2022
As per the new definition and threshold limits, companies with a paid-up capital of INR 2 crore or less, and turnover of INR 20 crore or less come are defined as small companies. The earlier threshold was INR 50 lacs or less in paid-up capital and INR 2 crore or less in turnover.
CA Puja Sharma
(Chartered Accountant)
(4978 Points)
Replied 29 April 2022
The government has amended the definition of a small company, which was applicable from 1st April 2021.
PSC- 2 Crore
Turnover - 20 Crore.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
