#FinalizationCriteria Archives - Knowledge Base

Are there any threshold limit of account finalization for fuel dealers?

Account Finalization for Fuel Dealers Yes, there are threshold limits for account finalization for fuel dealers. The threshold limit is determine by the turnover of the fuel dealer. If the turnover of the fuel dealer is less than Rs. 1 crore, the accounts can be finalize within 6 months of the close of the… Read More »

Are there any threshold limit of account finalization for Electrical Items Sales & Services?

Account Finalization for Electrical Items Yes, there are electric account thresholds limits for account finalization for electrical items sales & services in India. The threshold limit is set by the Goods and Services Tax (GST) Council and is currently INR 200,000. This means that for any invoice amount below INR 200,000, the seller is… Read More »