FTCCI Advocates Higher GST Registration Limit in Telangana to Support SMEs:

FTCCI Advocates Higher GST Registration Limit in Telangana to Support SMEs The Federation of Telangana Chambers of Commerce and Industry (FTCCI) has appealed to the state government to raise the Goods and Services Tax registration threshold from Rs. 20 lakh to Rs. 40 lakh, on par with other states in India. That step would be pivotal in strengthening the small and medium enterprises of the state, according to the organization. Telangana is the only state that has retained the Rs. 20 lakh limit for GST registration, while other states have accepted this higher threshold. FTCCI has stressed that such disparity adds further compliance costs to SMEs, thereby making them difficult to manage in an effective manner. The demand was moved forward during an open house meeting on GST organized by FTCCI's GST and Customs Committee. It had the patronage of senior officials like the Principal Chief Commissioner of CGST and Customs (Hyderabad Zone), the Principal Secretary (Revenue) and the Commissioner of Commercial Taxes, among others. Representatives from 15 prominent industry associations, including the Bulk Drug Manufacturers Association, CREDAI, and Telangana Builders Federation, also attended the event. During the discussion, it was brought forth that raising the threshold will align Telangana with the national norm and improve the ease of doing business for SMEs. FTCCI has repeatedly appealed to the state's leadership, Chief Minister and Finance Minister, that this long-pending issue needs attention. The chamber repeated the call for more timely action to ease SMEs' unnecessary compliance pressures, with the intention of creating an increasingly business-friendly environment in the state.