STATE TIMES NEWS JAMMU: The government notified class of registered person under Jammu & Kashmir Goods and Services Taxes, whose aggregate turnover in a financial year exceeds one hundred crore. “In exercise of the powers conferred by sub-rule (4) to rule 48 of the Jammu and Kashmir Goods and Services Tax Act, 2017, (Act No. V of 2017), the Government, on the recommendation of the Council hereby notifies registered person, whose aggregate turnover in a financial year exceeds Rs 100 crore, as a class of registered person who shall prepare invoice in terms of sub-rule (4) of rule 48 of the said rules in respect of supply of goods or services or both to a registered person,” reads the SO39 notification issued by Dr. Arun Kumar Mehta, Financial Commissioner, Finance Department. This notification shall come into force from the April 1, 2020.
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