Gst - income tax return

This query is : Resolved

Rakhi Sonalkar (Querist)
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29 May 2019 If Income as per Form 26AS exceeds Rs.20,00,000/-

But the individual has not applied for GST returns.

Then in that case what the requirement to be followed while filing income tax return.

Shrikant Toshniwal

Shrikant Toshniwal (Expert)
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29 May 2019 1st thing is 26as not determine ur income
2nd if ur other source income like fdr is show in 26as then ur not liable for gst
3rd if ur taxable turnover exceed 20laks during year then u liable to register in gst

Rakhi Sonalkar

Rakhi Sonalkar (Querist)
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29 May 2019 Taxable turnover exceeds 20 Lakhs but not yet registered ...

If income shown in return of taxable then there will be any fine / penalty of non-registration ...

As limit exceeds now to 40 Lakhs ...

Ranjan Dayal

Ranjan Dayal (Expert)
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30 May 2019 Limit Exceed 40 Lakh only in case good in case of service limit still 20 Lakh, Secondly If assessee is not taken registration than department may raise show cause notice.

CA. Brijesh Baranwal

CA. Brijesh Baranwal (Expert)
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01 June 2019 First of all, study and analyse nature of receipts. If GST liability arises, you should get registration and comply with GST laws. Otherwise, you may comply with Income Tax Laws only.