Gst- ca firms

This query is : Resolved

Vicky Ek. (Querist)
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19 July 2018 Dear Sir,

Can CA Firms continue cash basis accounting under GST?
This is one of the major confusions that has been there and I'm sure if you are associated with
a professional firm even you might have gone through it.

Pl suggest how to account for the same and record income.

Vishakha Kejriwal.

Vishakha Kejriwal. (Expert)
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20 July 2018 There is no bar on continuing with cash basis of accounting where you are a CA firm, however, for GST , you need to make separate calculations.

Vicky Ek.

Vicky Ek. (Querist)
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24 July 2018 Hi. Thank you for the reply.

In case of CA Firm which has turnover less than 20 lakhs but is providing inter state services,
registration under GST is no longer required.

So can a firm which had opted for GST registration initially, opt out now.?

Vishakha Kejriwal.

Vishakha Kejriwal. (Expert)
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25 July 2018 Yes, please refer to Section 29(1) clause (c) of the CGST Act wherein it is stated that you could opt for cancellation in case you are no longer liable for registration u/s 22 or Section 24 of the CGST Act.

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