GST Registration of a small business
This query is : Resolved
Siba Prasad Sarangi
(Querist)
02 February 2022
A business man who has business for 5 years wants to get registered under GST in March,2022. Turnover of his business is around 34-40 lakh . Could he opt for regular scheme? If regular, could he file both GSTR-1 and 3B monthly? After GST registration could he claim all input tax credit with the invoices that he paid in F.Y.2021-22? Please reply.
CA R SEETHARAMAN
(Expert)
03 February 2022
Yes, he can opt for regular scheme.
Yes, monthly return can be filed.
ITC before registration for F Y 2021-22 can't be claimed as it will not appear in GSTR 2b.
Yes, monthly return can be filed.
ITC before registration for F Y 2021-22 can't be claimed as it will not appear in GSTR 2b.
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