Private Limited Company - GSTIN, Director Salary and Others

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This query is : Resolved

Mallikarjun (Querist)

25 September 2019 Good Day Expert,

We recently registered a Private Limited Company. The revenue is mainly through remittance (in USD) on monthly basis. Google Asia Pacific Pte. Ltd. pays us. We haven't taken GSTIN.

What is the threshold of company's annual income to apply for GSTIN in our case?

Can the Directors (who are working full time in this company and hold no position in other entities) take monthly salary? If yes, what is the limit monthly/annually?

Also, neither the company's income nor number of employees(3) does not cut the threshold to open salary accounts.

Can we open Savings account for Directors and deposit salary in those accounts? If yes, can we apply for ITR and how?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

25 September 2019 If that remittance relate to export of service/goods take GSTIN immediately. No threshold applicable in case of exports. File letter of undertaking in GST portal.
Monthly salary can be paid to directors no limit.
Open Savings account for Directors and deposit salary in those accounts.
Yes file ITR.

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