Registration under gst

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This discussion clarifies GST registration thresholds for businesses supplying both goods and services. It confirms that the ₹20 lakh limit applies in such cases. The advice also covers opting for the composition scheme retrospectively, explaining how to pay previous tax liabilities using DRC-03 and detailing the applicable composition rates based on the proportion of services supplied.

VIPIN GUPTA

VIPIN GUPTA (Querist)
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15 November 2020 A person is rendering both service and goods will limit 40 lacs or 20 lacs apply for registration, any clarification on it

Lekhraj sood

Lekhraj sood (Expert)
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16 November 2020 He will be covered in Rs.20 lakhs.

VIPIN GUPTA

VIPIN GUPTA (Expert)
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16 November 2020 His receipts are 27 lacs in fy 2019-20, can we take registration in current year under composition and pay last year tax through DRC03.

Lekhraj sood

Lekhraj sood (Expert)
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16 November 2020 Is the value of supply of services is more than 10% of the total supply (of goods and services) in 19-20? If yes then your rate of composition will be 1%. If it is more than the composition rate will be 6%.You can opt for composition scheme now and pay GST with interest till the date of registering and opting for composition scheme.

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