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)

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)

16 November 2020 He will be covered in Rs.20 lakhs.

VIPIN GUPTA

VIPIN GUPTA (Expert)

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)

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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