Regular Scheme & Composition Scheme
This query is : Resolved
30 April 2021
Respected Experts,
I am a registered owner of Matrimonial Website and my business comes under indian OIDAR service provider. I understand that for services the threshold turnover limit is rs.20 Lakhs for the Financial year.
When i file GST return how do i pay GST? Please refer the example i have given below.
for April 2021 my income is 6 Lakhs. I will file NIL GST return for this month.
for May 2021 my income is 8 Lakhs. (aggregate turnover is 14 Lakhs) NIL GST return.
for June 2021 my income is 10 Lakhs (aggregate turnover is 24 Lakhs)
but for June 2021 my aggregate turnover exceeds rs.20 Lakhs for SERVICE PROVIDER.
So I pay GST 18% for only rs.4 Lakhs (taxable value) And subsequent months from July 2021 I will pay GST according to the income of that particular month.
Please advice me if my understanding is CORRECT.
Thanks in Advance
J RANGARAJAN
I am a registered owner of Matrimonial Website and my business comes under indian OIDAR service provider. I understand that for services the threshold turnover limit is rs.20 Lakhs for the Financial year.
When i file GST return how do i pay GST? Please refer the example i have given below.
for April 2021 my income is 6 Lakhs. I will file NIL GST return for this month.
for May 2021 my income is 8 Lakhs. (aggregate turnover is 14 Lakhs) NIL GST return.
for June 2021 my income is 10 Lakhs (aggregate turnover is 24 Lakhs)
but for June 2021 my aggregate turnover exceeds rs.20 Lakhs for SERVICE PROVIDER.
So I pay GST 18% for only rs.4 Lakhs (taxable value) And subsequent months from July 2021 I will pay GST according to the income of that particular month.
Please advice me if my understanding is CORRECT.
Thanks in Advance
J RANGARAJAN
01 May 2021
Register under GST in June 2021 and pay GST for 4 lacs and thereafter every month.
If you have already registered under GST you have to pay GST from the date of registration irrespective of turnover.
If you have already registered under GST you have to pay GST from the date of registration irrespective of turnover.
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03 May 2021
Thank you CA R. Seetharaman sir.
03 May 2021
You are welcome............
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