Small trader

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This query is : Resolved

kailash garg (Querist)

14 May 2018 I have small retail shop in Assam and turnover is below 10 lakh, but we have earlier Tin no so now we also get Gstin number.but our circle officer tell to cancel the Gstin number. is it compulsory to cancel the GSTIN if our Sell is below 10 lakh. please suggest if we cancel now Gstin number and in future our sell may increase then we have again apply for new,so can we continue with the same GSTIN number.

please advice in this regards.

vikash garg

CA Ankit R Momaya

CA Ankit R Momaya (Expert)

14 May 2018 Although the threshold limit to obtain GST Registration is Rs. 20 Lacs. An assesse may voluntarily opt to take registration even if his turnover does not exceed the threshold limit. There cannot be compulsion from the Department to cancel registration in the above case. My suggestion is not to cancel the current GSTIN if you do not face any other issues.

kailash garg

kailash garg (Querist)

14 May 2018 sir ,
for continue with GStin no,Is their any rule or have to pay any tax amount or any books of account to maintain
or we have to do any thing to continue our GSTIN no.

please suggest.

CA Ankit R Momaya

CA Ankit R Momaya (Expert)

14 May 2018 Yes, you have to maintain books of accounts, file monthly returns and have to collect GST at appropriate rates. You are however eligible for Input Tax Credit on inward supplies

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