Taxable limit

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Ashish Khillan (Querist)
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21 June 2017 limit of 20 lakh is applicable for all goods and serivces or any servie is there tht is taxable from Rs. 1 ?
e.g= money transfer, aadhar card centre etc.

CA Shubhanshu Jain

CA Shubhanshu Jain (Expert)
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21 June 2017 Generally threshold limit of 20 lakhs is applicable in each case but under following circumstances supplier has to take registration even his sale is of Rs.1

- persons making any inter-State taxable supply;
- casual taxable persons making taxable supply;
- persons who are required to pay tax under reverse charge;
- non-resident taxable persons making taxable supply;
- persons who are required to deduct tax under section 51 (Tax Deduction at Source);
- persons who supply goods or services or both on behalf of other registered taxable persons whether as an agent or otherwise;
- input service distributor;
- every person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person

Ashish Khillan

Ashish Khillan (Querist)
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21 June 2017 Sir, can i know list of reverse charge ?

CA Shubhanshu Jain

CA Shubhanshu Jain (Expert)
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21 June 2017 Reverse charge is applied in two manner
as per 9(3) - on specified services
as per 9(4) - On supplies received from unregistered dealer

Currently only supply of services are covered under reverse charge in 9(3) and only those services are specified which were previously under service tax like goods transport agency etc.

Plus if we get any supply from unregistered dealer whether of goods or services GST is to be paid under RCM

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Guest

Guest (Expert)

21 June 2017 1)To understand when to take complusary registration see this video. https://youtu.be/DV_UzOkvUIs

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Guest

Guest (Expert)

21 June 2017 2) To understand reverse charge see this video. https://youtu.be/L11cxluHOIc

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