Taxable limit
This query is : Open
Ashish Khillan
(Querist)
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.
e.g= money transfer, aadhar card centre etc.
CA Shubhanshu Jain
(Expert)
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
- 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
(Querist)
21 June 2017
Sir, can i know list of reverse charge ?
CA Shubhanshu Jain
(Expert)
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
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
Message likes :
1 times
Guest
Guest
(Expert)
21 June 2017
1)To understand when to take complusary registration see this video.
https://youtu.be/DV_UzOkvUIs
Message likes :
1 times
Guest
Guest
(Expert)
21 June 2017
2) To understand reverse charge see this video.
https://youtu.be/L11cxluHOIc
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
