Threshold exemption
This query is : Resolved
17 April 2019
Query 1: If a voluntarily GST registered person thinks that "upto 20 lakhs limit, there is no GST" and files returns under zero rated, even though turnover did not exceed 20 lakhs for the financial year, what is the remedy?
1. Only intra state taxable services
2. Turnover lesser than 20 lakhs
3. Did not collect any GST nor raised any Invoice
4. No ITC availed
Query 2: If liability arises, whether declared turnover can be considered as inclusive of GST, resulting in
"Turnover declared in GSTR = Taxable turnover + GST at 18%"
1. Only intra state taxable services
2. Turnover lesser than 20 lakhs
3. Did not collect any GST nor raised any Invoice
4. No ITC availed
Query 2: If liability arises, whether declared turnover can be considered as inclusive of GST, resulting in
"Turnover declared in GSTR = Taxable turnover + GST at 18%"
17 April 2019
Once you register for GST you are liable to collect GST even your turn over below threshold limit.
Yes you can consider the sales inclusive of GST If you not collect GST, and discharge GST considering Reverse of GST.
Yes you can consider the sales inclusive of GST If you not collect GST, and discharge GST considering Reverse of GST.
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