THRESHOLD LIMIT CROSSED LAST YEAR

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This query is : Resolved

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A friend exceeded the GST threshold limit of 3 lac rupees last year but failed to register for GST. Upon calculating income for their tax return, they realised the oversight. They need advice on when to register (having crossed the limit in December 2019) and how to deposit the owed GST, including interest and penalties, as they hadn't charged clients. The advice given is to register immediately, issue tax invoices, and collect GST to avoid further penalties, noting that compliance is required only after registration.

Rahul Varma

Rahul Varma (Querist)

12 September 2020 Hi all, My friend has crossed his threshold limit in the last year almost above 3 lac but he has not registered in the GST. Now, we calculate his income for income tax return then we realised.
1) We are going to registered but from which date (crossed in Dec19) 2) which account we do have to deposit GST along with Int & penalty cos we have not charged GST from the client?

Please help and give the solution. Regards

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

12 September 2020 Register now in GST issue tax invoice collect and pay GST. Voluntary compliance will avoid you penalty.
GST compliance required after registration only.

Lekhraj sood

Lekhraj sood (Expert)

13 September 2020 As per rule 10(3) Where an application for registration has been submitted by the applicant after the expiry of thirty days from the date of his becoming liable to registration, the effective
date of registration shall be the date of the grant of registration under sub-rule (1) or
sub-rule (3) or sub-rule (5) of rule 9
So you need to get registered immediately and start issuing tax invoice by charging GST.

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