Threshold limit exemption
This query is : Open
ajit agrawal
(Querist)
23 July 2017
Sir/Madam
My doubt is about the Rs 20 lakhs limit. If i have taken GST registration on a voluntary basis although my turnover will and always had been below 20 lacs . is it compulsory for me to pay gst or not ?
My doubt is about the Rs 20 lakhs limit. If i have taken GST registration on a voluntary basis although my turnover will and always had been below 20 lacs . is it compulsory for me to pay gst or not ?
CA Altamush Zafar
(Expert)
23 July 2017
Yes its compulsory to pay gst if registered.
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ajit agrawal
(Querist)
23 July 2017
Sir
If turnover of composition dealer exceeds 75 lacs in the current year, whether he can continue to be a composition dealer ?
If turnover of composition dealer exceeds 75 lacs in the current year, whether he can continue to be a composition dealer ?
CA Altamush Zafar
(Expert)
23 July 2017
No he will have to take normal registration. He will be liable to pay taxes under normal scheme from the day he crosses 75 lakh turnover limit. Depending on whether he applies for registration within 30 days of crossing limit his date of registration will be decided.
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