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below 20 lacs
my business is manufacturing n trading of agarbatties and my sale is below 20 lacs yearly. i have not apply for gst. but supermkts vendors are not purchasing from me thu i m givening them the % of my tax and also companies are not allowing to purchase without gst numbers. what should i do?? pls suggest me.
Replies (9)
U can take voluntary registration to cope up with situation
Take GST Number for your own long term benefit. If you take GST Number you will be able to claim credit of input tax paid and lower your cost.
thankyou sir. for your suggestion. but pls suggest me. will i have to keep stocks and submit 3 monthly returns??
If you opt for composition scheme than you have to file quarterly returns. Tax will be payable @ 2%. In normal Registration than you are entitled to claim Input tax credit however monthly returns will have to be filed.
or else the company can raise self invoice and pay tax on RCM BASIS and claim credit for same !!
What is RCM SIR. Can u please tell me in brief.
if any registered person purchase from an un registered person the registered person has to raise the self invoice bill as per GST so the company can take the credit for the same !!
composition under section 10 is better option
thankyou sir's.
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