hi, I was compolusary migrated to GST from VAT COT. For last 2 FY Turnover is below 12Lacs. now my question is whether to continue under GST or cancel my registeration. If I continue, should I file the return and pay the tax. If I pay the Tax can I claim Refund for not having 20Lacs Turnover.
well in case your T.O. is less than 20 lacs you should preferably submit application for cancellation of registration in form GST REG 14.in case you continue your registration gst has to be paid from day1 also NO refund of such taxes shall be available.
thanks
what all are the books of account be maintained under Composition.
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