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Turnover under 20 lacs

Anoop Verma (37 Points)

03 July 2017

i want know i am registered in vat but my turnover below 20 lacs
i hav to fill return or not ?

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14 Replies

Kunnu (Owner at Dewlance.com Hosting) (105 Points)
Replied 03 July 2017

File return even If you have income of less than 3 lakh, It was said by my CA.

Anoop Verma (37 Points)
Replied 03 July 2017

gst return not income tax return?

Kunnu (Owner at Dewlance.com Hosting) (105 Points)
Replied 03 July 2017

Originally posted by : Anoop Verma
	gst return not income tax return?

Oh, So sorry.

Actually GST is new and very few people have a full knowledge of it but I hope someone can give you a exact reply specially response from Charted Accountant.

Sarthak Mittal (TAX ADVOCATE) (90 Points)
Replied 03 July 2017

No need to register under gst if your turnover is less than 20 lakh.

Naveen kumar m (Student CA IPC / IPCC) (23 Points)
Replied 03 July 2017

As per sec 22(2) of GST Act,Every person who, on the day immediately preceding the appointed day, is registered or holds a licence under an existing law, shall be liable to be registered under this Act with effect from the appointed day.

Sarthak Mittal (TAX ADVOCATE) (90 Points)
Replied 03 July 2017

But ni need of filing return

Kunal Pansari (Accountant) (1037 Points)
Replied 04 July 2017

As per rules, if your turnover is below 20 Lakhs, you need not register in GST and hence, no return filing is required.

Avesh Saiyed (CA Student ) (59 Points)
Replied 04 July 2017

registration applicable for who have less than 20 lakhs turnover but if you register under GST, its helpful in long run.

Charul Gupta (Service) (27 Points)
Replied 04 July 2017

Your kind attention is drawn to the relevant provisions in regard to registration under GST Act which states as under:

“Every supplier shall be liable to be registered under this Act in the State or Union territory, other than special category states, from where he makes a taxable supply of goods or services or both, if his aggregate turnover in a financial year exceeds twenty lakh rupees.”

In view of the above you should re-examine once again since you may not be required to charge Service Tax since you are not liable for registration.

P C Agrawal (Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad) (8229 Points)
Replied 04 July 2017

Pl refer brochure on registration for clarification:

https://www.cbec.gov.in/resources//htdocs-cbec/gst/regn-GST-onlineversion-07june2017.pdf