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Gst on contractor 25L

22 December 2021

i am a builder. i hv received contract receipt 25L till 0ct 2021.I hv taken gst reg. on nov 2021.in nov extra 20L received as contract receiept.
in nov month gst return what is the amount i should show as contract revenew??
pls reply
thanks in advance

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7 Replies

prem kumar (Manager-Audit) (80 Points)
Replied 22 December 2021

45L, from 01 April 2021 to Nov 21, need to show full contract receipt, and same as should be Pay for GST

1 Like

NICSON JOHN (513 Points)
Replied 22 December 2021

But someone said that the amount in excess of 20L(limit of gst reg)only need to show??pls reply

prasad Nilugal ( GST Practitioner & Accounts ) (14221 Points)
Replied 22 December 2021

You liable for registration when you received first 25 Lac in OCTOBER 21 .

1 Like

NICSON JOHN (513 Points)
Replied 22 December 2021

So the amount recrived after oct only need to show ??pls reply

prasad Nilugal ( GST Practitioner & Accounts ) (14221 Points)
Replied 22 December 2021

It's better to consider 25 Lac also , In fact it is required .

prem kumar (Manager-Audit) (80 Points)
Replied 22 December 2021

No limit for GST. once you registered, you have to pay GST, whatever amount received by business income. need not to apply for GST registration, below 20L receipts in one financial year. that's all.