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gst

percy (B.Com) (370 Points)

05 August 2016

my turnover is around 35 lakhs...will I need to pay gst.....

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9 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160442 Points)
Replied 05 August 2016

Yes, whenever applicable, for TO over 10 Lakhs . Let exemption list be declare.

percy (B.Com) (370 Points)
Replied 05 August 2016

thanks boss fr replying..i m into photo copy exerox busdiness....n paying service tax.....hope I will be beniffitted some way....

percy (B.Com) (370 Points)
Replied 05 August 2016

sir...I have been paying service tax as per mininimum turnover....we absorb service tax as we can collect it separately in this unorganised sector...
we buy paper which is with vat tax....we can't adjust it as we don't have vat num...
bt now with GST my paper bills will also show gst.....will I benifit by adjust thos amt against what I will pay as gst......please see gude....I hv been losing to much fr my profit......

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160442 Points)
Replied 05 August 2016

Let me tell you, for pure service providers, it will be costlier.

But you are charging it to your customers, isn't it?

You will be benefited in terms of input tax credit. and of course, by simpler administration.

percy (B.Com) (370 Points)
Replied 05 August 2016

yes..actually we pay service tax at applicable rate

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160442 Points)
Replied 05 August 2016

So, you will be getting credits of input GST, what you may be loosing now by VAT

percy (B.Com) (370 Points)
Replied 05 August 2016

thanks soooo much fr yr replies.....cleared some of my doubts...n as have been losing frm my profit as we can't show n collect it as separate ser tax due to competition..so we pay it on total turn over n absorb...
ourain input is paper which shows vat.. which will turn to gst hopefully n I will benifit....thanks so much