GST for Computer scrap

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Become CA
76 Points Posted on 28 August 2020
Computer scrape sale business T/O is 40 lacs then what can I do regarding GST reg???
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On 28 August 2020 at 00:44 Report
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Quick Summary
If your computer scrap sales turnover is exactly £40 lakhs, you do not need GST registration as the threshold is for exceeding this amount. However, if you make intra-state sales and your turnover is below £1.5 crore, you can opt for the composition scheme at a 1% GST rate, even if you purchase from inter-state.

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T
405 Points Posted on 28 August 2020
If exact 40 lakhs then no need becoz provision says exceeds so if exact 40 lakhs then no need if exceeds 40 lakhs even rupee then registration required
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On 28 August 2020 at 02:02
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Tax and Business Consultant
11616 Points Posted on 28 August 2020
You are required to take GST Registration..
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On 28 August 2020 at 08:23
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Become CA
76 Points Posted on 28 August 2020
If purchases made from inter state and sale made in intra state then Can I opt composition scheme for above business?
If Yes then what is Rate of Gst?
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On 28 August 2020 at 08:54
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29 Points Posted on 28 August 2020
No, you can not opt composition scheme, when you want do inter state sales,,
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On 28 August 2020 at 09:05
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Become CA
76 Points Posted on 28 August 2020
No no sale is INTRA state only purchases from inter state
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On 28 August 2020 at 09:13
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Tax and Business Consultant
11616 Points Posted on 28 August 2020
Yes, you can opt for composition scheme..if have only intra state sale ( inter State Purchase allowed) and T/O less than 1.5 crore (75 lakh for North-eastern State)

If you are only Purchasing and selling scrap as like only Trading..than you can opt as trader @ 1% Composition rate.
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On 28 August 2020 at 09:20
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Become CA
76 Points Posted on 28 August 2020
Thanks
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On 28 August 2020 at 09:47
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Tax and Business Consultant
11616 Points Posted on 30 August 2020
Welcome.........
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On 30 August 2020 at 00:29

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