Dear All,
If one has opted for volutary registration under GST then the exemption limit of Rs. 20.00 Lacs will apply or he will have to pay GST on every single bill????
Thanx in advance
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Gst liability
Replies (14)
Once registered, BEL do not apply....... GST applicable from the date of registration....
When anyone take gstin either voluntary or compulsory he is liable for gst liability... He will hv to pay gst on every single bill from the very first
Thanx sir for early reply than what is the purpose of limit of Rs. 20.00 Lacs as there was RCM applicability though now withdrawn. What is the benefit of transition from Service tax where there was limit of Rs. 10.00 Lacs for service tax liability????
But exempt Limit is 20 lacs only for unregistered.
That i understood but my query is then what is benefit of migration to GST from Service Tax where there was a limit of Rs. 10.00 Lacs on service tax liability??????
Yes only in service tax there is provision for not paying tax if ur turnover does not cross 10 lakh limits but in vat ur liability start with once u get tin no.... Gst is both... In gst no provision is there.... U might not hv registered if ur turnover doesn't cross the limit of 20 lakh... But u r eligible for itc also na... Then what is demerara in this
Person has not got any itc of service tax paid against vat earlier... Now itc availability...
| Originally posted by : CA Shruti kuchhal | ||
 |
That i understood but my query is then what is benefit of migration to GST from Service Tax where there was a limit of Rs. 10.00 Lacs on service tax liability?????? |  |
In ST above 10Lakhs will registeration Required. After registration or Valundary registration then no excemption in ST. The same in GST. Once registered then liability ll start from Rs. 1
In service tax if u hv service tax no and ur turnover doesn't cross 10 then u r not liable to pay tax... Small service provider
Thats exactly whats my point divakar ji. Then whats the benefit to small service providers by getting registraton under gst????
Ya this is only provision in service tax and also there in exicise registration is required for above 1.5 crore and now in gst limit is 20 lakhs... But benefits of itc is available in gst
Thanx Divajar ji for prompt response, i now get your point...................
In gst u got itc of both goods and services and gst removed cascading effects of taxes... And in future a much lower gst rate is there... Now also gst rate is lower compared to earlier vat plus service tax rate
Volutary registration agar h toh GST compulsary dena h
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