GST payment related query

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article assistant
33 Points Posted on 14 September 2020
my turnover is upto July 38 lacks so I reg gst no and now my turnover is aug is 4 lacks total turnover is 42 lascks I have doubt to pay tax for to show 42 or 4 lacks
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On 14 September 2020 at 12:15 Report
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This discussion clarifies a query regarding GST payment for a business with a turnover exceeding the threshold. The user registered for GST in August after their turnover reached £38 lakhs by July, and then an additional £4 lakhs in August, totalling £42 lakhs. The advice provided is that GST is applicable from the effective date of registration, meaning tax is only payable on the £4 lakhs turnover from August onwards.

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137 Points Posted on 14 September 2020
In you case gst is applicable from the effective date of registration. you have to pay gst on 4 lakhs only
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On 14 September 2020 at 18:38
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CA
1258 Points Posted on 18 September 2020

GST payment is always applicable from the date of registration. Since the date of registration in this case is of August. So you are liable to pay tax from August

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On 18 September 2020 at 17:11

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