Assess trading of goods sales turnover amount rs : 42 lacs in f.y.2019-2020 sec 44ad provision I.t. return filed.but dealer not gst registered.
question:
1.dealer gst registered compulsory
2.if compulsory at present new gst composite or regular scheme registered applied new gst number received after previous sale turnover Rs:42 lacs 19-20 and April to August,2020 sales turnover first return filed time show in gst returns compulsory or not.
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Gst registered required
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Quick Summary
GST registration is compulsory if sales above 40 lakhs in a financial year.
If your aggregate turnover in 19-20 is exceeding Rs.40 lakhs then you may get notice from the department to pay tax along with interest on Rs.2 lakhs for F.Y 2019-20 and if your are still unregistered than also liable to pay tax for sale done up to date i.e in F.Y 2020-21 along with interest.
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