If an assessee is not registered under any current indirect tax now as he is below the threshold limit, is he required to get Provisional ID under GST ??
If an assessee is not registered under any current indirect tax now as he is below the threshold limit, is he required to get Provisional ID under GST ??
20 lacs is threshold limit for GST, if any assessee turnover is morethan 20 lacs he has to registered with GST.
Provisional id & password are releted for existing assesse not for new tax payers.
if t/o is within threshold limit then no need to do GST Registration.
Where turnover not exceeded Rs. 20 Lac per annum, No registration required. Where, turnover exceeding the limit, person liable to get registered under GST. New registration under GST not started yet.
DEAR SIR
IF I AM REGISTERED IN COMPOSITION SCHEME UNDER GST .SO CAN I REGISTER NOW UNDER THSES SCHEME.
I AM NEW DEALER AND MY TURNOVER LIMIT IS BELOW 20 LAKH IN A YEAR.
KINDLY INSTRUCT ME WHAT TO DO ?
Composition scheme may be adopted by the dealer where his annual turnover not exceeded Rs. 50 Lacs per annum.
I think if the Turnover is not likely to cross Rs. 20 lakhs, then no registration is required.
Not even Compositiion Scheme.
how to migration of gst
if i am register in composition scheme then any thing problem.
aur main abhi kara sakta hu registration .
What constitute "turnover" in the case of a Banking Company?
1) NO. PROVISIONAL ID NOT REQUIRED.
2) THRESHHOLD LIMIT IS RS. 20LKH. APERSON WHOSE AGREGATE TURNOVER IN A FINANCIAL YEAR EXCEEDS RS. 20 LAKHS FOR SUPPLY OF GOODS OR SERVICES IS LIABLE TO OBTAIN REGISTRATION.
3) IN CASE OF SPECIAL CATEGAORY STATE, THE SAID TURNOVER LIMIT IS RS. 10 LAKH.
4) HOWEVER FOLLOWING PERSONS WILL OBTAIN GST REGISTRATION IRRESPECTIVE OF THRESHHOLD LIMIT.
A) INTER STATE PURCHASE / SALE
B) WHO IS REQUIRED TO DEDUCT TDS UNDER SEC 46 OR COLLECT TCS UNDER SECTION 56
C) ELECTRONIC COMMERCE OPERATOR
D) INPUT SERVICE DISTRIBUTOR.
IF GST IS UNDER REVERSE CHARGE, MOST OF THE SUPPLIERS WILL HAVE TO TAKE GST REGISTRATION EVEN THOUGH THEY ARE BELOW THE THRESHOLD LIMIT OF RS. 20 / 10 LAKHS.
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