Narendra Reddy (Asst. Manager Accounts) (52 Points)
02 January 2018Dear Sir,
I Have a dought on GST Registration, I am started Business in the month of Oct'17, now i would like to register under GST act as a Composition dealer. Is there any penality for delay registration or not. Any one can help me.
P Narendra Reddy.
Srishti Agrawal
(Practice, Teacher)
(172 Points)
Replied 03 January 2018
The need to register arises when your turnover exceeds 20 lakhs a year (10 lakh in some states), therefore if you have less of turnover you don't need to register or can register voluntariliy.
Also, there are some cases where you need to register even when turnover is less than 20 lakh (when you have inter-state supply of goods).
CAclubindia
