I wanted to know if I can register my 7 years old Software exports Pvt. Ltd. company under GST now? My CA is saying that its necessary that you close down current company and form a new one to get GST registration done now. Since we are 100% software exports based company we know that we can get exemption on GST. But he is advising to do so to avoid any issues? I am looking for advice regarding this?
Under GST Law export is zero rated Inter - state supply as per section 7(5) (a) of the IGST act 2017 , and as per section 24(1) of the CGST act 2017 registration is compulsory for inter-sate supply and your turn over exceeds 20 Lac's
You can export the software service by paying IGST and then claim refund or through LUT/BOND subject to conditions ,
please confirm with others also.
Irrespective of the turnover registration is compulsory for Inter-state supply please confirm .
Sorry looks like question is unclear. I know that i have to register for GST. Question is can I register now? Will it have any implications? Or should I open a new company and register GST as advised by my CA?
YOGESH KAPOOR AND ASSOCIATES
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V.K. Ranjan & Co(Chartered Accountants)
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