Gst registration - necessary or not.

My Client :

Have 1 Business and Do Share Trading too.

Will the Share Trading Turnover be also taken for Counting the Limit of Rs.20 Lakhs for Getting GST Registration.?

 

If Yes, then Will The Share Trading Details (Purchase and Sales) will also be given in Monthly Returns. ?

 

Note: Shares are Securities and Not Goods hence, GST Not Applicable.

But Income Tax Act takes Share Trading Turnover for 44AB Purpose.

REPLY ASAP.

 

 

Replies (6)
Share trading shall not be included in computing aggregate turnover. Kindly refer the definition of Aggregate Turnover as per Section 2 (6) of the CGST Act.

Kindly Explain.

As per Section 2 (6) the aggregate turnover includes value of all

Taxable Supplies (refer below),
Exempt Supplies,
Exports of Goods, Services or both &
Interstate Supplies of person having same PAN.

As per Section 2 (108)

Taxable supply means a supply of Goods or Services or both which are leviable to tax under this act.

In share trading the entire turnover is leviable to GST.

Hence it is not a taxable supply.

It does not fit in any other category of section 2 (6) mentioned above.

Hence it shall not be included in computing turnover under GST.
In share trading entire turnover is not liable to GST.

What if On Voluntary Basis, My Client gets Registration and then files Monthly Return.

 

In those returns whether he has to give the details of such SHARE TRADING too.

As there can be seen in GSTR3B : NON GST Supplies are also asked to enter.

??

 

And What if a Person have a Shop of GST Taxable Goods Turnover 5 Lakhs & a Petrol Pump having Turnover 2 Crores. In that Case will he have to obtain registration? How is Petrol Different from Shares, both are Non Taxable or Exempt from GST.

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