please read my company explanation and give me your suggestions
Thank you in advance
" Dear Sir,
This is in furtherence to our earlier guidelines where GST registration was called for by all the registered Authorised Persons of the stock or commodity exchanges and based on the recent circular received from GST Council in Sep'2018 (Copy Attached herewith) which can be transpired as below:
Authorised Person (AP) whether Trading Terminal (CTCL) availed or not.
1. Whose income exceeds the threshold limit of Rs. 20 Lakhs, In this case, AP must get registered under GST & raise the invoice for the commission payout (inclusive of GST).
2. Whose income not crossing the threshold limit of Rs. 20 Lakhs, In this case, AP is not required to get registered under GST - however he shall submit a declaration of income not exceeding 20 lacs P.A.
Since there are AP's who are already registered under GST may avail 2 options or may consult your learned advisor (a) to file a NIL return or (b) May De-register the same in consultation with your learned tax advisor.
We regret for any inconvenience that may have caused in the course of various circulars relating to it's interpretations that have been released by GST council in the recent past and clarifications sought at regular intervals"
CAclubindia
