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GST registration threshold limit increase

442 views 5 replies

piyush

account assistant

48 Points Posted on 16 March 2024

Dear Team Pls advice that my threshold limit has increased in 3Qtr of fy 23-24 and i want to apply registration in composition scheme
can I apply from Jan onward and what treatment will be for turnover before Jan 24. kindly suggest the process and what liability and penalty will be there.

Replies (5)

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 16 March 2024

No liability, No penalty...
Take registration and run Your business under GST...

sabyasachi mukherjee

Profession Business

28207 Points Posted on 17 March 2024

Gst registration limit crossing threshold

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 17 March 2024

Can You elaborate

CS Advocate Abhishek Goyal

M Com FCS LLB M-AIMA

14046 Points Posted on 18 March 2024

As per section 10(1) turnover should not exceed prescribed turnover limit of Rs 1.5 crore for composition in the preceding year. and you are not dealing in specified business for which composition scheme is not available.

Check these conditions before you apply.