Someone please help me understand one thing. It is said that there is no GST for traders whose turnover is less than 20 lakhs. What does this mean? That those traders won't collect GST? If so what if they go beyond 20 lakh at the year end? Who will pay the tax? And if someone who has been collecting tax from people and falls below 20 lakhs, where will the money or refund go??
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Gst tax
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If ur turnover is crossing 20 lakh on ur accounts then make yourself registered at that very moment. And when you get registered from that moment start collect gst.
what if turnover not crossing 20 lakhs, but collected tax?
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