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GST turnover doubt

Pramod Thakur (accounts executive) (28 Points)

26 January 2019

I have GST registration. since GST turnover exemption limit is increased to Rs. 40 Lacs and my annual turnover is less than this new limit. can I cancel my existing GST registration.

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7 Replies

CA CS Chirag (Practicing CA) (834 Points)
Replied 26 January 2019

the limit of 40 Lacs will be applicable from 1st april,2019.

Pankaj Rawat (GST Practitioner) (55062 Points)
Replied 26 January 2019

No... currently the thresholds limit in term of Section 22 CGST Act is 20 Lac only . The 40lac is recommendation by council & will be applicable only when notify by council by issuing Notification

Vinod Babu (24196 Points)
Replied 27 January 2019

The new limit 40 lakhs is not still notified. Currently you can't cancel the gst registration.

pritesh (CA Final student) (7101 Points)
Replied 27 January 2019

yes.. but it is applicable from 01.04.2019

Pankaj Rawat (GST Practitioner) (55062 Points)
Replied 27 January 2019

pritesh ji
can you quote the Notification or any order that its being applicable from 1/04/2019

Dear, its only an recommendation that it will be get aplicable from 1st of april & the provision of Act is applied /Run on basis of recommendations

pritesh (CA Final student) (7101 Points)
Replied 27 January 2019

Yes pankaj ji i agreed with your answer

i just want to sae that new limit will be applicable from April onwards.. notification may be issued shortly.Till that registration cannot be surender.