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I have gst registration but the turnover belew 20 lac. am I liable to pay tax?
I have gst registration but the turnover belew 20 lac. am I liable to pay tax?
Replies (7)
Yes , once you have obtained the GST registration you are liable pay Tax .
Yes You are liable to pay GST
Yes, you have to charge GST and pay it to government, at the same time you can claim its ITC.
Once you registered you are liable to pay
First you may be file the returns n pay the dues. after you can decide whether continue the registration or cancel the registration due to less than the threshold limit of turnover
20 lakh turnover limit is to take the registration, once you obtain the registration you need to pay the GST even if your turnover is less than 20 lakh in a FY, its not like a service tax.
If your turnover will not 20 lakh in FY you can apply for cancellation of GST registration, once your registration is cancelled then you are not required to pay GST.
If you have registered under GST then you need to pay gst irrespective of your turnover figure..
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