Income Tax & GST Related

This discussion concerns a yarn spinning job worker whose gross receipts for AY 2020-21 were over £34 lakhs, with a net profit of £4.5 lakhs. Despite submitting income tax returns for two years, they are not registered for GST and are unsure if registration is compulsory, especially as they plan to close the business soon. Experts advise that GST registration was likely required and suggest filing income tax returns properly while being prepared for potential future GST notices.