Hello everyone,
i was a shareholder in pvt ltd in which, we were in a business of buying and selling of second hand vehicle. our main source of procurement was from bank(loan default vehicle auctioned by bank) and direct purchase from sellers.
We are winding up our business as my partners family is moving abroad.
now plz suggest if our sales(reciept was roughly 3 crores) and margin(net profit was around 17 lakh approx).
1) do i need gst number for partnership ( other partner being my wife)
2) what gst compliance i need?
3) if opt for pvt ltd or llp is it compulsory to get gst?
thank you in advance
Menu
Is gst complusary
Replies (3)
1)Yes, registration is required because of turnover
2) you have to file all returns.
3) For LLP , PVT LTD co , registration is required because of turnover.
For second hand Vechile you have to pay GST on margin ( Sale-purchase) .
2) you have to file all returns.
3) For LLP , PVT LTD co , registration is required because of turnover.
For second hand Vechile you have to pay GST on margin ( Sale-purchase) .
What GST rate on second vehicle sales on margin amount. please tell me.
Different second hand Vechiles having different rates, so please refer notification 8/2018 CT ( rate) dated 25/1/2018.
Recent Topic
- ITR-2 : cash income that does not fall under any h
- Debit note issued to supplier
- Ca pratik takkar imp list
- TDS EXECESS AMOUNT ADJUSTMENT
- What's the ONE thing about GSTR-2B / IMS reconcili
- Is GST Registration Mandatory for Freelancers in I
- ITR TO FILE
- Shift of Place of Business from one state to anoth
- Form 10E u/s. 89(1). Need clarification because Ex
- Long Term Capital Loss - Tata Capital unlisted sha
Related Topics
CAclubindia
