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payment of GST
one firm having turnover less than Rs. 20 lakhs have taken registration of GST. Are they exempted from collection of GST and consequently payment of GST. If yes, what is the legal provisions
Replies (5)
no, once you are registered. you have to charge gst irrespective of aggregate turnover.
also have to collect and pay it to the govt
moreover you have to file gst return on compulsory basis even if there is no sale or purchase
also have to collect and pay it to the govt
moreover you have to file gst return on compulsory basis even if there is no sale or purchase
Yes, agreed with Mr ankit gupta.
If you have gst registration then what may ever be your turnover, you should collect tax on taxable outward supplies. After setting of OPT -IPT, GST should be liable to paid to the department by filing GSTR 3B returns monthly.
If you have gst registration then what may ever be your turnover, you should collect tax on taxable outward supplies. After setting of OPT -IPT, GST should be liable to paid to the department by filing GSTR 3B returns monthly.
agreed with both views.
Thanks Mr murali. 👍
thanks
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