A partnership firm was formed in the month of July 2017. It has not obtained GST registration till now.
The firm got its first contract of interior furnishing of Rs. 1.03 Crore.
The customer has issued a cheque of Rs. 10 lakh as advance on 29th July 2017. The same will be deposited by the firm by 16th August 2017.
Next cheque of Rs. 30 lakh will be issued on 18th August 2017 and will be deposited on the same day.
Now my doubt is, on which date the firm is liable for registration under GST?
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Query on Registration
Replies (6)
Dear Sir,
I am facing problem in GST practitioner registration. Validation Error.
How to remove it? PAN and Aadhar Name is Same.
kindly guide me.
Thanks
Abhinav Johari
I am facing problem in GST practitioner registration. Validation Error.
How to remove it? PAN and Aadhar Name is Same.
kindly guide me.
Thanks
Abhinav Johari
18th August....as per me
from which u will have to gst also on advance
from which u will have to gst also on advance
to pay gst**
That means can I make payments to unregistered dealers before 18th July without attracting reverse charge liability?
yes....you can...but it is not going to result in any tax savings to you.....as tax paid on reverse charge is allowed as credit...
Yes, I understand that thing. But in my case my profit element is going to govt as reverse charge and in subsequent months I don't have any output GST liability to adjust the excess credit in subsequent months. That is the reason I was avoiding reverse charge.
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