I have a turnover of over Rs. 20 lakh from 01.04.2017 to 30.06.17, but no sales after the date gst comes into force. Do I need to get registration under GST? ..
A business whose aggregate turnover in a financial year exceeds Rs 20 lakhs has to mandatorily register under Goods and Services Tax. This limit is set at Rs 10 lakhs for North Eastern and hilly states flagged as special category states. Also, the definition of taxable turnover has been changed to aggregate turnover.
In your case no sales. Then gst is not required. But you have already crossed the threshold limit in 3 months in vat regime. I think atleast half of turnover May be there.
yes registration required in case supplies exceed 20 lac in a year and please note in case turnover is less than 20 lacs taxpayer may request cancellation of GST registration. Taxpayer can submit an application electronically in FORM GST REG-29 at the common portal.
No need to obtain registration under the GST regime, as from the appointed date i.e 01.07.2017, the aggregate turnover does not exceed Rs 20 lacs ( 10 lacs in case of special category states) as per section 22(1) of CGST act 2017
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