its fine sir, & iam also having taxable income of 5 lac (business income) & my aggregate income cross the threshold limit of 20 lac & as per sec 22(1) if aggreate income exceeds 20lac registration is compulsory, as per defination of aggregate income sec 2(6) say all taxable, exempted income
pankaj Rawat Sir, there is no concept of income in GST, GST is taking about the exempt supply to other person whether register or not. Residential income is not your supply. as well as interest income is not your outward supply. we are not taking about income tax and its taxability.
This is my personal opinion, if anybody have different views then views are welcome. thanks. Disclaimer: it is not Professional Advice.
The law says that “aggregate turnover” means the aggregate value of all taxable supplies, excluding the value of inward supplies on which tax is payable by a person on reverse charge basis, exempt supplies, exports of goods or services or both and inter-state supplies of persons having the same Permanent Account Number, to be computed on an all-India basis but excludes Central tax, State tax, Union territory tax, Integrated tax and cess.
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