REGISTRATION ON CROSSING THRESHOLD LIMIT

CA. ANKIT PANDYA

CA

682 Points Posted on 22 June 2022

Try splitting invoice if possible.

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 22 June 2022

You have to take registration immediately and required to pay GST on 8lakh also

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 23 June 2022

GST will be applicable on 6lacs only and not on 8lacs

NINAD TARALEKAR

111 Points Posted on 23 June 2022

@ Eswar Reddy S ..... But hows that possible sir if there is single invoice of Rs.8 Lakh.

CA Puja Sharma

Chartered Accountant

5010 Points Posted on 23 June 2022

In my opinion, you have to pay GST on the entire invoice amount of Rs. 8 Lacs.

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 23 June 2022

@ Ninad Taralekar,

Use "Tax Invoice cum Bill of Supply" instrument

And Don't charge GST on two lacs by giving descripttion about the 2lacs and charge GST on 6lacs only

NINAD TARALEKAR

111 Points Posted on 23 June 2022

@ Eswar Reddy S .... Ok Sir. Thank you. 👍

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 23 June 2022

👍🏻👍🏻

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 23 June 2022

It's completely wrong you have to charged on Full 8 lakhs.

When you take new registration you have to pay from single penny, no exemption available for 20 lakhs.

CA Puja Sharma

Chartered Accountant

5010 Points Posted on 24 June 2022

Yes I will agree with @ CA Rashmi Gandhi, from the effective date of registration you have to pay GST on every outward supply. No such exemption will be available even if the exempted limit of Rs. 20 Lacs was completely used or not.

Suppose you apply for GST registartion when your turnover was Rs. 5 Lacs only, you have to pay GST on every outward supply from the date of registration.