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SURRENDRING GST REGISTRATION Regarding
I want your guidance for surrendering the GST Registration. Our charitable trust lets out its properties for commercials and receives rent more than Rs.15 lakhs annually.It got registered under GST Act when GST Act comes into force (i.e.01-07-2017) as the then threshold limit s Rs.10/ lakh .Now from 1st April 2019 threshold limit has been increased to Rs.40/ Lakhs for GST registration.Please let me know,shall our trust surrender the GST Registration based on reasons of threshold limit increase and continuing the letting.So please advise me it will be a great help.
Replies (3)
Quick Summary
That 40 lakhs is not applicable to you as it was applicable to supply of goods exclusively
You are doing supply of services
You are doing supply of services
The threshold limit for services was always 20 lakhs since beginning till date.
If your annual turnover is less than 20 lakhs you can surrender your registration
If your annual turnover is less than 20 lakhs you can surrender your registration
For supply of services threshold limit is 20 lakhs rupees but if it less than 20 lakhs rupees then you can surender gst registration
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