Hi sir/madam
I have a turnover of rs 38lakhs on sale of electcal items. The GST registration limit is 40 lakhs.
I have not maintained any books only Bank transactions is a proof.
I have filed my ITR for rs 38lakhs.
Is there any chance of getting notice from GST department for registration.
Menu
Threshold limit of 40l
Replies (1)
You have to maintain books of accounts as per section 44AA of the income tax Act , because as per section 44 AA of the income tax Act one has to maintain books of accounts if your turnover crosses 25 lacs in Case of individual in other Cases it's 10 Lacs In the previous year, So my opinion you maintain the books of accounts , get audit done of the books of accounts ( even though Audit is not required ) and find out Correct turnover for GST registration which may be less then 38 lacs or more than 38 lacs or 38 Lacs . If you are not maintaining books of accounts which is required as per income tax Act and neither the audit has been done therefore. your Turnover may not be correct ,
Take others opinion as well.
Recent Topics :
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
- Demand from TRACES
- FY 2025-26 ITC CLAIM DUE DATE
- 96084000 and 48202000 HSN code ka Tax Rate kya hai
- Clarifications for intra day transactions
- CA FINAL FR FINANCIAL INSTRUMENTS (Ind AS 109) Dou
- 70:30 GST rule for solar EPC: partial scope (struc
- TDS on Redevelopers hardship allowance received no
Related Topics :
CAclubindia
