If we have registered as voluntary taxpayer under GST ..bt after some months if we cross turnover of 40 lacs .Then in that case can we continue our business under voluntary reg ..or any other procedure to follow after crossing turnover of Rs.40 lacs ??
No room for worries left relating to status - voluntary Reg. / Mandatory Reg. on crossing the Turnover 40 Lakhs for the ones who are already Registered as Registration is Sufficient in itself.
As per the Provision of Section 22 of the CGST Act 2017, a person's whose Aggregate Turnover exceeds Rs. 20 lakhs / Rs. 40 lakhs needs to compulsorily register under GST. However , a person can Register under GST on VOLUNTARY BASIS by virtue of Section 25(3) of the CGST Act 2017 irrespective of the turnover limit.
Hence, no further procedure is required now since you are already registered under GST.
CAclubindia
