14 August 2019
I have a small business in rural area having registered under Gram panchayat and having trade licence.and turn over is less than 20 lac. whether i am required to take GST No ?. pls advice & guide
16 August 2019
You may not take registration under GST since toyr turnover does not exceed the threshold limits. However if your vendors are GST registered vendors and if wish to take ITC on your purchases, you may voluntarily take GST registration in or to take benefit of Inut tax you pay while buying goods which will reduce your purchase cost. But on other side, you compliance burden shall increase for GST return filing. So you shall have to do cost benefit analysis before taking decision of whether to obtain. GST registration. Feel free to contact on caparth89@gmail.com for any queries
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