32nd meeting of gst council
This query is : Open
29 January 2019
i have gone through 32nd Gst Council meeting decision but there is someconfusion in my mind
1. if the expected turnover of a person not exceeding threshold limit exceeding 40 lacs 1st april, 2019 onwards but in the previous year 31.03.2019, sales exceeds threshold limit i.e. approx 25 lacs, then can an entity surrender its GST registration.
2. if the firm purchased from outside the state but did not interstate supply, then will the firm eligible to surrender its GST REGISTRATION
1. if the expected turnover of a person not exceeding threshold limit exceeding 40 lacs 1st april, 2019 onwards but in the previous year 31.03.2019, sales exceeds threshold limit i.e. approx 25 lacs, then can an entity surrender its GST registration.
2. if the firm purchased from outside the state but did not interstate supply, then will the firm eligible to surrender its GST REGISTRATION
29 January 2019
1. since it can not be given retrospective effect, in my opinion not eligible to surrender registration on the basis of turnover on 31.03.2019. since the threshold limit before 1st april remained 20 Lakhs only and even otherwise intention is to revise the threshold limit from new financial year only.
2. I donot think this kind of ground is eligible for surrender.
2. I donot think this kind of ground is eligible for surrender.
29 January 2019
THANKS YOU SIR FOR YOUR PROMPT REPLY.
DID YOU MEANS TO SAY IF THE FIRM PURCHASES FROM OUTSIDE ITS STATE, THE FIRM HAS TO RETAIN GST AND CANNOT SURRENDER ITS GST NO
DID YOU MEANS TO SAY IF THE FIRM PURCHASES FROM OUTSIDE ITS STATE, THE FIRM HAS TO RETAIN GST AND CANNOT SURRENDER ITS GST NO
29 January 2019
THE FIRM IS A COMPOSITION DEALER PRESENTLY, AND TILL DATE ITS SALES IS ABOUT 19 LACS AND HAS NOT ANY CUSTOMER OUTSIDE ITS STATE BARRIER
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Tds on building rent monthly
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
