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
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.
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
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