11 June 2018
Mr. A is a proprietor.He has two business. 1. Business X (Trading) - Purchase & Sale of Consumer Goods - Registered with GST,Turnover 1.5 crore 2. Business Y (Trading) - Purchase & Sale of Printed Books - Exempted in GST - Not Registered with GST-Turnover 1.5 crore.
My Query is: 1.Whether he has to take GST Registration for Business Y separately ? 2.If it is not required to take GST Registration separately,then where he will show the turnover of Business Y. 3.While filing GSTR 3B for Business X, should he disclose the turnover of Business Y as exempted sales there?
Kindly discuss the matter from Tax Audit and GST Audit point of view .
12 June 2018
DAER RITESH JI, FIRST YOU HAVE TO KNOW THAT BOTH BUSINESSES REQUIRE GST REGISTRATION. BUT IT IS NOT REQUIRE THAT YOU HAVE TO TAKE GST REGISTRATION SEPARATELY. YOU CAN RUN BOTH BUSINESSES ON ONE REGISTRATION. YOU HAVE TO DO ADD ALL COMMODITIES IN REGISTRATION. WHILE GSTR-3B FOR BUSINESS-X YOU CAN SHOW AMOUNT OF BUSINESS-Y. IF YOU SALE PRINTED BOOK USING YOUR GSTIN. IF YOU HAVE ANOTHER INVOICE BOOK FOR BUSINESS-Y. DO NOT INCLUDE BUSINESS-X WITH Y.
13 June 2018
Sir, Thank u very much for your valuable guidance. Business Y has another set of Invoice book,Where to disclose the sales? In GSTR 3B ,should we disclose the sales of Books under exempted sales along with the sales of Y.? If we do not show the sales of books what will be the consequence?
CAclubindia
