18 July 2022
If you are registered dealer under GST, the Rs. 20 or 40 Lakhs limit is immaterial. If You are regular dealer (not Composite dealer), you have to charge GST, pay it to treasury, and claim ITC against it. You also have to comply GST return filing.
18 July 2022
i have a consultancy company and the gst is service related .. and not a composite dealer ... my turnover is less than 20 L and basically i dont need to file gst .. but i have a gst registration as without that i was not getting an account .. i claim itc for products bought for company use ... usually i file nil filings also .. dunno if i am getting everything right ..
19 July 2022
SINCE MY COMPANY REVENUE WAS LESS THEN RS 20 LAKHS I WAS FILING NIL .. THE GST WE USED TO CHARGE WE USED TO PROVIDE AS CASHBAK TO OUR CUSTOMERS .. ( A BIT OF MARKETING BENEFIT ) .. AND CLAIM ITC ON PRODUCTS BOUGHT FOR COMPANY USE .. HOPE THAT IS OK ??
19 July 2022
The process is wrong. You were charging GST from customers, which you were liable to deposit with governmental treasury. But You were filing nil return, while you were claiming ITC on your purchase. (difficult to understand how?) You need to rectify the mistake at earliest, otherwise action will be initiated against you as per law.
CAclubindia
