Gst threashold limit meaning
This query is : Open
09 June 2017
threashold limit provided is rs. 20 lac ? Does it mean that after crossing limit of 20 lac in year person is liable to pay tax and not before? n once this limit is crossed is it applicable in futher years also.. please clarify this.
thank you in advance.
thank you in advance.
09 June 2017
For the first year the person is liable to pay tax on crossing the limit of 20 lac. Once crossed from next year GST payable on entire sales.
Message likes :
1 times
09 June 2017
thank you.. can u please futher clarify me that for appicability of gst in current year whether need to check gst threshold limit of rs 20 lakh every year or once this limit crossed gst will be applicable every year irrespective of the turnover in previous year..
09 June 2017
Once this limit crossed gst will be applicable every year irrespective of the turnover in previous year..
Message likes :
1 times
09 June 2017
Every person who is registered is liable to pay tax. it is irrelevant whether registration was mandatory or voluntary..
Once you cross the limit of 20 Lakh in a year, it is mandatory to get registration.
Message likes :
1 times
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?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- RCM INVOICING FROM NOV-2024
- 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 ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
