24 September 2016
Yesterday Finance Minister announced that Threshhold Limit will be Rs. 20 Lakhs. My query is that if a Mfg. unit whose Sales in a year Rs. 10 Lakhs and if his Unit is not Regd. in GST, how he will Sell his Goods to Supplier (Regd. Dealer) Becouse there will be no ITC available to Supplier and Supplier will not Purchased goods from Un Regd. Dealer due to non Availability of ITC. Now I wanted to Know that if a Mfg. unit with sale below Rs. 20 Lakhs should be Regd. under GST for availability of ITC or not ?
24 September 2016
In case of Mfg unit sales of 10 lacs no payment of GST so no ITC for buyer. Your argument of Regd dealer not buy the goods from small manufacturer is not right. They will buy where ever the price is competitive. No need of registration for Mfg. unit sale below Rs. 20 lacs, no need of ITC as GST not paid.
CAclubindia
