iam having residential income of 12 lac , FDR interest income is 4 lac, & Busness income is 5 lac, though the resisdential & FDR income are exempted under gst, but my aggregate turnover is 21 lac , (including taxable)
whether i hv get registered in gst ???
i suppose yes !!!
RAJA P M • 02 March 2018
No need...
Aashish Sachdeva • 02 March 2018
As per my personal opinion, there is turnover less than 20 lac. So need to register.
This is my personal opinion if anybody have different opinions then views are welcome. Thank You. Disclaimer:This is not Professional Advice.
Pankaj Rawat • 02 March 2018
but accoording section 22(1) the aggregate turnover exceeds 20 lac, registration is compulsory
Aggregate turnover defination as per section 2(6) includes all the supplies ,taxable, EXEMPTED, (exluding RCM)
Pankaj Rawat • 02 March 2018
sir Plz clarify.... As my aggreate turnover exceeds the threshold limit of 20lac
Menu
Earlier Ask , But not get statisfactory reply
Replies (29)
RAJA sir plz clarify
mr. pankaj you are self clear on it. As per sec 22(1) of cgst act if aggregate turnover exceed 20L/10L you have to register.
your agg. t/o 12+5+4 = 21 L hence reg. required.
I am deeming that the word used by you business income 5L is taxable turnover.
Yes u hv to take GSTIN... As aggregate turnover include all turnover whether taxable or exempted or nil rated... If only providing exempted services or goods then no need to register... But in ur case have to take gst... Why u r not satisfactory... And bdw its advisable to take gst no as ur business is growing in next year
yes sir business income is taxable, that's what I am saying that registration is compulsory,.... yes had it been any
Exempted income instead of business Taxable income (5lac), registration is not compulsory, even if cross the threshold limit
Isn't it Sir , plz correct me if I am wrong
Exempted income instead of business Taxable income (5lac), registration is not compulsory, even if cross the threshold limit
Isn't it Sir , plz correct me if I am wrong
Pankaj Sir, plz clarify
yes u are correct. i am simply saying that do not use word business income use turnover.
Divakar sir plz suggest
Thanks Pankaj sir
Plz refer section 23... If u r providing wholly and exclusively in exempted supply then no need to take gst no
The law says that “aggregate turnover” means the aggregate value of all taxable supplies, excluding the value of inward supplies on which tax is payable by a person on reverse charge basis, exempt supplies, exports of goods or services or both and inter-state supplies of persons having the same Permanent Account Number, to be computed on an all-India basis but excludes Central tax, State tax, Union territory tax, Integrated tax and cess........
no need to register
@ Aasish sir... Plz refer section 2(6) once again carefully what it is saying then come here and then comment... Nothing else said
Ashish ji, that what section 2(6) Cgst states,
if aggregate turnover exceeds 20 lac as per section 22(1) registration is required.
yes if it is only exempted turnover & exceeds 20 lac then registration is not needed
if aggregate turnover exceeds 20 lac as per section 22(1) registration is required.
yes if it is only exempted turnover & exceeds 20 lac then registration is not needed
@ Divakar sir,. right ,section 23 Cgst clarify on all the above ask & replies
Recent Topic
- ITR form query
- Credit against paud RCM on rent
- Dividend difference in 26AS, AIS, TIS
- 194JB INCOME
- Filing ITR3 where income under section 44AD with L
- What is superannuation fund
- GST Refund of input services under Inverted Duty S
- Dividend Reporting
- Real operational bottlenecks after firms use Tally
- Purchase return under gst
Related Topics
CAclubindia
