kcagarwal
(chartered accountant)
(103 Points)
Replied 21 May 2017
I agree with the with the view of Mr.Mulley, In G S T, every person shall be interested to be registered dealer, because in G S T, unregistered person will get costly items, because he wiil not be entitled for inputcredi, and one day will come, all person shall be registered person.
rohit
(none)
(186 Points)
Replied 22 May 2017
| Originally posted by : kcagarwal | ||
 |
I agree with the with the view of Mr.Mulley, In G S T, every person shall be interested to be registered dealer, because in G S T, unregistered person will get costly items, because he wiil not be entitled for inputcredi, and one day will come, all person shall be registered person. |  |
I don't think "every one" will be interested to get registered under GST, as he/she will be required to file monthly returns and maintain books and do other compliance.
Ashish Jain
(Chartered)
(37 Points)
Replied 22 May 2017
Yes there will be compliance cost. But in order to claim instant credit person might prefer to buy from registered person rather than unregistered person. For example, Think of a builder who pay charges to sub contractors or workers and most of them are unregistered as of now. The builder will be required to pay gst on reverse charge basis which may amount to lakhs of rupees, and credit of tax will be available in the next month so blocking the flow for one month.
richa more
(manager)
(66 Points)
Replied 22 May 2017
Ashish Jain
(Chartered)
(37 Points)
Replied 22 May 2017
@ Richa.. Yes normal dealers will be eligible for credits, if input tax credit is allowable, but composite dealer won't be eligible to take credit.
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