I'm registered under normal scheme of GST, so what is the threshold limit to pay amount of tax. Can I avail the benefit of 20 lakhs limit or shall I pay the taxes on my first invoice.
Please suggest.
5 Replies
CA Akhilesh Kumar Kandpal
(Proprietor A K Kandpal & Associates)
(1442 Points)
Replied 06 August 2017
pay from 1st invoice....right now there is no exemption like which were available in service tax....once you got registered you have to pay tax from 1st invoice.
Vinay Garg
(Student cum businessman cum professional)
(859 Points)
Replied 06 August 2017
You have to pay tax from your first invoice
RAMESH D MODI
(Proprietor)
(4869 Points)
Replied 06 August 2017
yes registered person can not get 20 L basic exemption
Sudhanshu Panwar
(Student)
(38 Points)
Replied 06 August 2017
thank you all, then what is the benefit of getting registration under GST...?
Vinay Garg
(Student cum businessman cum professional)
(859 Points)
Replied 06 August 2017
You can pass on credit.
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