Originally posted by : Ajay sharma |
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I have Co-business:-1. one of them is textile business having turnover of Rs. 12 lakh, and2. second business is of job work having turnover of Rs. 14 lakhmy question is that aggregate turnover is of Rs. is 26 lakh (12 lakh + 14 lakh) of both businesses. (i.e. more than 20 lakh)whether it is mandatory for me to get registration under GST Regime or not.And both businesses is with in Delhi. |
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If you want to have both business under same PAN cards, both turnover will be aggregated and registration will become mandatory for you. Moreover, you will not be able to opt for composition scheme since job work is a service which is ineligible for composition scheme.
My suggestion: Use your own PAN card for Job Work. Use your wife/mother/father's PAN for textile business. Use separate bills. File separate income tax returns for proof. In this way, both businesses will be below 20 lakh and no registration will be required under GST. Even if textile business crosses 20 lakh limit, you can opt for composition scheme for it.