I am purchasing a machine from other state to start my new proprietorship business.
I have made a advance payment against machinery on 02 May 2019.
Seller ask my GST no. to send machine and raise invoice.
In this situation I need GST no. but GST registration poratl is asking date of commencement of business and date of liability. and I have not started my business yet.
Please advise what I should I fill in date of commencement.
Please also advise is it mandatory to register under GST to purchase a machine from other state from a GST registered seller.
Regards,
Jayesh
Dear Jayesh
It's better take Registration , to avail ITC on Machine , because as per Section 18 of CGST Act , you can avail ITC on goods in stock (Not capital) .
means can claim ITC on goods in stock the date you granted the registration but not for capital goods by filing ITC 01.
put current date of commencement & liability of business.
No it's not mandatory to take registeration Unless your Aggregate turnover is not exceeding 20 lacs
CAclubindia
