Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

ITC and OPT

02 November 2019

I am a beauty parlour dealer with a total income per year less than ₹20 lakhs.Di you pay GST?.Can claim ITC and collect any Output Tax?

Reply
Follow
Share

6 Replies

Pratik Surve (Assistant Professor ) (571 Points)
Replied 02 November 2019

As you said Your turnover Not exceed 20 lacs then gst registration not require mandatory but you can take it voluntary

Upgrade to CAclubindia Pro. Subscribe Now!

subhagan sreerangam (7054 Points)
Replied 02 November 2019

Have Registration Didbyou Pay GST?Can Claim ITC,and Collect OUTPUT?.

Rijo John (audit manager) (447 Points)
Replied 02 November 2019

If you have registration, you are liable for collect and pay GST. And also you can take benefit of ITC

Surjeet Negi (947 Points)
Replied 02 November 2019

As per the relevant provisions of GST, since you have voluntary obtained registration and further has a valid gstin, you have to raise tax invoice and pay gst on outward supply. further, ITC would be allowed on procurement for furtherance of business.