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MSME under gst

08 July 2020

what are the benefits for an MSME under gst. (If iam starting a micro manufacturing unit)
kindly help me about all gst implications related to MSME (micro)

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7 Replies

Shivraj Shintre (kolhapur) (175 Points)
Replied 08 July 2020

It is compulsory to update GST no in your msme reg upto 1 April 2021 otherwise your msme reg will get suspended

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Vijeesh Parapattil (105 Points)
Replied 08 July 2020

Is there any benefits from the govtvfor my micro startup??

Vijayprakash P (1313 Points)
Replied 08 July 2020

GST registered MSMEs can get 2% interest subvention from Govt. for incremental loans of Rs. 1 crore under MSME credit scheme.

Vijeesh Parapattil (105 Points)
Replied 08 July 2020

Is it necessary to take registration in gst for an MSME?

Shivraj Shintre (kolhapur) (175 Points)
Replied 08 July 2020

You have to registered under GST upto 1april 2021

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Renu Shama (Gst practitioner ) (34 Points)
Replied 09 July 2020

Yes it is mandatory to get register under gst if you are start up business you have a time till 31march 2021 after that it is mandatory to take registration under gst and you have to file ITR return as per income tax act 1961

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Vijeesh Parapattil (105 Points)
Replied 09 July 2020

1. Requirement of gst registration for my micro manufacturing unit is after crossing the limit( 20lakh) right?
2.After gst registration is there any gst excemptions for my msme(micro manufacturing unit, our production is coconut oil)