Prawn sale commission
thotasrinivas (Accountant ) (305 Points)
10 July 2017
commission agents on sale of prawn/fish are required to register GST?
1 Replies
Karan Batra
(Creator: TheProTalks)
(2325 Points)
Replied 02 August 2017
GST registration is mandatory for-
- Any business whose turnover in a financial year exceeds Rs 20 lakhs (Rs 10 lakhs for North Eastern and hill states).
[Note: If your turnover is supply of only exempted goods/services which are exempt under GST, this clause does not apply.]
- Every person who is registered under an earlier law (i.e., Excise, VAT, Service Tax etc.) needs to register under GST, too.
- When a business which is registered has been transferred to someone/demerged, the transferee shall take registration with effect from the date of transfer.
- Anyone who drives inter-state supply of goods
- Casual taxable person (see below)
- Non-Resident taxable person (see below)
- Agents of a supplier
- Those paying tax under the reverse charge mechanism
- Input service distributor (see below)
- E-commerce operator or aggregator
- Person who supplies via e-commerce aggregator
- Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person
As for Exempted goods/services no, commission on sale of prawns is taxable and not Exempt.
Thus yes unless you are not covered in any of the above conditions you will be required to register under the GST Regime.
Recent Topics
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
- Rectification to decrease income in SCHEDULE OS
- Can Statutory Auditor of a subsidiary become concu
- Client Asking for the Revised Invoice
- Share office desk in bkc, near family court
- 80D claim for payment paid by parent
- TDS on purchase of Flat under subvention scheme be
- GST registration for medical shop in Karnataka
Related Threads
CAclubindia
