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Regarding New Registration

Bharat Kumar (I want become successful chartered accountant) (40 Points)

30 May 2017

Hi sir my brother wanted to enroll for GST registration, he is the owner of Retail medical shop. His yearly turnover is below above ₹20 lakhs and below ₹50 lakhs. Can he register as composition dealer or not.

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7 Replies

Studentsca (CA Practice ) (3577 Points)
Replied 30 May 2017

He may register as a composition dealer if he is satisfying other conditions as mentioned in Section 10 of the CGST Act.

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Prity Agarwal (CHARTERED ACCOUNTANT) (363 Points)
Replied 31 May 2017

Yes, registration can be done under the composition scheme.

However, it is not recomended to go for composition scheme since he shall not receive benefit of Input Tax Credit.

1 Like

PRABIR PAUL (*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.) (1443 Points)
Replied 31 May 2017

If you are liable to get the registration under CGST ACT under composition scheme then don't do it register yourself in nomal provision.

Composion scheme doesn't have right to take the ITC.

rohit (none) (186 Points)
Replied 31 May 2017

Composition (Subject to certain conditions)

Disadvantage: No Input Tax Credit: and pay (1% tax out of pocket)

Benefit: Quartely Return instead of Monthly for Normal.

PRABIR PAUL (*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.) (1443 Points)
Replied 31 May 2017

Originally posted by : rohit
	Composition (Subject to certain conditions) Disadvantage: No Input Tax Credit: and pay (1% tax out of pocket) Benefit: Quartely Return instead of Monthly for Normal.

Money is better than labour.

ITC is important rather than quaterly return.

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(Guest)

I agree with Prity Agarwal

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 17 June 2017

1. If you are a Taxpayer having received Acknowledgement Reference Number (ARN):

You should be able to download the Provisional Registration Certificate from "Download Certificates" at GST website from 27th June 2017.

2. If you are a Taxpayer, who has saved the enrolment form with all details but has not submitted the same with DSC, E-Sign or EVC:

You will receive the ARN at your registered email ID, if the data given are successfully validated after 27th June 2017.In case of validation failure (data like PAN not matching), you should be able to login at the same portal from 27th June 2017 onwards and correct the errors. You can refer the registered email for details of the errors.

3. If you are a Taxpayer, who has partially completed the enrolment form:

You can login at the portal on the above mentioned date and complete the rest of the form.

4. If you are not an existing Taxpayer and wish to register newly under GST

You would be able to apply for new registration at the GST portal from 25th June 2017.