Before me coming in business my father is doing business under composition scheme in GST as a jeweller ,now I also want to take separate GST no under normal scheme in same shop and at same address ,so can I take it ?
Before me coming in business my father is doing business under composition scheme in GST as a jeweller ,now I also want to take separate GST no under normal scheme in same shop and at same address ,so can I take it ?
Yes, you can take a separate GST registration under the normal scheme in the same shop and at the same address as your father's composition scheme business.
However, you'll need to ensure the following:
1. Distinct business entities: Your business and your father's business must be distinct entities, with separate business names, PANs, and Aadhaar numbers.
2. Separate records and accounts: Maintain separate records and accounts for your business and your father's business.
3. Different business activities: Your business and your father's business must have different business activities or separate streams of business.
4. No conflict with composition scheme rules: Ensure that your taking a separate GST registration under the normal scheme doesn't violate any conditions or rules related to the composition scheme.
5. GSTIN: You
Since you stated in point number three that my father's and my business must be distinct, we are unable to operate the same jewellery business.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
CAclubindia
