if my turnover is below 20 lakh and I opt not to registered under gst.. then what tax should I pay and what return should I fill and
8 Replies
Studentsca
(CA Practice )
(3577 Points)
Replied 17 May 2017
If you are unregistered you can nither collect nor pay any tax. If you are not registered you are not required to file any GST Returns.
shubham
(Student CA Final )
(41 Points)
Replied 17 May 2017
it's mean turnover below 20 lakh is tax free
CA Altamush Zafar
(GST Consultant)
(15971 Points)
Replied 17 May 2017
It means you are tax free till you are unregistered​.
As soon you register yourself you will have to pay GST and file returns regardless of turnover limit
As soon you register yourself you will have to pay GST and file returns regardless of turnover limit
shubham
(Student CA Final )
(41 Points)
Replied 17 May 2017
and what percent of turnover should I pay under composition scheme under gst Act
CA Altamush Zafar
(GST Consultant)
(15971 Points)
Replied 17 May 2017
Rates in composition scheme are:-
1) 5% for outdoor catering and restaurants.
2) 2% for manufacturers
3) 1% for others
Composition scheme is not available to service providers with the exception of outdoor catering and restaurant.
In composition scheme you can neither take credits on purchases nor charge(collect) GST in bill that means you have to pay GST from your own funds.
1) 5% for outdoor catering and restaurants.
2) 2% for manufacturers
3) 1% for others
Composition scheme is not available to service providers with the exception of outdoor catering and restaurant.
In composition scheme you can neither take credits on purchases nor charge(collect) GST in bill that means you have to pay GST from your own funds.
Studentsca
(CA Practice )
(3577 Points)
Replied 17 May 2017
What is the nature of business of the assessee?
Farhaad Jiwani
(Tax Consultant at Nagpur)
(303 Points)
Replied 18 May 2017
CA ALTAUMASH ZAFAR JI is correct.
N.Prasanna
(Accountant)
(22 Points)
Replied 11 June 2017
if I purchase a taxable goods from unregistered dealer.
should good receiver pay tax under reverse charge or good outwards? is there any option to utilize the input credit? like tnvat purchase u/c 12.
should good receiver pay tax under reverse charge or good outwards? is there any option to utilize the input credit? like tnvat purchase u/c 12.
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