Do we have to register under GST if we have one small business whose turnover is below 8 Lakhs and if not then what if some department person come and ask for its reason.
PS: If we have much inventory with us and some of them are without duties? Does officer will do something??
3 Replies
Studentsca
(CA Practice )
(3577 Points)
Replied 11 May 2017
If you are already registered under any of the existing acts then you have to compulsirily migrate to GST. However if you are not registered as of now then registering under GST is optional.
If you have inventories on which you have paid tax and you want credit for it then register under GST.
shubs khandelwal
(12 Points)
Replied 11 May 2017
If we dont get registered then, if an officer pops up and ask for reason, then what we'll do???
do we tell them same story??
do we tell them same story??
Studentsca
(CA Practice )
(3577 Points)
Replied 11 May 2017
Registration is required if turnover exceeds 20 lakhs. In your case that is not happening.
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