One of assess trading goods sales turnover rs: 42 lacs I.t. return filed in f.y.19-20.but Assess not gst registered in gst act.
Question:
1.assess gst registered compulsory.
2.if dealer present regular or composite scheme registered in gst act I.t sales turnover 19-20 Rs : 42 lacs amount shown in first gst returns filed compulsory .
Sundaraiahk@gmail.com Asked question September 27, 2020
In case the supplier is engaged solely in supply of goods. The threshold limit is rs 40 lakhs. Thus GST registration is required compulsorily.
Supply beyond the level of Rs 40 lakhs will be taxable under GST and GST needs to be paid.
Team Clearmytax.in
Frah Saeed Changed status to publish October 1, 2020