Menu
keyboard_backspace
ask a question ask a question
Get Realtime Updates of your Request. Download Vidhkarya App

Ask a Question - Free Legal Advice

Please help with the answers for these questions; 1. If my revenue is less than 40 lakhs per annum then is it that I don't have to register? 2. I f I am already registered then what do I do, do I surrender the GST registration? 3. Do I not take GST from my customer till teh revenue reaches 40 lakhs? Thanks in advance
Share this questionShare Icon

A. What should I do if my business turnover is less than 20 lakhs, for the GST? Hi Zahir ! GST registration is critical because it will enable you to avail various benefits that are available under the GST regime. One such benefit is to avail seamless input tax credit. So it is advised that you do not cancel your registration and continue to take benefits of the same.(See benefits of voluntary registration below) GST registration is mandatory irrespective of turnover for following persons & businesses Those making inter-state supply of goods/services Any person who supplies goods/services in a taxable territory and has no fixed place of business – referred to as casual taxable persons. Registration issued to such a person is valid for a period of 90 days. Any person who supplies goods/services and has no fixed place of business in India – referred to as non-resident taxable persons. Registration issued to such a person is valid for a period of 90 days. Person required to pay tax under reverse charge mechanism. Reverse charge mechanism means where the person receiving the goods/services has to pay tax instead of the supplier. Agents or any other person who makes supply on behalf of other registered taxable persons Distributors or input service distributors. This person has the same PAN as the office of the supplier. This person is an officer of the supplier, he receives supplies and issues tax invoice to distribute credit of CGST/SGST/IGST. E-Commerce Operator Persons who supplies (except branded services) via an e-commerce operator Aggregator supplying services under his brand name Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person. Persons with turnover less than Rs. 20 lakhs can also register voluntarily under GST. Voluntary registration under GST A person may opt to get himself registered voluntarily under GST even if he is not liable to be registered. All the provisions of GST applicable to a registered taxable person will similarly apply to such a voluntarily registered person also, i.e., he will be treated as a normal taxable person. Advantages of voluntary registration under GST In spite of composition levy, many small organizations are planning for voluntarily register themselves under GST. This is because composition levy has certain drawbacks. Voluntary registration will avoid such drawbacks and give the following advantages- Legally recognized as supplier of goods or services– This helps in attracting more customers Provide input tax credit to customers-As they can issue taxable invoices,they can collect GST. Their customers can take input credit on their purchases. Become more competitive– They will be more competitive than other small business as buying from them will ensure input credit. Take input credit– Voluntarily registered persons can take input credit on their own purchases and input services like legal fees, consultation fees etc. Make inter-state sales without many restrictions– They can make inter-state sales without many restrictions (they will be treated as casual taxable persons). Thus, it widens the potential market for SMEs. Register on e-commerce sites or open own e-commerce website– This will widen the scope of their market further. Be compliant and have a good rating– Registration for GST will ensure that the business is compliant (because most returns are automated). This, in turn, will give a good GST rating and help to boost the business.
Found Helpful
Found Helpful
Share this answerShare Icon
Saket Mohta Exp: 1 Year(s) Kolkata

Rajiv Mehta

Posted 1 month ago

Builder who had booked and sold flats prior to year 2013 and did not charge VAT at relevant time is now after 5 years collecting VAT .Whether the action of builder in collecting VAT is correct and legal as now after 2017 gst has come in force and builder is also issuing receipts under GSTN
Share this questionShare Icon

A. Dear Mr Mehta, The builder could have collected VAT during pre GST REGIME and claim the same carry forward VAT Inputs in GST TRAN 1 when the idea of GST was implemented. Since the builder is now raising GST invoices and VAT, CST, has already been abolished as a part of Indirect Taxes the builder cannot charge or claim VAT neither he can take the benefit of the same in TRAN 1.
Found Helpful
Found Helpful
Share this answerShare Icon
Saket Mohta Exp: 1 Year(s) Kolkata

Top Responding Lawyers

Kishan Dutt Kalaskar Retired Judge

Retired Judge

Experience: 33 Year(s)

Free Advice Given: 2353

Bangalore

View All Answers
Consult

Deepak Bade

Lawyer and legal associate

Experience: 9 Year(s)

Free Advice Given: 1291

Nanded

View All Answers
Consult

Ambrose Leo

Adv.Ambrose Leo Associates & Legal Consultants

Experience: 9 Year(s)

Free Advice Given: 1057

Bangalore

View All Answers
Consult

Shanti Ranjan Behera

Advocate

Experience: 22 Year(s)

Free Advice Given: 1048

Bhubaneswar

View All Answers
Consult

Rameshwar Dadhe

As a advocate

Experience: 2 Year(s)

Free Advice Given: 970

Aurangabad

View All Answers
Consult

Vedant Lakhotia

Legal Counsel

Experience: 3 Year(s)

Free Advice Given: 826

Kolkata

View All Answers
Consult

ROBERT D ROZARIO

Advocate High Court

Experience: 15 Year(s)

Free Advice Given: 776

Kolkata

View All Answers
Consult

Rajender Prasad

Lawyer

Experience: 5 Year(s)

Free Advice Given: 622

New Delhi

View All Answers
Consult

Prabhakara S K Shetty

Advocate

Experience: 19 Year(s)

Free Advice Given: 604

Bangalore

View All Answers
Consult

ARPIT BATRA

Attorney

Experience: 11 Year(s)

Free Advice Given: 536

South Delhi

View All Answers
Consult

GANESH SHARMA

Criminal Lawyer

Experience: 3 Year(s)

Free Advice Given: 409

Faridabad

View All Answers
Consult

Abhimanyu Shandilya

Advocate and Legal Counsel

Experience: 14 Year(s)

Free Advice Given: 406

Kolkata

View All Answers
Consult

Nirmal Chopra

Dr

Experience: 20 Year(s)

Free Advice Given: 385

New Delhi

View All Answers
Consult

Ashish Dongre

Advocate

Experience: 12 Year(s)

Free Advice Given: 327

Mumbai City

View All Answers
Consult

NILANJAN CHATTERJEE

ADVOCATE

Experience: 5 Year(s)

Free Advice Given: 310

Howrah

View All Answers
Consult

Vishwabandhu

SENIOR LAWYER

Experience: 38 Year(s)

Free Advice Given: 291

Jabalpur

View All Answers
Consult

Johnson Thangiah

Advocate / Trial Advocate

Experience: 18 Year(s)

Free Advice Given: 276

Tirunelveli

View All Answers
Consult

Mohd Imran

Advocate

Experience: 4 Year(s)

Free Advice Given: 261

Faridabad

View All Answers
Consult

Manjula Shanmugasundaram

Advocate

Experience: 18 Year(s)

Free Advice Given: 204

Chennai

View All Answers
Consult

Rajeev RJ

Advocate

Experience: 17 Year(s)

Free Advice Given: 195

Thiruvananthapuram

View All Answers
Consult

Sunil Kumar Singh

Lawyer,Attorney,Solicitor

Experience: 17 Year(s)

Free Advice Given: 139

Kanpur

View All Answers
Consult

Ved prakash Shaw

Advocate

Experience: 38 Year(s)

Free Advice Given: 132

Bhubaneswar

View All Answers
Consult

VIMAL K MISHRA

Advocate High Court

Experience: 15 Year(s)

Free Advice Given: 123

Allahabad

View All Answers
Consult

Sanjay Kumar Jha

Advocate

Experience: 17 Year(s)

Free Advice Given: 119

Patna

View All Answers
Consult

Shreyash Mohta

Advocate

Experience: 1 Year(s)

Free Advice Given: 117

Kolkata

View All Answers
Consult

Are you looking for Lawyer ?

  • To File a Case
  • To Send /Respond to Legal Notice
  • To Defend a Case
  • To Draft/Review a Document/Agreement
  • To Represent an ongoing Case
  • For Registration Services
  • For Legal Opinion

post your matterPost Your Matter

Need a Quick Legal Advice NOW?

Don’t want to wait! Call at the toll free
number and get a call from an expert Lawyer
within an hour!

talk to lawyer7604047601