Reg but Bellow 20,00,000
Query (Issue) Started By: – Kishan Barai Dated:- 1-7-2017 Last Reply Date:- 16-7-2017 Goods and Services Tax – GST
Got 6 Replies
GST
What if a person is Registered under GST & has a turnover of Bellow 20,00,000 ??
\nShall he has to charge CGST & SGST from Customer ??
\nShall a person will get deduction of Expense like light bill or other expenses like Stationery etc from his Income.
\nPlease elaborate.
\nThank You
\nReply By KASTURI SETHI:
\nThe Reply:
\nDear Sir,
\n Pl. go through Q.No.18 of FAQ published published by CBEC in the newspaper dated 28.6.2017 which is as under:-
\n Q.No. If I register voluntarily though turnover is less than 20 lakhs, am I required to pay tax from First supply I make post GST regist<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n & SGST from customer, it does not matter that your turnover is less than ₹ 20,00,000\/-. But yes, if you are registered then you have a benefit that you can avail ITC on receipt of supplies of goods\/services. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Reg but Bellow 20,00,000 Query (Issue) Started By: – Kishan Barai Dated:- 1-7-2017 Last Reply Date:- 16-7-2017 Goods and Services Tax – GSTGot 6 RepliesGSTWhat if a person is Registered under GST & has a turnover of Bellow 20,00,000 ?? Shall he has to charge CGST & SGST from Customer ?? Shall a person will … Continue reading “Reg but Bellow 20,00,000”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-5462","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/5462","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5462"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/5462\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
\n And the question about deduction of expenses in income is a matter of Income Tax, it has no relation with GST.
\nReply By KASTURI SETHI:
\nThe Reply:
\nThanks to Ms.Preeti Sharma for perfect and convincing clarification\/reply and for enrichment of my knowledge.
\nReply By Preeti Sharma:
\nThe Reply:
\nIts my pleasure Mr. Kasturi Sethi that i could give a little knowledge to you.
\nThanks
\nReply By Kishan Barai:
\nThe Reply:
\nThank You Very Much
\nReply By Ramesh Kothari:
\nThe Reply:
\n1.Yes u will become taxable person even if below thresh h<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n