Hi Srikant,
Hope you are doing good.
Can you please help on the below query:
One of my client is involved in inter state trade of selling textile goods. But the turnover is below
Rs20lacs pa.Although my client has got his business registered under GST but the question is that even
though the turnover is below 20lacs p.a, is the client liable to charge GST from the customer on its
sales. If yes, whether he will be eligible to get full refund/credit once the return is filled.
Or Shall the client file his return with nil rate of tax as the turnover is below 20lacs.
Please advise.
Many thanks in advance.
Regards
Ravi
1 Answers
Dear Ravi,
As the nature of business is inter-state, registration of GST (as done) is mandatory.
But once registered, I believe that the traders will have to pay taxes on all supplies, even if turnover is less than Rs 20 lakh.
I believe that they have to charge GST and deposit it to the Govt. Even if there were no transactions in a certain month, return would have to be filed once registration was done. They can also claim Input Tax Credit. You may also kindly consult a CA in this regard.
I believe that they have to charge GST and deposit it to the Govt. Even if there were no transactions in a certain month, return would have to be filed once registration was done. They can also claim Input Tax Credit. You may also kindly consult a CA in this regard.
Thanks Sreekanth.. Appreciate your help on this.
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