20 lakhs for service providers. Offences and Penalties under GST (Penalty for not obtaining GST registration) The word penalty is not categorically defined under GST laws and regulations. However, a penalty under GST can be both corporal (jail term) and pecuniary(monetary), civil, or criminal....
Non-filing of GST return on time will attract a penalty of 20-50 per day until GST return for such month/ quarter not filed. Q. My turnover is not exceeding INR 20 Lakhs Do i still need to file returns ? Once you have obtained GST Registration, You have to file GST returns irrespec...
#2. If the turnover of an individual is below 20 lakhs and he has registered under GST, he can opt for GST cancellation. #3. Dissolution or amalgamation of business GST cancellation procedure is a must to avoid getting tax notices from the government. ...
How much is the fees for GST registration? “No fee”is required for registering your business under GST. Who is not eligible for GST registration? Small businesses with annual turnover below the specified threshold limit (currently ₹20 lakhs for most states, ₹10 lakhs for special category...
The limit imposed on GST is the threshold turnover for registration. A person engaged in an exclusive supply of goods and whose aggregate turnover in the financial year does not exceed ₹40 lakhs is not required to register under GST. However, this limit is ₹20 lakhs for special categor...
Answer:No. registration is not required for service providers if aggregate turnover is less than Rs. 20 lakhs. If migrated from service tax, then please use Form REG-29 to cancel your registration. Question 12: if my turnover goes from below Rs. 20 lakhs to above Rs. 20 lakhs in FY ...
The exporter is required to submit the bond, supported by a bank guarantee of an amount not exceeding 15 per cent of the bond amount on a non-judicial stamp paper for each export. The validity of a LUT is for one year and is to be submitted on the company letterhead. ...
There are various reasons for GST cancellation which are as follows – Persons registered under any of the previous tax laws are not liable for registration under GST act. For example– The threshold limit for registration of already registered persons under VAT was Rs.10 Lakhs which has been ...
SIR ALL B2B E INVOICE REQUIRED TO UPADATE GSTN AND MOBILE APP.TO SAVE THE LAKHS ACCOUNTANTS TIME AND RISK FACTOR TO RECONCILE PURCHASES BILLS EVERY MONTH Reply T C Jain January 13, 2022 at 1:28 pm My client is into jewellery business and eligible for e-invoicing, my doubt is whether...
to the merchant with GST added; however, they can revive the actual amount. The tax that is added at this stage affects the final cost. A similar approach applies to subsequent transactions, except that as the ultimate user is the last in the cycle, they are not eligible for a tax ...