TMI BlogShould i Register in GSTX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Sir, I am a small Garment retailer and yearly sell is below 6Lakh. As i understood, i need not to register for GST. But in case when i purchase material from Register Wholesaler, he will be showing that material is purchased by me as i am paying him GST. How n where to keep this purchase of records. What is the procedure. Sorry, I am very new, i may not be able to put my question in ri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ght way. Thank Uday joshi - Reply By Mehak Malhotra - The Reply = Dear Uday Ji, First of all, if you are registered under any of the existing laws(i.e before gst) you have to compulsorily migrate to GST as per the provisions. If you were not registered under any existing laws due to turnover below threshold limit then you will be considered as new registrant under GST and you will not be r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... equired to take registration. If you have already migrated under GST regime, then you will need to submit the application ( FORM GST -29 ) for cancellation of the GST number within 30 days of the appointed day i.e. 01/07/2017 As per my understanding of your business, it is a B 2 C affair which means you would be selling the goods to unregistered CONSUMERS. The person selling to you will have ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... no problem as you will not take the credit of the inputs nor the consumers will take credit of GST paid if any. ONE Interesting point. If you are registered under GST you will have to levy GST in your bills as threshold is mentioned only for Registration and not for payment of taxes as per the provisions. (unlike Service tax). Therefore, if you want to continue with the registration you can ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... opt for composition scheme (1%) and stay clam. And if you do not want to get covered under GST then apply for the cancellation of the registration. I hope the text is useful to you in some manner. Thank you, Mehak Malhotra - Reply By uday joshi - The Reply = Thanks Mam, Thank for your valuable information. I am not registered under GST. Can you pls. elaborate 1% Composition scheme. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Thanks Uday Joshi - Reply By KASTURI SETHI - The Reply = Regarding composition scheme, read Article by Sh.Sunil Kumar Gupta published on 1.7.17 in this forum of TMI. - Should i Register in GST - Query Started By: - uday joshi Dated:- 4-7-2017 Goods and Services Tax - GST - Got 3 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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