gst applicability after voluntary registration

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..... gst applicability after voluntary registration
Query (Issue) Started By: - Rakesh Sharma Dated:- 22-2-2021 Last Reply Date:- 23-2-2021 Goods and Services Tax - GST
Got 3 Replies
GST
If in fy 19-20 turnover of business is 22 Lakh till feb 20 (if gst registration limit is 40 lakh in state) and if i have taken gst registration in Mar 20. and in march Gst turnover is 2 Lakh. so total turn .....

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..... over will be 24 lakh. if i filed itr for 24 lakh whether it will be any problem ? will i get gst department or income tax depratment notice? is there gst applicability on 22 lakh turnover? Reply By Ganeshan Kalyani: The Reply: GST registration once obtained then even if turnover is withing threshold limit one need to collect and pay GST to the Govt. Yes, it is likely to receive notice particular .....

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..... ly from GST dept if tax is not paid. Reply By Rakesh Sharma: The Reply: but 22 lakh turnover is prior to registration? whether i will hv to pay gst on that? because goods purchased and all sold befor registration. Reply By KASTURI SETHI: The Reply: Sh.Rakesh Sharma Ji, My views are as under:- (i) It is not in dispute that you have taken voluntary registration before crossing threshold exemp .....

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..... tion limit in March, 20. Had you taken registration in the next Financial Year i.e. in April,20 it would have been better and safe with a purpose to avoid unnecessary (avoidable) litigation. (ii) Now in case you pay GST on ₹ 2 lakhs, it is most likely (100%) that you will receive letter or show cause notice from GST department due to mismatch of figures declared in ITR and GST returns. You .....

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..... will have to justify the difference between both returns. First of all you will receive letter only and NOT SCN. If you justify the reasons for mismatch, SCN will not be issued. (iii) In the case of voluntary registration (before crossing threshold exemption limiit), the registered person shall pay GST from first supply after registration. Thus that person will enter Input Tax Credit chain before .....

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..... crossing turnover of ₹ 40 lakhs.(we are talking of turnover of goods).
Discussion Forum - Knowledge Sharing .....

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