I start New Business .my turnover not more than 20 lakh now My CA says Do not register for GST . I am Trading In Machinery Spares . Margin around 20 to 30 % . If I am Not register Gst Bear My Resale cost increase More than 50 to 60%. Its More than GST register trader. PLs any one has suggestion pls tell me more
-If your buyers are registered in GST, then definite they will not provide material from you because they will not get the benefit for paid GST, which you paid during purchase. -If your customers are non-registered & you have total local sale then don't register. -But now it is a up-step to grow your business with GST registration in future also. more
If your customers are end users and not bothered much about price then you need not register for time being. But if they are retailers or institutions that require imput credits,then they will surely don"t prefer to do business with you. But my suggestion is, better to get registered even if your expected turnover is below 20lacs. more
The basic approach to the GST itself is "USER PAYS". It is a chain, starting from the manufacturer's Input Tax credit, and terminating with the end user, who will buy the products from you. But, as "last-stop" trader, if you OPT for GST chain, then, you must Regsister, with GST authority Prepare GST invoice, quoting your GSTIN No. Collect the tariff GST Remit the GST due to the GOVT. If you are a small or Tiny trader, do you have infrastructure for this work, which is 100% Line. In addition to the advice rendered by your CA Sir, please get in touch with the GST Seva Kendra in your jurisdiction and ask all questions and get answers from the "horses mouth." Good Luck. M.Balachandran more
Time limit for making Refund Application A person claiming refund is required to file an application on the GST Portal in Form GST RFD-01 before the expiry of two years from the “releva...
Car is a fixed asset , it depreciates. If you sell a used car either you make profit or loss. Hence it should be subject LTCG/STCG tax only if you make profit. How is selling a used car misco...
The GST hair splitting over Popcorn is but a symbol of how theGovt has spectacularly failed in taming the bureaucracy. In 2014 when this Govt came to power they promised to make simpler laws. And t...
Govt consdiering: Recommendations to increase GST on Tobacco and Tobacco products to 35% from 28% Aerated Beverages GST also expected to rise to 35% Govt may consid...
GST office dont make any gate pass , no security checks . Is this to facilitate people to walk in with cash and gifts for officials. What happens if terrorist gets in .
Indian taxation is truly hell, the average Indian gets paid 20x less than average westerner but pays 10x more for essentials like laptops while 50x for cars. This is literally butchering the middle...
According to my husband, Corruption in GST starts from registration itself now. Getting told it's impossible to get it done in Delhi without a bribe. You get a query for more docs with t...
You can get a rate card for everything in gst office Registration 10k Assessment where no tax payable 15 k Refunds 4% This is what a friend is saying. LC Manager must esc...
Nephew had applied for GST cancellation a couple of months back but continues to receive notices from GSTN for failure to file monthly return. His accountant tells him that GST office will not proc...
7 years post the launch of GST I must tell you that most retail services businesses in India still evade it and Govt has failed to do anything. From ac repair fellow to caterers and from...
By Sudesh Rai
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