Turnover below threshold limit, Goods and Services Tax - GST

[Sundaraiah kollipara]

Assess trading a retail pharmacy store.turnover below threshold limit( 40 lacs).no gst registered.if any officer visit assess store which type accounting data evidence asked.

Posts / Replies

[PAWAN KUMAR]

Officer may ask itr returns, Form 26AS, details of profit and loss and balance sheets as well as copies of sample sale and purchase of invoices.

If you are in exclusively engaged supply of goods , thresholds limit is rs. 40 lakh in any financial year.

[Sundaraiah kollipara]

Which type of accounting books maintained.

If assess registered in gst act

If assess un registered in gst act.

[Ganeshan Kalyani]

In my view, over the counter nobody will ask for the details. The officer may ask you to come to his office. There he may ask you to submit sales register, bank statement, income tax return etc to figure out the turnover.

[KASTURI SETHI]

I support the views of both experts.