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TMI BlogONE TIME REGISTRATION.X X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Experts Following is the question. Professional consideration received during 2018-19 has exceeded ₹ 20 lakhs which was ignored due to oversight registration was not taken. Now the person wants take registration voluntarily for the year 2018-19 and desires to pay applicable GST thereon. During subsequent years, the consideration received is less than threshold limit prescribed for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... registration.As such continuation of registration is not required. Kindly clarify how to take voluntary registration for 2018-19 now and pay GST accordingly. Any specific provisions/notifications for such situations may please be highlighted. - Reply By KASTURI SETHI - The Reply = There is no such provision for applying for registration retrospectively. The concerned person was required t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o apply for registration within 30 days from the date of crossing threshold exemption limit. Lapse has occurred for which penalty is imposable. Now apply for registration and pay arrears of tax (2018-19) along with interest and late fee. Registration to be obtained now will continue for the year 19-20. If turnover remains below threshold limit in the current year, you can surrender registration ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in April, 2020. - Reply By Sadanand Bulbule - The Reply = Thank you so much for your quick fabulous clarification Sirji. 🙏🙏 - Reply By KASTURI SETHI - The Reply = As Section 122(1) (ix) (xi) of CGST Act , Penalty is ₹ 10,000/- if a person who is liable to be registered under this Act but fails to obtain registration. Section 73 (8) of CGST Act :- Where any pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rson chargeable with tax under sub-section (1) or sub-section (3) pays the said tax along with interest payable under section 50 within thirty days of issue of show cause notice, no penalty shall be payable and all proceedings in respect of the said notice shall be deemed to be concluded. Above both issues are separate. - Reply By Sadanand Bulbule - The Reply = Sir Thank you so much ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for further updates on the issue. - ONE TIME REGISTRATION. - Query Started By: - Sadanand Bulbule Dated:- 29-8-2019 Goods and Services Tax - GST - Got 4 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management 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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