GST Registration

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..... GST Registration
Query (Issue) Started By: - saket s Dated:- 31-5-2021 Last Reply Date:- 1-6-2021 Goods and Services Tax - GST
Got 3 Replies
GST
Dear Experts, Pls clarify: a. If a dealer exceeds registration turnover limit ( i.e. 40 Lkah ) in the month of December & he has applied for Registration. Can he liable to pay GST on turnover during April to November? b. GST bills received .....

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..... partly before receipt of GST Registration certificate & same party's bills received partly after GST receipt of GST Registration certificate. Can a dealer claim ITC on bill received prior to GST Registration? Thanks Reply By KASTURI SETHI: The Reply: Sh.Saket s Ji, Query-wise reply is as under :- (a) You are liable to pay GST from the date of registration. (No tax is to be paid from April to .....

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..... Nov. ) (b) Yes under Section 18 of CGST Act. See Rule 40(1) of CGST Rules, 2017. FORM ITC-01 has to be uploaded on common portal. Go through carefully. Reply By NEERAJ KUMAR, RANCHI: The Reply: Regarding your first question : you are not liable to pay tax for the period prior to crossing the threshold exemption and seeking registration. regarding second question. Think yourself, When you did .....

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..... not have registration, how ITC can be credited in your credit ledger for the earlier period. Reply By KASTURI SETHI: The Reply: See Section 18 (1)(a) & (b) of CGST Act. ITC is allowed on inputs held in stock and contained in stock of finished goods and semi-finished goods. Also on capital goods subject to conditions.
Discussion Forum - Knowledge Sharing .....

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