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TMI BlogGST applicabilityX X X X Extracts X X X X X X X X Extracts X X X X ..... A service provider whose annual turnover does not exceed ₹ 15,00,000/- gets himself registered under GST in view of GST liability under RCM on one time payment of fee to a Advocate. Once he becomes a registered person under GST Law, I feel he is liable for tax on out word supplies even though the turnover does not exceeds ₹ 20,00,000/- - Reply By KASTURI SETHI - The Reply = Sh.Eth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... irajan Parthasarathy Ji, Your view is correct. Once registered voluntarily or by virtue of working under RCM, tax must be paid and legal formalities are to be complied with. . The issue is crystal clear under Section 25(3) of CGST Act read with FAQs dated 26.6.17 (Serial No.18 refers). - Reply By ABHISHEK TRIPATHI - The Reply = a business entity with an aggregate turnover up to such amo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unt in the preceding financial year as makes it eligible for exemption from registration under the Central Goods and Services Tax Act, 2017 (12 of 2017) So according to the notification, if you're not registered/required to register in the preceding FY then such business entity is exempted. Two possibilities: 1. They business entity was registered in the preceding FY and this year ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... they canceled the registration and thereafter again registered just to discharge RCM. [Very unlikely] 2. The business entity was not registered/required to register in the preceding FY and register itself in this FY just to discharge RCM (if this is the situation, then they are registered under mistake). If this is the situation, then in my view, approach Hon'ble HC and give a shot. Imagine ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unnecessarily the business entity will discharge GST liability now. - Reply By ABHISHEK TRIPATHI - The Reply = *Correction: Notification means - Entry 45 to the NN. 12/2017 - Reply By Ganeshan Kalyani - The Reply = I agree with the views of Sri Kasturi Sir. Once the registration is obtained either by way of threshold limit or because of RCM, the tax payer has to start collecting GST on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... taxable outward supplies and pay GST to the Govt. - Reply By Ganeshan Kalyani - The Reply = In my view, with the online system the compliance have become simple in the sense that physical submission of return with the department is not required, manually preparing the return is also done away with. Many of the taxpayers are filing the return by themself without reaching out to their tax consult ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ant. - Reply By Krishna Murthy - The Reply = The service provider should not have obtained registration just because he was liable to pay RCM in terms of NN 12/2017 CTR entry 45. However, since he has obtained registration voluntarily he has to comply with the provisions of GST law and pay taxes even for turnover below threshold limits. - Reply By KASTURI SETHI - The Reply = Sh. Krishna Mu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rthy Ji, Sir, Do you want to say that the service provider in question has not availed exemption for which that person was eligible (as pointed out by you) ? Pl. confirm. - Reply By Ganeshan Kalyani - The Reply = Sir, if the inward supply falls under RCM then it becomes compulsory for a person to get himself registered under GST and pay tax. - GST applicability - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Query Started By: - Ethirajan Parthasarathy Dated:- 26-7-2021 Goods and Services Tax - GST - Got 8 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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