I am registered under Service Tax Law having turnover of more than 10 lacs but less than 20 lacs. Whether I am required to migrate to GST under the situation when upto 20 lacs a person is not required to be registered under GST Law.
Suppose I choose not to migrate to GST with the expectation that the Govt may come out with a clarification and give relief in this regard. What will be the consequences if the Govt does not give relief as expected.
Should Small Businesses Migrate to GST Before Implementation? Experts Discuss Turnover Thresholds and Compliance. An individual registered under the Service Tax Law with a turnover between 10 and 20 lakhs inquired about the necessity of migrating to GST, given that registration under GST is not required for turnovers under 20 lakhs. One respondent noted that until the GST Act is implemented, any legal ambiguities generally favor the taxpayer, suggesting no immediate action against them. Another agreed but highlighted that existing registrants should migrate to GST, as the 20 lakh threshold applies post-implementation. They advised proceeding with migration in anticipation of the new law. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
