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Issue ID: 116247
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Turnover below threshold limit

Date 28 Apr 2020
Replies 4 Replies
Views 2258 Views
GST turnover threshold compliance: officers may demand accounting records to verify whether registration and taxable turnover apply.
Officers assessing a retail pharmacy below the GST registration threshold may seek documentary proof of turnover and supplies, including income tax returns, Form 26AS, profit and loss accounts, balance sheets, sales and purchase invoices, sales register and bank statements, with emphasis on establishing aggregate taxable turnover for the financial year and verifying declared supplies or credits. (AI Summary)

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.

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