Registration when Turnover is less than 40 lacs

[Sundaraiah kollipara]

 Sir,

Client GST non-registered retail pharmacy business store maintained sales turnover Rs. 36 lacs f.y.24-25 itr returns filed every year.

Question:

Dealer non registered certificate issued by Chartered accountant sales turnover below rs:40 lacs threshold limit certificate compulsory provision applicable for gst act

[FCA Adv amit aggarwal]

if turnover exceeds 40 lacs in any FY mandatory to take GST certificate. To reduce GST tax liab you can take registration under composition scheme (in it ITC shall not available and GSTR 4 will be filled ).

normal GSTIN or composition scheme GSTIN it depends on types of medicines sold by pharma retailer - after 22 sep 2025 most of the medicines covered under 0% and 5 %.

AI Summary

GST registration threshold and composition scheme guidance for a retail pharmacy with turnover below the limit. GST registration is described as mandatory when turnover exceeds the 40 lakh threshold in a financial year. A retail pharmacy with turnover below that limit is discussed in relation to voluntary registration or registration under the composition scheme, which does not allow input tax credit and requires filing GSTR-4. The discussion also notes that the choice between normal GSTIN and composition GSTIN depends on the types of medicines sold by the retailer.