TaxTMI 
TaxTMI 
Exemption limit
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....xemption limit<br> Query (Issue) Started By: - Amresh kumar Dated:- 23-4-2021 Last Reply Date:- 26-4-2021 Goods and Services Tax - GST<br>Got 6 Replies<br>GST<br>Sir, In 2018-19 I raised a bill for professional service amounting to Rs Sixteen lakhs ( ₹ 16,00,00,0/-) in 2019-20 I raised the bill for professional service for Rs Twelve lakhs Rs(12,00,00,0). The TDS was deducted in 2019-20 f....
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....or both the years I.e 2018-19 and 2019-20. Now 26 AS statement for 2019-20 reflects the amount of SRS 28,00,00,0/-. Shall I have to take GST registration since the TDs for 2018-19 is reflected in 2019-20. Regards Amresh Kumar Reply By KASTURI SETHI: The Reply: Sh.Amresh Kumar Ji, While filing Income Tax return for financial year 18-19 (A.Y.19-20)and 19-20 (A.Y.20-21), have you not shown....
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.... figures separately ? I think there is some error on your part. Reply By Amresh kumar: The Reply: Respected kasturi sir, The income tax return is filed for both the years mentioning the turn over of 16 lakhs and 12 lakhs. The TDS of 2018-19 was however deducted in 2019-20 by the recipient of the service and this had been mentioned in the Income tax return filed for F.Y 2019-20 . Regards Re....
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....ply By KASTURI SETHI: The Reply: Dear Sir, If it is so, you need not apply for registration. Reply By ARVIND JAIN: The Reply: No need for GST registration as in both years its below the exemption limit but you should not be claiming Full TDS otherwise you may get a notice for registration and mismatch of turnover. Hope you have claimed proportionate TDS only. Reply By Ganeshan Kalyani: The ....
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....Reply: Sir, the threshold exemption for GST registration has to be assessed by not considering the turnover as per 26AS. Reply By GB Rao: The Reply: Dear querist, I agree with the experts opinion on your query.<br> Discussion Forum - Knowledge Sharing ....