Is not, Double mouth for below 20 lacs turnover businessman or vender
One side, govt tells no need gst for such small businessmen/venders whose turnover bellow 20 lacs, on other side giving lollypop (as ITC )to the registered (principle)companies as they can compelled their dealing unregistered venders to be registered in GST.
The situation become very crucial for service venders having turnover less than 2 lacs a year, and the tax officer sending notices bearing threat of cancellation/ threat of penalties and other legal complications to harass. In this case if GST registration cancelled, the principle company would not dealt with further, means demolishing act of employment , directly.
So, it seems, required immediate action to cure.
Thanks! more
The situation become very crucial for service venders having turnover less than 2 lacs a year, and the tax officer sending notices bearing threat of cancellation/ threat of penalties and other legal complications to harass. In this case if GST registration cancelled, the principle company would not dealt with further, means demolishing act of employment , directly.
So, it seems, required immediate action to cure.
Thanks! more
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Companies receive money on client account, and must not be taxed for income. For example, flipclass.in more
Jun 03
The root cause of these problems in Input Tax Credit (ITC) which needs to be removed. Certain businessmen are using ITC to defraud government of GST. Let us hope new FM in Modi 2.0 will take action to remove the provision of ITC and reduce GST rates accordingly. more
Jun 03
There is absolutely no need of registering businessmen or vendors with a turnover of less than 20lakhs per year because of the continuous decline in rupee value and illiteracy of maintaining the accounts for ITRs. However, based on the Bank Pass Book records the firm/vendor may file a Nil ITR - may be registered, though, under Income Tax Act/Rules. more
Jun 02
