Solved Queries
Q. 118 A small fancy stores business is non gst registered person having annual turnover below threshold limit(rs:40 lacs limit) yearly Question: Gst un registered Dealer purchase of goods billing(invoice) name, firm name or proprietor individual name and pan number or aadhar number received from gst selling registered dealer. Which type of accounting records maintained in gst act ?
Ans. As per section 35 of the CGST Act 2017, unregistered person is not required to maintain accounts and records, however it is recommended that the following accounts and other records to be maintained :-
- Inward and outward supply of goods or services or both
- Stock of goods
- Output tax payable
- Details of supplier like names and complete addresses
Q. 117 Is e-invoice applicable for GTA transporter ?
Ans. As per notification no.13/2020- CT, GTA supplying services in relation to transportation of goods by road in a goods carriage is exempt from the mandatory requirement of e-invoicing. Hence, e-invoicing is not applicable to GTA.
Q. 116 What is the turnover limit to get registered under GST ?
Ans. Please find turnover applicable to states with threshold limit of:
| INR 10 lakhs for supplier of goods and /or services | Manipur, Mizoram, Nagaland and Tripura |
| INR 20 lakhs for supplier of goods and/or services | Arunachal Pradesh, Meghalaya, Sikkim, Uttarakhand, Puducherry and Telangana |
| INR 20 lakh for supplier of services/ both goods and services
INR 40 lakh for supplier of goods (intra-state) |
Jammu and Kashmir, Assam, Himachal Pradesh, all other states. |
