Gst and I.t. queries

Question BankCategory: OthersGst and I.t. queries
Kollipara sundaraiah asked 1 month ago

Sir,
1.normal itrs(sec 44ad,44ada)and audit filed (sec 44ab) I.t. returns f.y. 2019-2020 year due date  extend 30-11-2020 or 31-03-2021) is correct.
2.gst non registered person trading  goods sales turnover rs:42 lacs in f.y.2019-2020 sec 44ad 8%profit I.t return filed.but person not gst registered in gst act 
Question: a person gst registered required compulsory.i f person present any gst regular or composite scheme registered in gst act dealer sales turnover rs :42 lacs  in f.y. 2019-2020  amounts shown in first gst returns compulsory or any another shown producure .

1 Answers
Rabindra answered 4 weeks ago

As per official notification dated 24-6-2020, Last date to file ITR for FY 2019-20 is extended to 30th November 2020 from 31st July 2020 for normal case and for audit cases due date is extended to 31st October from 30th September 2020.
For more detail regarding due dates for FY 2019-20 Click Here.
For more detail regarding due date calendar, Click here 
w.e.f April 2019, limit of GST registration is enhanced to Rs. 40 Lakh for some states. 
States who opted for the new limit
The above changes were proposed in the 32nd GST Council Meeting held on 10th January 2019. An option was provided to the states to opt for the new limits or continue the earlier ones (status quo).

Normal Category States/UT who opted for a new limit of Rs.40 lakh
Normal Category States who choose status quo
Special Category States/UT who opted for new limit of Rs.40 lakh
Special Category States/UT who opted for new limit of Rs.20 lakh

Kerala, Chhattisgarh, Jharkhand, Delhi, Bihar, Maharashtra, Andhra Pradesh, Gujarat, Haryana, Goa, Punjab, Uttar Pradesh, Himachal Pradesh, Karnataka, Madhya Pradesh, Odisha, Rajasthan, Tamil Nadu, West Bengal, Lakshadweep, Dadra and Nagar Haveli and Daman and Diu, Andaman and Nicobar Islands and Chandigarh
Telangana
Jammu and Kashmir, Ladakh and Assam
Puducherry, Meghalaya, Mizoram, Tripura, Manipur, Sikkim, Nagaland, Arunachal Pradesh and Uttarakhand

 
Note 1: Two hilly states J&K and Assam have also opted to raise the limit to Rs.40 lakh. These two states had the option to remain under lower threshold limits as they fall under the Special Category States. Even previously when these two states had the option to charge GST only on aggregate turnover exceeding Rs.10 lacs, they had opted for a higher threshold limit of Rs.20 lakh.
Coming to your question, if ITR is filed showing turnover more than 40 lakh then you have to be registered in GST. otherwise you may have to face notice. Income tax and GST department are improving co-ordination for information sharing. 
But sale of shares (securities are excluded from definition of  “goods”) is not added while calculating aggregate turnover for the purpose of GST. 
 
 
 

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