Threshold limit of turnover for levy of GST in the case of a person having business (supply of goods and services) in Gujarat is

Related MCQs

• Section 2(6) of the CGST / SGST Act, 2017 defines aggregate turnover which is being computed on all India basis excluding the taxes charged under CGST Act, SGST Act, UTGST Act and IGST Act. Aggregate turnover shall include all supplies made by a taxable person comprising of (i) Taxable supply (ii) Exempt supply (iii) Export of goods and services (iv)All inter-state supply of person having same PAN (v) Supply on which tax is levied on reverse charge basis (vi)Value of all inward supply
• Section 2(62) of the CGST Act, 2017 specifies input tax in relation to a registered person to mean Central Tax, State Tax, Integrated Tax or Union Territory Tax charged on any supply of goods or services or both and also include: (i) Integrated goods and services, tax charged on import of goods (ii) Tax under the provisions of section 9(3) and 9(4) (iii) Tax paid under composition levy (iv)Tax under Union Territory Goods and Services Tax Act
• GST Ltd. has business places at Lucknow, UP and Kanpur, UP having the same PAN; and Aggregate Turnover in the financial year not exceeding ` 75 lakhs. Can it opt composition levy for Lucknow and normal levy at Kanpur?
• Which of the following services are notified under section 9(3) of CGST Act, 2017 or section 5(3) of IGST Act, 2017 the tax on which shall be paid on reverse charge basis by the recipient of such supply ? (i) Supply of security services provided by a person other than a body corporate to a composition tax payer (ii) Services supplied by an insurance agent to insurance company located in taxable territory (iii) Supply of services by way of renting of hotel accommodation through e-commerce operator. (iv)Supply of notified categories of goods or services or both by a supplier, who is not registered, to specified class of registered persons. Choose from the following options :
• Mr. Pappu Singh, commenced his business in Feb. 2019. He has established following units : (i) Unit A (in SEZ) and Unit B (non-SEZ) in the State of Maharashtra (ii) Unit C in Delhi (iii) Unit D and E in the State of Goa Mr. Pappu Singh has approached you to help him in determining the states and number registrations he is required to take under GST (presuming the fact that he is making taxable supply from each state and his aggregate turnover exceeds the threshold limit) :
• Exempt supply means supply of any goods or services or both which may be wholly exempt from tax under section 11 or under section 6 of the IGST Act and includes (i) non-taxable supply (ii) zero rated supply (iii) supply having nil rate of tax (iv) composite supply
• A supply made by a taxable person to a recipient consisting of two or more taxable supply of goods or services of both or any combination thereof which are only bundled and supplied in conjunction with each other in the ordinarily course of business out of which one is a principal supply has been defined u/s 2(3) of CGST Act, 2017 to mean
• A supply made by a taxable person to a recipient of goods being buyer consisting of two or more taxable supplies of goods or services or of both or any combination thereof which are only bundled and supplied in conjunction with each other in the ordinarily course of business out of which one is a principal supply has been defined u/s 2(3) of CGST Act, 2017 as
• Mr. Dev Anand is engaged in providing services of facilitating sale and purchase of securities to various clients. He is also engaged in trading of securities. His turnover details are as follows : Trading of securities - ` 40,00,000 Brokerage on account of facilitating transactions in securities - ` 30,00,000 You are required to ascertain aggregate turnover of Mr. Dev Anand under GST :
• What will happen if the turnover of a registered person opting to pay taxes under composition scheme during the year 2019-20 crosses threshold limit?