No need to take GST registration or pay GST(old service tax) if your services annual turnover is less than 20 Lakhs (Earlier the limit was 12 lakhs).Same is the case for small businesses selling goods.Service tax which was 12% pre 2014 and 15% pre July 2016 is now about 18% on an average in GST. Responses 1. T.R. Ananthanarayanan There are certain points to be noted.One will have to register for gst if having interstate supply. There are chances when our retailer is having more turnover and if we don't register the input tax credit of the retailer shall be beared by them or passed on to customer. This causes the price to go up and thereby loosing a margin to competitor product which may have been gst registered. There are chances the some retailers may discourage products. So better to take gst and claim the tax input credit. Only disadvantage is once registered, the invoice filing system have to be maintained. Can be handwriten and a small player need an Internet access ...
a place to burn the frustrations and share aspirations of Maneesh Jayachandran