A person I.t. return filed today sales of taxable goods turnover Rs:45 lacs show in it return f.y.19-20 .but dealer not registration in gst act.(turnover threshold limit Rs:40 lacs)
What is the consequences to dealer not gst registered in gst act.
Since dealer has crossed limit of Rs. 40 lakhs he should have registered under GST.
In this case department can do suo-moto registration and demand GST on sales made along with interest and penalties.
It is advised to register dealer under GST and pay GST under composition scheme. Tax will be only 1% of 5 lakhs.
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