Impact if unregistered under GST
watch_later 10 months, 4 weeks ago
What will happen if someone does not register under GST or he is conducting business as an unregistered dealer?
Whether he will lose business opportunities and what are the benefits or disadvantages to an unregistered person?
Pulkit has written a wonderful post on dealing with unregistered person under GST. You should read that article to understand the full consequences of not registering under GST.
However to make it clear first you should understand why a person has not registered under GST.
If his turnover has not exceeded 20 lakhs in a year then he not a defaulter under the law, however if turnover has crossed 20 lakhs and he becomes liable for registration then he has to get himself registered.
Few disadvantages to an unregistered person are:
- Registered persons will not trade with unregistered persons due to reverse charging of tax and negative impact on cash flow
- Can not bid for high value deals as most of the companies will require GST number
- Can sustain only in B2C transactions
- Cannot avail input tax credit
You need to be logged in to answer.
- Penalty and late filing fee for GST audit
- GSTR2 File reg.
- LUT APPLICATION FOR SUPPLIER HAVING ZERO RATED SALE
- E way bill for Line Sales door to door
- eway bill printout required?
- CGST & SGST PAID INSTEAD OF IGST
- Input tax credit on RCM
- Sale in transit e way bill issues
- gst registration and return for tax practitioner
- ITC in GSTR3B
- Basic E-way rules and FAQ
- What is GST?
- GST Suvidha Kendra
- Documents required for GST registration
- Frauds possible under GST?
- Fraud under GST
- How to apply Letter of Undertaking (LUT)?
- Best free billing software in India
- How to apply for transporter ID by a transporter under GST?
- WHAT IS AN E-WAY BILL UNDER GST AND HOW TO GENERATE AN E WAY BILL - Video tutorial