Process of GST migration for dealers having 50 lakhs annual turnover?

I am below 50 lakhs yearly turn over. I want to migrate to GST . Because my buyers want only tax invoice. May I migrate to GST?

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6 Answer(s)

Yes you can and you have to migrate as limit is only 20 lac. You may opt composition scheme but it has some limitations.

Answered on May 17, 2017.
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Assuming your turnover is above 20 lakhs you have to get GST registration. Now either you can go in composition scheme or regular. In composition you wont be able to transfer the benefits of credits neither to yourself nor your customers. So apply judiciously.

Answered on May 17, 2017.
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You can opt out any time from composition in between

Answered on May 17, 2017.
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If your turnover exceeds Rs.20 lakhs, you have to migrate to GST and you can raise tax invoice.

Answered on May 17, 2017.
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In Composition Scheme you can’t issues Tax Invoice. For that you must have to register as regular Dealer in GST. http://indiataxguide.in

Answered on May 18, 2017.
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If Ur buyers want only tax invoice then you should not go for composition scheme as in that scheme u won’t be able to give tax invoice. composition dealer issues only bill of supply.

Answered on May 18, 2017.
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Gen GST