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Abhishek Shah76 Answers  |Ask -

HR Expert - Answered on Feb 17, 2023

Asked on - Feb 16, 2023Hindi

I'm sole trader doing business with a turnover of not more than 10 lac per anum. When I supply food items they insist on gst. I dont have. What to do
Ans: Hello Muthu,

I hope you're doing well.

As a sole trader, if your turnover is not more than 10 lakh per annum, you are exempt from registering for GST. However, if your customers are insisting on GST, it may be because they are registered under GST and are required to collect and remit GST on the goods they purchase.

In this case, you may want to consider registering for GST voluntarily. Voluntary registration will allow you to collect GST from your customers and remit it to the government. It may also allow you to claim input tax credit on your purchases.

To register for GST, you can visit the GST portal and follow the registration process. You will need to provide your business details, PAN card, and bank account details. Once you are registered, you will be issued a GSTIN and can start collecting and remitting GST.

It is important to note that once you are registered for GST, you will be required to file regular GST returns, even if you have no sales or purchases during the period. Failure to file GST returns can result in penalties and interest.

Therefore, you should evaluate whether registering for GST is in your best interest, taking into account the administrative burden of compliance and the impact on your pricing and competitiveness. If you decide not to register for GST, you may want to consider finding customers who are not registered under GST.

I hope this helps. Good luck.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.


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