QuestionsCategory: GSTWhether my service will covered under Exemeption services
Sonai Chowdhury asked 2 weeks ago

I am going to start a new manufacturing unit for that the machine which i am purchasing the GST amount of that is coming around 5 lakhs rupees. 
 
For a new stater it’s a huge amount. 
Q 1. Any rules in GST to exempt that tax amount for the New SSI Unit?
Q 2. Before I purchases the I have to do the GST number?
Q 3. If I paid that GST amount how i can get the benefit of that?
Q 4. If my turnover   of this financial year less then 20 lakhs , Then how I’ll be benefited ? 

1 Answers
Team FileMyGSTR Staff answered 1 week ago

Here are the answers to your query:
 
For a new stater it’s a huge amount. 
Q 1. Any rules in GST to exempt that tax amount for the New SSI Unit?
No Such exemption is available.

Q 2. Before I purchases the I have to do the GST number?
If you have a GST Registration, you can claim an input tax credit against your future GST liability.

Q 3. If I paid that GST amount how i can get the benefit of that?
It’ll be available in your account on GST portal and you can use the balance in future.
Q 4. If my turnover   of this financial year less then 20 lakhs , Then how I’ll be benefited ? 
In such case obtaining GST registration is voluntary, however if you have a high-value purchase, then it is advisable to obtain GST Registration Number.

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