In today’s video, we’ll discuss an important topic: the applicability of GST when your aggregate receipts through UPI exceed the threshold limit of GST registration. 🤔


*Why is this Important?*

If you're a business owner receiving payments through platforms like Google Pay, PhonePe, or Paytm, and your total receipts exceed the prescribed limit, the GST Act mandates you to register under GST. ⚠️


Let’s dive into the details with a recent real-world example.

This is a notice issued under the Tamil Nadu Goods and Services Tax (TNGST) Act, 2017. The recipient was identified as a merchant receiving payments through UPI platforms. Their total receipts for the financial year crossed ₹20 lakhs (₹10 lakhs for some states). Despite this, they failed to register for GST. 🧐


*Threshold Limit for GST*

- ₹20 lakhs for most states.
- ₹10 lakhs for special category states.


*Relevant Section: Section 22(1) of the GST Act*

Section 22(1) states that if your turnover exceeds the threshold, you must register under GST, even if the transactions are digital and seem informal. Failure to do so can attract penalties. ⚠️


*Steps to Take*

If you’ve received a notice like this, here’s what you need to do: ➡️

1. Submit your documents for registration under GST. Documents include PAN card, Aadhaar card, Voter ID and Driving License. 📄

2. Start collecting and remitting GST for applicable transactions. 💰


*Consequences of Ignoring the Notice*

Non-compliance can result in penalties under the provisions of the GST Act. This includes fines and even prosecution in severe cases. So, take this notice seriously! ⚠️🚫


Stay informed, stay compliant! 💯👍


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