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GST Return Filing & Tax PaymentNo. of comments:9 A.Ghosh, Kolkata, 67143 On 14-Nov-2017

As per directives received from AMFI, I have taken GST registration in July although my turnover is far below the threshhold limit of Rs 20 lacs. I have filed my GST returns and have paid taxes for the months of August and September 2017, that is, for the brokerage of July and August 2017 received by me in the months of August and September 2017 respectively. With the changes in GST rules with effect from October 2017 eliminating the need for service providers earning less than Rs 20 lacs from registering for GST I seek kind clarification on the following matters: 1) Whether I have to get my GST registration cancelled. If yes, kindly let me know the procedure for the same. 2) Whether I have to file my GST returns and pay taxes for the month of October 2017, that is, file returns for the brokerage of September 2017 received by me in the month of October 2017. 3) If the answer to point no 2 above is yes, kindly let me know how long I have to keep paying GST and filing returns inspite of GST Council's clear announcement that service providers earning less than Rs 20 lakhs would not be required to register for GST even if they have inter-state supply. It appears that IFAs like me who had followed AMFI’s directive and registered for GST inspite of their earnings being less than 20 lacs are being punished as they have to keep on filing returns and paying taxes while IFAs who had ignored AMFIs directive for GST registration are being rewarded as they are not only getting their full commission but are also neither required to pay GST nor file returns.

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Comments Posted
NAVRATAN TANWAR ARN NO :104528 jaipur, 22 Nov 2017

friends its good to see that now RESET GSTR3B available who had not filed return from july to sept or any kind of late fee posted take benefit of it.

NAVRATAN TANWAR ARN NO :104528 jaipur, 22 Nov 2017

its now AMCs turn that they start from October 2017 brokerage payment without GST to those distributors having lower then threshold limit of 20lac. they can obtain undertaking or indemnity from distributors if their brokerage exceeds limit of GST then distributor will be individually liable to inform so that GST charging started above limit brokerage. till from October to march 2018 give relief as per decision of GST counsil

mukesh taneja ARN NO :63027 dehradun, 18 Nov 2017

sir i have registered my gst no. my brokreage under 5 lac. i have to cancel my gst pl. tell me fully

LAJPAT KUMAR AHUJA ARN NO :ARN-1228 noida u.p., 17 Nov 2017

I completely agree with Mr Ghosh. I am going through exactly the same situation. Besides the inconvenience caused in downloading invoice vouchers, preparation of GST statements, engagement of CA,s to file the monthly return on monthly payment of Rs 2000.00 per month. This whole process has caused extra work load with additional expenses on small distributors whose income is much below the laid down limit. We registered due to unclear and confusing instructions on the subject. Now that we have commited the mistake by registering, we should be allowed to de- register.

Natrajan T S ARN NO :108565 THANE, 16 Nov 2017

Now that you have taken GST Registration it is advisable to continue the same without surrendering. The reasons are currently the waiver on IGST transaction without registration and reverse charge of GST to unregistered person is waived till March 2018. However once the system stabilizes the waiver will be removed on these two count and at that time you may have to again go for registration. Hence to avoid registering, cancelling and re registering it is advisable to continue. However for small businesses the return filing is simplified and they will allow quarterly return, only one return of GSTR1 to be filed etc. are worked out. So going forward the system will be easier and simpler. Have patience and let us set example by adhering to voluntary compliance


For all those who fall below the 20 lacs limit of commissions, and have migrated from the erstwhile Service tax module, and have not issued even a single invoice can opt for the deregistering process which is available in the gst login. For those who did not migrate, but registered newly under the present GST regime, falling less than 20 lacs commission earnings, need to wait for further clarity in specific with the deregistration process. For those who have paid in Aug and Sept, you can choose to file Nil returns for the rest of the period until March 2018 and until further instructions. Kindly clarify the above with your GST consultant.

subhendu debnath ARN NO :42832 kolkata, 16 Nov 2017

I am mutual fund advisor. My total income below 5 lakhs, so I cannot belong GST. But all ready registration under GST. i CANCELL REGISTRATION, PLEASE HELP ME.

Gyan Prakash Sharma ARN NO :12077 Lucknow, 16 Nov 2017

Simply, our regulatory authorities want to take some new and oppressive actions effecting the investors and related person. I remember the then Finance Minister Mr. Chidambaram once told that - PAN is the solo identity of a person- but what? there was so many other systems came and went. Now the AADHAR, which is simply the identity of a person but not the proof of citizenship. Why they do not issue a document which solve all the perposes and attachment of that document be sufficient and no need of any other document and/or proof, in any matter, related to identity. At the moment, all the PAN must be related with the AADHAR, then what''s the need of KYC and IPV, I don''t understand? It must be amended immideately because of there is no need to establish the identity of investor after submission of AADHAR.

PRABAL BISWAS ARN NO :6336 kolkata, 16 Nov 2017

Many IFA''s have twisted the rules to their convenience. So those of us who are paying GST properly need not lose sleep. Some take pride on various incorrect methods . Let them lead life they feel is right. My GSTN was wrongly uploaded by CAMS which led to immense amount of problem and in many AMCs it remains wrong despite pursuing the matter multiple times. Can you kindly tell me how can I set it correct in all the houses I work for?

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