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Q. Decide giving reason whether registration under GST is required or not in the following cases: (a) Mr. X is a retired person earning pension of Rs.4,20,000 per annum. He owns two buses engaged in providing transportation services to local schools for transportation of faculty, staff and students for which he charges Rs. 2,00,000 annually per bus. He has fixed deposits in banks earning annual interest of Rs.10,60,000.?
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Q. Decide giving reason whether registration under GST is required or ...
Registration under GST for Mr. X


Retired person earning pension

Mr. X is a retired person earning pension of Rs.4,20,000 per annum. As per the GST law, registration is required only if the aggregate turnover exceeds Rs. 20 lakhs (Rs. 10 lakhs for special category states). Since Mr. X's annual pension income is below the threshold limit, he is not required to register under GST.


Transportation services for schools

Mr. X owns two buses engaged in providing transportation services to local schools for transportation of faculty, staff and students for which he charges Rs. 2,00,000 annually per bus. As per the GST law, registration is mandatory for a person who is involved in the supply of services and has an aggregate turnover of more than Rs. 20 lakhs. In this case, since the annual turnover from transportation services is Rs. 4,00,000 (2 buses x Rs. 2,00,000), Mr. X is not required to register under GST as his turnover is below the threshold limit.


Interest on fixed deposits

Mr. X has fixed deposits in banks earning annual interest of Rs.10,60,000. Interest earned on fixed deposits is not considered as a supply of goods or services and hence does not attract GST. Therefore, Mr. X is not required to register under GST for the interest earned on his fixed deposits.


Conclusion

Based on the above analysis, Mr. X is not required to register under GST as he does not exceed the threshold limit of Rs. 20 lakhs for any of his business activities.
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Q. Decide giving reason whether registration under GST is required or not in the following cases: (a) Mr. X is a retired person earning pension of Rs.4,20,000 per annum. He owns two buses engaged in providing transportation services to local schools for transportation of faculty, staff and students for which he charges Rs. 2,00,000 annually per bus. He has fixed deposits in banks earning annual interest of Rs.10,60,000.?
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Q. Decide giving reason whether registration under GST is required or not in the following cases: (a) Mr. X is a retired person earning pension of Rs.4,20,000 per annum. He owns two buses engaged in providing transportation services to local schools for transportation of faculty, staff and students for which he charges Rs. 2,00,000 annually per bus. He has fixed deposits in banks earning annual interest of Rs.10,60,000.? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Q. Decide giving reason whether registration under GST is required or not in the following cases: (a) Mr. X is a retired person earning pension of Rs.4,20,000 per annum. He owns two buses engaged in providing transportation services to local schools for transportation of faculty, staff and students for which he charges Rs. 2,00,000 annually per bus. He has fixed deposits in banks earning annual interest of Rs.10,60,000.? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Q. Decide giving reason whether registration under GST is required or not in the following cases: (a) Mr. X is a retired person earning pension of Rs.4,20,000 per annum. He owns two buses engaged in providing transportation services to local schools for transportation of faculty, staff and students for which he charges Rs. 2,00,000 annually per bus. He has fixed deposits in banks earning annual interest of Rs.10,60,000.?.
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