Business Standard

What is time limit under GST for bringing back goods sent to a job worker?

Under the GST regime, goods sent to a job worker should be treated as a supply, as supply includes all forms of supply such as sale, transfer, etc

Amit Bhagat
Premium

Amit Bhagat

Amit Bhagat
An individual availing of the benefit of the composition scheme under the goods and services tax (GST) regime crosses the turnover of Rs 1.5 crore during the year (say in October 2017). Will the person be allowed to pay GST under that scheme for the rest of the financial year? 

According to GST law, the option of discharging the GST liability under the composition scheme by a registered person lapses the day his aggregate turnover during a financial year exceeds the prescribed limit. 

Therefore, you are not eligible to discharge GST under the composition scheme for the rest of the

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in