Who all are exempted under GST? What's the GST rate for Internet products like Gsuite effective July 1st?
GST is mandatory for any e-commerce operator irrespective of the turnover. Also, if any entity works directly or indirectly with e-commerce has to comply and mandatory to have GSTIN. Also what kind of business are you into?
Hi Vinayak, Thanks for the response.
We are into Digital Printing Services Marketplace. We deal with Printing Vendors for printing services.
Can you please clarify who all are eligible for 20 lakh threshold revenue?
Any business that does an annual turnover of above Rs.20lakh has to comply with GST. In your case, if your vendors have revenues/turnover they should have GSTIN registered. Otherwise, it becomes a sale to an unregistered dealer and the party which is purchasing goods and services will not be eligible to collect input tax credit.
Hope this helps!
18% on internet and services through it. But you will get input credit.