One of our readers from Jhansi wrote to us with this query:
I cancelled my GST, as my annual income is less than Rs.20 lakh. However, AMCs have been raising invoices against my ARN. I have told a few AMCs about this but they say their system shows that I have GST registration number.
Jagdish Narayan Agarwal, Jhansi, UP
Dear Jagdish,
While you can continue to avail GST exemption if you earn less than Rs.20 lakh a year, you may get notice from taxmen if AMCs continue to raise invoice against your ARN.
Remember that you are required to update AMFI about your GST status. Once you cancel your GST registration, you should send an email to amfigst@camsonline.com with details of the past GST number. You will also have to attach a scanned copy of acknowledgement receipt on cancellation of GST registration.
AMFI with the help of CAMS will update all AMCs and RTAs about your GST status. This means you need not inform AMCs and R&T agents separately.
Currently, the government has exempted distributors earning less than Rs.20 lakh a year from paying GST. The limit is Rs.10 lakh for distributors from special states/UTs - Arunachal Pradesh, Assam, Jammu and Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh and Uttarakhand.
For further help, you can seek clarity and lodge your GST related complaints at GST Seva Kendras. GST Seva Kendra aims to resolve grievances related to GST.
Please note that Cafemutual has spoken to GST experts at consulting firms, compliance officials at AMCs and chartered accountants to write this report. We intend to clarify your doubts on GST. This does not tantamount to be a tax advice of any nature or a recommendation. Please take advice from a qualified tax advisor for your guidance.
