One of our clients has petrol pump since NOV 2017, he has not applied for VAT/ GST registrations yet. Their turnover till March 2018 (FY 2017-18) is Rs. 70 lakh approx.
What they should have done in respect of VAT/ GST registrations? What would be the consequences for non registrations under VAT/ GST?
Despite petrol and petroleum products, including diesel and natural gas, being exempt under the GST, filling stations will come under the tax ambit as they also sell lubricants and distilled water, which are not exempt.
Therefore, Petrol pump dealer has to take VAT as well as GST registration.