The GST law makes it mandatory for many to
apply for a GST registration. This article will cover multiple points under
several different headings regarding GST registration in India.
What Is The Prescribed Threshold
Limit for GST Registration?
The threshold limits of GST
registration depend upon state to state. In case aggregate
turnover of a person or entity is more than Rs 20 lakhs, then they would have
to apply for GST registration. However, this limit for the GST registration is
different for some special states like the north-eastern states of India
including Sikkim and Jammu and Kashmir.
The aggregate annual turnover here means all
the taxable and the non-taxable supplies along with the exports of goods and
services of a person that’s having the same PAN. The aggregate annual turnover
doesn’t include all the values of the supplies on which there’s a tax levied on
the basis of the concept called reverse charge basis i.e. inward value
supplies.
Who Require GST Registration?
Those falling into the category of a
mandatory Online GST registration
under the GST act are given below:-
·
Those individuals that make an inter-state supply
which is irrespective of the above mentioned threshold limit for GST
registration.
·
The casual individuals that are taxable, and will
be required to get their GST registration and again, irrespective of the
threshold limit.
·
Also the individuals required to pay any taxes
under the reverse charge.
·
All of the taxable individuals who are
non-resident.
·
Those individuals that needs to do tax deduction
under the section 37 for TDS
·
Those agents that work for the suppliers.
·
The individuals that are input service
distributors.
·
Those who do business and supply the goods and
services via the means of electronic operations like the e-commerce websites.
·
Those that are the aggregators supplying any
service under some brand name or certain trademark.
There are certain situations other than the above
mentioned scenarios
1.
When a supplier makes some taxable supply of goods
or services and their aggregate annual turnover is more than 20 lakhs then it
is required for them to apply for New GST registration in India.
2.
The same as mentioned in point 1, for the suppliers
that are operating from the states of the north-east, Sikkim, Himachal and
Jammu and Kashmir. But here the annual turnover will be at a threshold limit of
Rs 10 lakhs.
3.
Those individuals who were already registered under
the previous tax structure pre-GST.
What is The Time limit
for GST registration procedure?
Those eligible for GST registration must get
their registration done within the time frame of 30 days from the first day
they become eligible for GST registration.
What are the other
aspects of GST registration?
There needs to be always a separate GST
registration for business with multiple verticals as it becomes small units of
different businesses irrespective of the state they are operating in. Such an
option would be open to those individuals who must have their PAN card number
available for Online GST registration and in case of the non-resident
individuals, a GST registration can be granted on the basis of other documents
in the absence of a PAN card number and they will be allotted a unique identity
number. Every person that wants to apply for GST registration must have a PAN
card though.
Source url - http://enterslice.over-blog.com/2018/09/get-more-information-about-gst-registration.html