Goods and Service Tax
Goods and Service Tax is applicable on both Goods and Services. Registration under GST is mandatory if your turnover cross threshold limits prescribed by GST Council i.e 10 lacs in specified states and 20 lacs in other states.
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India introduced a consumption or destination based indirect tax system " Goods and Service Tax" which was implemented w.e.f July, 2017 across the country. Goods and service Tax is the biggest tax reform of the country and ignite economy growth through integration of all indirect taxes. GST is applicable on the supply of goods or services or both and eliminate multiple tax system to improve ease of doing business and tax base in Indian economy, it provide a easy flow for input credit and remove the ill effect of cascading of taxes.
Tax payers with an aggregate turnover of Rs. 20 lacs or above would be required to register under GST. For some specified states the threshold limit of turnover would be Rs. 10 lacs.
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|Cases in which registration is compulsory|
The following categories of persons shall be required to be registered compulsorily irrespective of the threshold limit:
Persons making any inter-State taxable supply.
Casual taxable persons.
Persons who are required to pay tax under reverse charge.
electronic commerce operators.
Non-resident taxable persons.
Persons who are required to deduct tax under section 51.
Persons who are required to collect tax under section 52.
Persons who supply goods and/or services on behalf of other registered taxable persons whether as an agent or otherwise.
Input service distributor.
Other person or class of persons as may be notified by the Central Government or a State Government on the recommendations of the Council.
|Documents Required for Registration|
PAN Card of Applicant: Proprietor/Company/Firm
PAN Card of Directors/Partners/owners
Address Proof and Photograph of Proprietor / Directors / Partners
Business registration proof (Incorporation certificate/ Partnership deed/ Partnership registration certificate etc.)
Proof of place of business (Property documents or rent deed, NOC along with latest electricity bill)
Bank statement/ Passbook
List of Goods/Services
Frequently asked questions
What is the time limit for taking a Registration under GST?
A person should take a Registration, within thirty days from the date on which he becomes liable to registration, in such manner and subject to such conditions as is prescribed under the Registration Rules. A Casual Taxable person and a non-resident taxable person should however apply for registration at least 5 days prior to commencement of business.
Can a person without GST registration claim ITC and collect tax?
No, a person without GST registration can neither collect GST from his customers nor can claim any input tax credit of GST paid by him.
Can a person operate in different states with a single Registration?
No. Every person who is liable to take a Registration will have to get registered separately for each of the States where he has a business operation.
Whether the Registration granted to any person is permanent?
Yes, the registration Certificate once granted is permanent unless surrendered, cancelled, suspended or revoked.
What is a taxable supply?
A ‘taxable supply’ means a supply of goods or services or both which is chargeable to goods and services tax under the GST Act.
Whether a person having multiple business verticals in a state can obtain different registrations?
Yes. In terms of the proviso to Sub-Section (2) of Section 25, a person having multiple business verticals in a State may obtain a separate registration for each business vertical, subject to such conditions as prescribed in the registration rules
What are inter-state supplies and intra-state supplies?
where the location of the supplier and the place of supply are in same state it will be intrastate and where it is in different states it will be inter-state supplies.
Is there any provision for a person to get himself voluntarily registered?
Yes, a person, though not liable to be registered may get himself registered voluntarily, and all provisions of this Act, as are applicable to a registered taxable person, shall apply to such person.
Is Permanent Account Number (PAN) mandatory for obtaining a GST Registration?
Yes, GSTN is a PAN Based identification number, every every person shall have a Permanent Account Number in order to be eligible for grant of registration.
Is it mandatory for e-commerce operator to obtain registration?
Yes. The benefit of threshold exemption is not available to e-commerce operators and they would be liable to be registered irrespective of the value of supply made by them.
Is a job worker required to take registration?
Yes, as job work is a service, the job worker would be required to obtain registration if his aggregate turnover exceeds the prescribed threshold.
What are the limits for composition scheme under GST?
Small taxpayers with an aggregate turnover in a preceding financial year up to Rs. One Crore (75 lakhs for special category States – except Jammu & Kashmir and Uttarakhand) shall be eligible for composition levy. This scheme is basically for suppliers of goods and restaurant service providers only
What are the rates of tax for composition scheme?
The composition rates (combined rate under CGST and SGST/UTGST) are 1%, 2% and 5% for normal supplier (trader), manufacturer and restaurant service respectively.
Can the registered person under composition scheme claim input tax credit?
No, registered person under composition scheme is not eligible to claim input tax credit.
How much time does it take to get a GST Registration.
After submission of application for registration it take 4 to 7 working days.