The long-awaited goods and services tax is a reality now, which subsumes most of the indirect taxes in it. While tax base will increase the complication of compliance is set to reduce. Now the tax is not on manufacturing, sale or provision of service but is on supply. The system of GST is such where the credit of the GST paid on Inward Supply can be set off towards the GST on outward supply where the chain of tax credit needs to remain intact. Under the new tax regime, all persons involved in the supply of goods or services are required to obtain registration of GST. Those who are not registered under GST shall not be allowed to collect GST from customers or claim input tax credit (ITC) on inward supply. GST Council has prescribed 20 Lakhs of turnover to be the threshold limit for registration under GST. However, for
Existing Tax Payers of Excise, Vat & Service tax need to migrate to GST
All start-up engaged in any trade or business will eventually require registration
Monthly Filing of Various Returns and Reconciliation Service
PAN card of individual
ID proof and address proof of Individual
Passport size Photograph of applicant
Bank Details - Copy of cancelled cheque or first page of Pass Book or first page of recent bank statement
Registered Office Documents- Copy of electricity bill/landline bill, water Bill etc in the name of applicant or in case the premises
Any other license obtained from
List of goods or services along with HSN Code or SAC Code.
Digital signature of applicant or Aadhar number should be linked with mobile number to get OTP
Similarly, the HUF and Individual Coparcener of the family have different PAN Numbers.
VOLUNTARY REGISTRATION: A person can obtain registration of GST even if a person
|1||When aggregate turnover exceeds Rs. 20 Lakhs (Rs. 10 Lakhs for
|2||Taxpayer of any existing tax system which is being replaced with GST (VAT, Excise Laws, Service Tax Laws) irrespective of the threshold limit.|
|3||Having supplies between two or more states (Inter State Supplies e.g. from Delhi to Karnataka)|
|4||If the tax payer has multiple business lines/ verticals in one state|
|5||A Casual taxable person making taxable supply|
|6||A person who
|7||A person required to deduct GST at source|
|8||Non-resident taxable person making taxable supply|
|9||An agent of a taxable person|
|10||Input service distributor|
|11||Person who supply goods or services through E Commerce operators|
|12||Every e-commerce operators|
|13||A person supplying services of online data retrieval services from outside India to a person in India|
It is a destination based Indirect tax which is levied on a supply of Goods or Service. The GST is lived at the time and place of
GST is exempted until the turnover of your business is not equal to or more than 20 lacs all over India. However, for businesses of Northeast states the threshold turnover is Rs. 10 lacs only.
For persons doing interstate supply, there is no exemption, and you need to apply for GST registration even you an interstate supply of Rs. one.
Yes, you need to take GST registration in all states from where you are supplying goods or services.
Small tax payers having
The invoices need to contain HSN Code of goods or SAC codes for the services. The list of codes can be found by visiting