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FAQ of GST Registration

Q1. What is Goods and Services Tax (GST) ?

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 supply. FAQ of GST Registration

Q2. Should I need to register under GST if I am a small shopkeeper ?

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.

Q3. I have interstate supply, but my turnover is only 9 lakh do I need GST Registration?

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.

Q4. I have multiple business spread across various state, do I need to take GST Registration in all states

Yes, you need to take GST registration in all states from where you are supplying goods or services.

Q5. What is composition scheme?

Small taxpayers having a turnover of Rs. 75 lacs or less, can opt for composition scheme where the GST is 2% for manufacturers, 5% for restaurants and 1% for other suppliers. The taxpayer can’t take input credit.

Q6. What is HSN Code for goods or SAC code for services ?

The invoices need to contain HSN Code of goods or SAC codes for the services. The list of codes can be found by visiting.

About Setindiabiz

Setindiabiz is an organized team of experienced CA, CS, & Lawyers, duly supported by a pool of trained accountants & paralegal staff that provides quality & affordable compliance services to startups & small businesses in India. The views, statements and recommendations expressed in this article or post are only for the sole objective of providing information, and it does not constitute professional advice or recommendation of the company. Neither the author nor the company or its affiliates accepts any liability for any loss or damage arising from any information in this article or any actions taken in reliance thereon.

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