Service Providers :

Any person or entity who provides service of more than Rs.20 lakhs in aggregate turnover in a year is required to obtain GST registration. In special category states, the GST turnover limit for service providers has been fixed at Rs.10 lakhs.

Goods Suppliers :

Any person or entity who provides exclusive supply of goods of more than Rs.40 lakhs in aggregate turnover in a year is required to obtain GST registration. To be eligible for the Rs.40 lakhs turnover limit, the supplier must satisfy the following conditions:

(A) Should not be providing any services.

(B) The supplier should not be engaged in making intra-state (supplying goods within the same state) supplies in the States of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Telangana, Tripura and Uttarakhand.

(C) Should not be involved in the supply of ice cream, pan masala or tobacco.

If the above conditions are not met, the supplier of goods would be required to obtain GST registration when the turnover crosses Rs.20 lakhs and Rs.10 lakhs in special category states.

Who Should Register Under Gst ?

• ✶ Previous GST-Law Converted Taxpayer

  AllIndividuals or entity registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)

• ✶ Service Provider crossing threshold Limit

  If turnover by providing of services is crossing Rs. 20 lakh in a year then GST Registration is mandatory. For the Special Category States, the limit is Rs. 10 lakh in a year.

• ✶ Goods Supplier crossing threshold limit

  If turnover by supplying of goods is crossing Rs.40 lakh in a year then GST Registration is mandatory. For the Special Category States, the limit is Rs. 20 lakh in a year.

  In case of supply of goods or services, in events/exhibitions, and not have a permanent place of doing business, GST is charged on the basis of an estimated turnover of 90 days. The validity of the Registration is also 90 days.

• ✶ Non-Resident Taxpayer

  In case of supply of goods or services by NRI, who does not have a place of business in India, GST Registration is mandatory. The validity of the Registration is also 90 days.

• ✶ Input Service Distributor

  All Agents of a supplier & Input service distributor mjust register under GST to earn benefits of Input Tax Credit

• ✶ Reverse Charge Mechanism ( RCM )

  Businesses paying tax under the reverse charge mechanism

• ✶ E-commerce Sellers

  Entities involving in e-commerce or supply of goods and services via e-commerce operators

• ✶ E-commerce Portal

  Every e-commerce aggregator ( example : Amazon , Flipkart )

• ✶ Online Portal

  Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person

• ✶ Voluntary

  Voluntary GST Registration

Composition Scheme

(1) The Supplier of goods being manufacturers, retailers having an annual turnover of up to Rs 1.5 crore, except: -

Manufacturer of ice cream, pan masala, or tobacco -

A person making inter-state supplies -

Businesses which supply goods through an e-commerce operator.

(2) The Supplier of services having the aggregate annual turnover up to Rs 50 lakhs.

Conditons Of Composition Scheme

(A) Composition dealers are required to file only one quarterly return (instead of three monthly returns filed by normal taxpayers).

(B) No Input Tax Credit can be claimed by a dealer opting for composition scheme (C) The dealer cannot supply GST exempted goods

(D) The taxpayer has to mention the words ‘composition taxable person’ on every notice or signboard displayed prominently at their place of business.

(E) The taxpayer has to mention the words ‘composition taxable person’ on every bill of supply issued by him.

(F) They cannot issue taxable invoices, i.e., collect tax from customers and are required to pay the tax out of their own pocket.