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Every supplier shall be liable to be registered under this Act in the State or UT or any other special States, from where he makes a taxable supply of goods or services or both-
If his aggregate turnover in a financial year exceeds 40 lakh rupees and 20 lakhs for special states.
Where such a person makes taxable supplies of goods or services, he shall be liable to be registered if his aggregate turnover in a financial year exceeds ten lakh rupees.
Note:
Every person who is registered or holds a license under any existing law immediately preceding the appointed day. It shall be liable to be registered under this Act with effect from the appointed day.
Threshold limit for registration
- Registration is required to be obtained by the supplier of both goods and services
- in the State or the UT or any other special states from where he makes the taxable supply
- if his aggregate turnover in a financial year exceeds a specified threshold limit.
Registration -Advantages:
• Proper accounting of taxes paid on the ITC that can be utilized for payment of GST due to the supply of goods or services or both by the business.
• authorized to collect tax and pass on the credit of the taxes paid on the goods or services supplied to purchasers or recipients.
• to enjoy various other benefits and privileges under the GST laws
Who Should Register for GST?
• Individuals registered under the Pre-GST law
• Businesses with turnover exceed the threshold limit of Rs. 40 Lakhs
• CTP (Casual taxable person) / NR (Non-Resident) taxable person
• Agents of a supplier & ISD (Input service distributor)
• A person is paying tax under the RCM (reverse charge mechanism)
• The person who supplies through e-commerce aggregator
• Every e-commerce aggregator
Exceptions to this exemption are as follows:
- persons who are required to take registration compulsorily under section 24 of the CGST Act.
- Persons who are engaged in making supplies of ice cream and other edible ice.
- Persons engaged in making intra-State supplies. Inter-State supplies of goods are nevertheless liable to compulsory registration and are already covered in exception (a) above.
- A person who has opted for voluntary registration or such registered persons who intend to continue with their registration under the CGST Act.
Documents Required for GST Registration
• Incorporation certificate
• PAN of the Applicant
• Aadhaar card
• any Identity and Address proof of Promoters
• any address proof of the place of business
• Bank Account statement
• Letter of Authorization/Board Resolution for Authorized
Procedure for registration
Before applying for registration, every person liable to get registered and a person seeking voluntary registration shall declare his:
Step 1 – PAN number, Mobile Number and Email are validated.
Step 2 – PAN validated online by Common Portal from CBDT database
Step 3 – Mobile number and email verified through a one-time password sent to it.
Step 4 – TRN is generated.
Step 5 – Log in with TRN
Step 6 – Submit Business Information
Step 7 – Submit Promoter Information
Step 8 – Submit Authorized Signatory Information
Step 9 – Principal Place of Business
