GST being tax on the event of ‘supply’, each and every supplier needs to register. For small business having the all India aggregate turnover below 20 lakh and 10 lakh if the business is in Arunachal Pradesh, Jammu and Kashmir, Assam, Uttarakhand, Mizoram, Manipur, Sikkim, Meghalaya, and Tripura.
The small businesses having the turnover below a threshold limit can and voluntarily option to register. The aggregate turnover included the supplies made by him on behalf of the principals also excludes the value of job-worked goods if he is the job worker.
But the persons who are engaged exclusively in a business of supplying goods and services that are not liable to tax wholly exempt from the tax or else an agriculturist to extent of supply of produce out of cultivation of land aren’t liable to register under GST.
Who needs to get GST registration?
If any person that fulfills the below conditions need to get the GST registration compulsorily:
- Having the annual aggregate turnover in the state which is above the threshold limit of 20 Lakhs
- Having operations in multiple or different states
- Presently registered under any the existing indirect tax regimes like: VAT, Service Tax Laws and Excise Laws irrespective of threshold limit
- Having multiple or different business verticals in only one state
- Non-resident taxable persons and Casual taxable persons (Occasionally make the supply of services and goods as the principal in the taxable territory and where GST applies but you do not have the fixed place of business in India)
- Making any Inter State supply of goods and (or) or services
- Required to deduct the tax at source
- Working as the E Commerce Operator or Aggregator
- Required to pay the tax under reverse charge mechanism
- Person supplying through the e-commerce Aggregator or operator
- Working as Input service distributor
- Engaged in supply as the agent on behalf of the other registered taxable persons
- Supplying online information also database retrieval or access services from the place outside India to a person in India, other than the registered taxable person
Here are the rules for GST registration:
- Registration is valid for 90 days
- It can further extend by 90 days
- This tax deposited can use like input credit
An advance deposit of the tax liability for a period of registration must make. Additional tax can deposit if extension of the registration is sought