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GST Registration
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GST Registration
GSTIN is a 15 alphanumeric digit unique identification number given to each GST taxpayer.
Who Should Register Under Gst ?
AllIndividuals or entity registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)
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.
Threshold Limit Under GST ?
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.
Special Category States :
Under GST, the following are listed as special category states (A) Arunachal Pradesh (B) Assam (C) Jammu and Kashmir (D) Manipur (E) Meghalaya (F) Mizoram (G) Nagaland (H) Sikkim (I) Tripura (J) Himachal Pradesh (K) Uttarakhand
Multiple GST Registrations
More than one GSTIN can be taken on a single PAN. For instance, when an entity has business in multiple states, it can take GST registration in each state.
A business may have business verticals i.e. distinguishable components engaged in business activities different from each other. In a single business there can be a manufacturing and trading units which can be considered as business verticals.
In this case, more than one registration can be obtained even when the Head Office and branches are located in the same state.
Penalty For Non-Registeration ?
An offender not paying tax or making short payments (genuine errors) has to pay a penalty of 10% of the tax amount due subject to a minimum of Rs.10,000.
The penalty will at 100% of the tax amount due when the offender has deliberately evaded paying taxes.