GST: 10 POINT SERIES ON REGISTRATION
By: – Puneet Agrawal
Goods and Services Tax – GST
Dated:- 25-10-2016
* In any tax system, registration is a fundamental requirement as it grants unique identity to the business and facilitates undertaking prescribed compliances.
* Provisions related to registration are contained in Chapter-VI of the Central Goods and Services Tax Act (“CGST Act”)/ State Goods and Services Tax Act (“SGST Act”). Even the Integrated Goods and Services Tax Act (“IGST Act”) vide Section 27 borrows the provisions relating to registration as contained in CGST Act.
* A person may apply for registration under following two scenarios:
* Compulsory registration: Schedule III of the CGST Act/ SGST Act prescribe
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ition of earlier law is left blank in the Act. Thus as of now it is not clear that what all acts would be covered within the ambit of earlier law.
Person having multiple business verticals in a State may apply for separate registration for each vertical. However it is not clear that whether the separate registration awarded to different verticals would be treated as separate taxable person for the purpose of composition scheme also.
Tax payer applied for registration would be allotted 15 digits PAN based Goods and Services Tax Identification Number (“GSTIN”). various digits in GSTIN will denote:
State Code
Entity code
*
Check digit
*
In case of failure to obtain registration, without prejudice to other actions, there is a lia
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