Goods and Services Tax – GST – By: – CA Akash Phophalia – Dated:- 10-7-2016 Last Replied Date:- 11-7-2016 – 1. Background Model GST law provides for registration of various persons in different situations. This article aims at enlightening readers about the persons who are required to take registration and other provisions related to registration. 2. Threshold Limit In order to provide relaxation to small suppliers it is provided that every supplier shall be liable to be registered under this act in the State form where it makes a taxable supply of goods or services if its aggregate turnover in a financial year exceeds ₹ 9 lacs. However, this limit is ₹ 4 lacs for the persons conducting business in NE states including Sikkim. Here, aggregate turnover means the aggregate value of all taxable and non-taxable supplies, exempt supplies and exports of goods and/or services of a person having the same PAN, to be computed on all India basis and excludes taxes, if any, charged und
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
y of goods of services if its aggregate turnover in a financial year exceeds ₹ 9 lacs. (m) Supplier liable to be registered where it makes a taxable supply of goods of services if its aggregate turnover in a financial year exceeds ₹ 4 lacs. (for NE states including Sikkim) (n) Persons who were already registered under the earlier law subject to point (l) and (m) above. (o) Transferee in case where business is transferred. 4. Following table will make some situations regarding registration more clear – Situation Nature of supply Registration required 1 Taxable inter-state supply Yes 2 Exempted inter-state supply No 3 Intra-state supply (upto ₹ 9 lacs) No 4 Intra-state supply (exceeding ₹ 9 lacs) Yes 5 Intra-state supply (upto ₹ 9 lacs) Exempted inter-state supply of any value No 6 Casual Taxable person Yes 7 Reverse charge – for personal use upto prescribed limit No 8 Reverse charge – for personal use beyond prescribed limit Yes 9 Reverse charge – Other tha
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
egistration is available Every person applying for registration should b having PAN number Non resident person may be granted registration on any other documents as prescribed ion absence of PAN number. Unique Identity number will be allotted to the assessees. 7. Special provisions relating to casual taxable person and non-resident taxable person Registration certificate issued will be valid for 90 days from the date of registration. This period could be further extended to 90 days. Such taxable persons are required to deposit tax in advance on the basis of estimated tax liability. This is just for your reference. It does not constitute our professional advice or recommendation. – Reply By Narayan Mahale – The Reply = Whether for every branch within the state is required to be registered or only a principal place of business would suffice? – Reply By CA Akash Phophalia – The Reply = In case of multiple business verticals, seperarte registration could be taken. This is an optional facil
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =