What is the time limit for taking a Registration under GST?

What is the time limit for taking a Registration under GST?
Question 7
Bill
Registration
Faq On GST (2nd Edition) Dated 31.3.2017
Q 7. What is the time limit for taking a Registration under GST?
Ans. A person should take a Registration, within thirty days from the date on which he becomes liable to registration, in such manner and subject to such conditions as is prescribed under the Registration Rules. A Casual Taxable person and a non-resident taxable person should however a

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Which are the cases in which registration is compulsory?

Which are the cases in which registration is compulsory?
Question 6
Bill
Registration
Faq On GST (2nd Edition) Dated 31.3.2017
Q 6. Which are the cases in which registration is compulsory?
Ans. As per Section 24 of the CGST/SGST Act, the following categories of persons shall be required to be registered compulsorily irrespective of the threshold limit:
i) persons making any inter-State taxable supply;
ii) casual taxable persons;
iii) persons who are required to pay tax un

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What is aggregate turnover?

What is aggregate turnover?
Question 5
Bill
Registration
Faq On GST (2nd Edition) Dated 31.3.2017
Q 5. What is aggregate turnover?
Ans. As per section 2(6) of the CGST/SGST Act “aggregate turnover” includes the aggregate value of:
(i) all taxable supplies,
(ii) all exempt supplies,
(iii) exports of goods and/or service, and,
(iv) all inter-state supplies of a person having the same PAN.
The above shall be computed on all India basis and excludes taxes charged under th

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Who are the persons liable to take a Registration under the Model GST Law?

Who are the persons liable to take a Registration under the Model GST Law?
Question 4
Bill
Registration
Faq On GST (2nd Edition) Dated 31.3.2017
Q 4. Who are the persons liable to take a Registration under the Model GST Law?
Ans. As per Section 22 of the CGST/SGST Act 2017, every supplier (including his agent) who makes a taxable supply i.e. supply of goods and / or services which are leviable to tax under GST law, and his aggregate turn over in a financial year exceeds the th

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What will be the effective date of registration?

What will be the effective date of registration?
Question 3
Bill
Registration
Faq On GST (2nd Edition) Dated 31.3.2017
Q 3. What will be the effective date of registration?
Ans. Where the application for registration has been submitted within thirty days from the date on which the person becomes liable to registration, the effective date of registration shall be the date on which he became liable for registration.
Where an application for registration has been submitted by th

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What is advantage of taking registration in GST?

What is advantage of taking registration in GST?
Question 1
Bill
Registration
Faq On GST (2nd Edition) Dated 31.3.2017
3. Registration
Q 1. What is advantage of taking registration in GST?
Ans. Registration under Goods and Service Tax (GST) regime will confer following advantages to the business:
• Legally recognized as supplier of goods or services.
• Proper accounting of taxes paid on the input goods or services which can be utilized for payment of GST due on s

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When exemption from whole of tax collected on goods or services or both has been granted absolutely, can a person pay tax?

When exemption from whole of tax collected on goods or services or both has been granted absolutely, can a person pay tax?
Question 25
Bill
Levy of and Exemption from Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 25. When exemption from whole of tax collected on goods or services or both has been granted absolutely, can a person pay tax?
Ans. No, the person supplying exempted goods or services or both shall not collect the tax in excess of the effective rate.
–
Statute

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Does the GST Law empower the Government to exempt supplies from the levy of GST?

Does the GST Law empower the Government to exempt supplies from the levy of GST?
Question 24
Bill
Levy of and Exemption from Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 24. Does the GST Law empower the Government to exempt supplies from the levy of GST?
Ans. Yes. In the public interest, the Central or the State Government can exempt either wholly or partly, on the recommendations of the GST council, the supplies of goods or services or both from the levy of GST either abs

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What are the penal consequences if a person opts for the composition scheme in violation of the conditions?

What are the penal consequences if a person opts for the composition scheme in violation of the conditions?
Question 23
Bill
Levy of and Exemption from Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 23. What are the penal consequences if a person opts for the composition scheme in violation of the conditions?
Ans. If a taxable person has paid tax under the composition scheme though he was not eligible for the scheme then the person would be liable to penalty and the provisio

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How to compute ‘aggregate turnover’ to determine eligibility for composition scheme?

How to compute ‘aggregate turnover’ to determine eligibility for composition scheme?
Question 22
Bill
Levy of and Exemption from Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 22. How to compute 'aggregate turnover' to determine eligibility for composition scheme?
Ans. The methodology to compute aggregate turnover is given in Section 2(6). Accordingly, 'aggregate turnover' means value of all outward supplies (taxable supplies+exempt supplies+exports + inter-state supplie

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Can the customer who buys from a registered person who is under the composition scheme claim composition tax as input tax credit?

Can the customer who buys from a registered person who is under the composition scheme claim composition tax as input tax credit?
Question 20
Bill
Levy of and Exemption from Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 20. Can the customer who buys from a registered person who is under the composition scheme claim composition tax as input tax credit?
Ans. No, customer who buys goods from registered person who is under composition scheme is not eligible for composition inpu

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Who are not eligible to opt for composition scheme?

Who are not eligible to opt for composition scheme?
Question 18
Bill
Levy of and Exemption from Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 18. Who are not eligible to opt for composition scheme?
Ans. Broadly, five categories of registered person are not eligible to opt for the composition scheme. These are:
(i) supplier of services other than supplier of restaurant service;
(ii) supplier of goods which are not taxable under the CGST Act/SGST Act/UTGST Act.
(iii) an

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Can composition scheme be availed of by a manufacturer and a service supplier?

Can composition scheme be availed of by a manufacturer and a service supplier?
Question 17
Bill
Levy of and Exemption from Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 17. Can composition scheme be availed of by a manufacturer and a service supplier?
Ans. Yes, a manufacturer can opt for composition scheme generally. However, a manufacturer of goods, which would be notified on the recommendations of the GST Council, cannot opt for this scheme. This scheme is not available f

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Will a taxable person, having multiple registrations, be eligible to opt for composition scheme only for a few of registrations?

Will a taxable person, having multiple registrations, be eligible to opt for composition scheme only for a few of registrations?
Question 16
Bill
Levy of and Exemption from Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 16. Will a taxable person, having multiple registrations, be eligible to opt for composition scheme only for a few of registrations?
Ans. All registered persons having the same Permanent Account Number (PAN) have to opt for composition scheme. If one register

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A person availing composition scheme during a financial year crosses the turnover of 50 Lakhs during the course of the year i.e. say he crosses the turnover of 50 Lakhs in December? Will he be allowed to pay tax under composition scheme for the

A person availing composition scheme during a financial year crosses the turnover of 50 Lakhs during the course of the year i.e. say he crosses the turnover of 50 Lakhs in December? Will he be allowed to pay tax under composition scheme for the remainder of the year i.e. till 31st March?
Question 15
Bill
Levy of and Exemption from Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 15. A person availing composition scheme during a financial year crosses the turnover of ₹ 50 L

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What are the rates of tax for composition scheme?

What are the rates of tax for composition scheme?
Question 14
Bill
Levy of and Exemption from Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 14. What are the rates of tax for composition scheme?
Ans. There are different rates for different sectors. In normal cases of supplier of goods (i.e. traders), the composition rate is 0.5 % of the turnover in a State or Union territory. If the person opting for composition scheme is manufacturer, then the rate is 1% of the turnover in

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What is the threshold for opting to pay tax under the composition scheme?

What is the threshold for opting to pay tax under the composition scheme?
Question 13
Bill
Levy of and Exemption from Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 13. What is the threshold for opting to pay tax under the composition scheme?
Ans. The threshold for composition scheme is ₹ 50 Lakhs of aggregate turnover in the preceding financial year. The benefit of composition scheme can be availed up to the turnover of ₹ 50 Lakhs in current financial year.
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Can any person other than the supplier or recipient be liable to pay tax under GST?

Can any person other than the supplier or recipient be liable to pay tax under GST?
Question 12
Bill
Levy of and Exemption from Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 12. Can any person other than the supplier or recipient be liable to pay tax under GST?
Ans. Yes, the Central/State government can specify categories of services the tax on which shall be paid by the electronic commerce operator, if such services are supplied through it and all the provisions of the Act

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What will be the implications in case of receipt of supply from unregistered persons?

What will be the implications in case of receipt of supply from unregistered persons?
Question 11
Bill
Levy of and Exemption from Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 11. What will be the implications in case of receipt of supply from unregistered persons?
Ans. In case of receipt of supply from an unregistered person, the registered person who is receiving goods or services shall be liable to pay tax under reverse charge mechanism.
–
Statute, statutory provis

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Are all goods and services taxable under GST?

Are all goods and services taxable under GST?
Question 8
Bill
Levy of and Exemption from Tax
Faq On GST (2nd Edition) Dated 31.3.2017
Q 8. Are all goods and services taxable under GST?
Ans. Supplies of all goods and services are taxable except alcoholic liquor for human consumption. Supply of petroleum crude, high speed diesel, motor spirit (commonly known as petrol), natural gas and aviation turbine fuel shall be taxable with effect from a future date. This date would be no

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