GST Registration |
What if not registered |
Benefits |
Documents required |
After Registration Composition |
After Registration Normal |
Updates |
After Registration Composition
Responsibilities for Composition Taxable Person under GST
1 Promptly display the registration certificate at the principal place of business
2 Write "Composition Taxable Person" on the shop board.
3 Display GST number on shop name, letter, business document, bill, invoice etc.
4 Daily: Bill for every sale as per law, make vouchers for purchases, expenses etc.
5 Maintain records for all purchases, sales, stocks, expenses, payments and receipts
6 Fill your GST return before 10th day of the end of every quarter, the tax will be 1% of the total sales made within the quarter
Apr-June 10 July
Jul-Sep 10 Oct
Oct-Dec 10 Jan
Jan-Mar 10 Apr
7 Fill in the annual return after the end of every year
8 There is a fine of Rs 200 per day for delay in filing GST returns.
9 Use a separate bank account for business.
10 Give your GST number to all the dealers from whom you buy your products
11 You are not allowed to sell outside your state or online
12 Try to buy goods only from the registered GST dealer, otherwise, create a self bill and pay tax at the rate of 18%.
13 Make bills of supply as per law
14 Do not sell goods worth 50,000 rupees or more on one bill
* This list is not exhaustive and varies. Stay up to date with new laws and regulations
GST Registration
All business which are required to be registered under GST must get themselves register within 30 days of commencement of business.
If the aggregate turnover of a business exceeds the below-mentioned limits, then the business must be compulsorily registered under GST
1. For Service Providers who belongs to
a. Normal states of India = Rs 20 Lakhs
b. Special states of India = Rs 10 Lakhs
2. For Supplier of Goods who belongs to
a. Normal states of India = 40 Lakhs
b. Special states of India = 20 Lakhs
3. Exceptions of above
a. Kerala & Telangana For Goods & Services Both = 20 lakhs
b. J&K and Assam for Goods = 40 Lakhs, For service = 20 Lakhs
Meaning under GST
i. Special States: Arunachal Pradesh, Assam, Jammu & Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh, Uttarakhand
ii. Normal States : All states other than Special Category States
However, certain category of business are required to compulsorily get registered under GST irrespective of their states or turnover
1. Inter state suppliers
2. Casual Taxable persons
3. Persons taxable under the reverse charge basis
4. Non-resident taxable persons
5. Persons required to deduct TDS under GST
6. Persons required to deduct TCS under GST
7. Input Service Distributors
8. Persons making a sale on behalf of someone else whether as an Agent or Principal.
9. Every E-commerce Operator who provides a platform to suppliers to make supply through it.
10. Suppliers who supply goods through E-commerce operator who is liable to collect tax at source.
11. Online Service Providers providing service from outside India to a non-registered person in India.
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