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GST Registration (Regular)

All that you need to know about GST (Goods and Service Tax)
 
Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.
Registration under GST is state concern. As per Sec 22(1), every supplier shall be liable to be registered under GST, in the State or Union territory, from where he makes taxable supply of goods or services or both, if aggregate turnover in a F.Y exceeds 20 lakhs (Rs. 10 lakhs in case of special category states).Registration is obtained at a place from where goods or services are supplying, although GST is a ‘destination’ based tax. The location of Supplier is relevant for registration.
Where in case of inter-state supply of goods, registration is mandatory irrespective of threshold limit but in case of inter-state supply of services, turnover determines the registration.
Components of GST
CGST is central Goods & Services Tax Collected by the Central Government on an intra-state sale.
SGST is state Goods & Services Tax Collected by the State Government on an intra-state sale.
IGST is Integrated Goods & Services Tax Collected by the Central Government on an inter-state sale.
 
Benefits in GST Registration
Removing cascading effect
Online simplified procedure for registration
Lesser Compliances
Composition scheme for small business
Avail Input Credit on purchase of goods or services and
Hassle-free movement of goods for inter-state or import/export trade

FAQ's on GST Registration (Regular)

India is a federal country where both the Centre and the States have been assigned the powers to levy and collect taxes through appropriate legislation. A dual GST will, therefore, be in keeping with the Constitutional requirement of fiscal federalism

Centre will levy and administer CGST & IGST while respective states/UTs will levy and administer SGST/ UTGST.

Tax is payable by the registered taxable person on the supply of goods and/or services

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