Q. What is GST and GSTIN?
GST stands for Goods and Services Tax which is scheduled for manufacturing or
trading or service providing across India. When a business gets registered under GST it receives a 15
digit number called Goods and Services Tax Identification Number (GSTIN). It is a PAN based number which is
required to be identified if the business is registered under GST or not.
Q. Does GST applies to all business?
If your annual turnover is more than INR 20 lakhs, then you must get registered under GST.
Q. Do I need to register under GST if my annual turnover is INR 8 lakhs and my business operates in Assam?
For northeastern states of India, getting registered under GST is mandatory for businesses with an annual turnover exceeding INR 10 lakhs. So, in your case, it is not mandatory.
Q. Do I need to apply for fresh registration under GST, if I am already registered under RVAT (Rajasthan Value Added Tax)?
From April, 2017, all businesses must get registered under GST. If you are registered under RVAT then initially you will be transitioned to GST and will get an initial GSTIN.
This initial will be replaced by final registration done by you.
Q. Do I need PAN to apply for GST registration?
Yes, it is mandatory to have a PAN card to get registered under GST.
Q. Earlier I had opted for composition scheme under VAT. Is the concept of composition scheme still there under GST?
Yes, it will be.
Q. Is there any time Limit for GST Registration?
The existing taxpayers will be allocated with a provisional GSTIN which will be finally
replaced by the final GSTIN. For the new entities, they must register under GST
within 30 days of exceeding the prescribed turnover limit.
Q. How will business returns be filed under GST Law?
The business returns needs to be filed thrice in a month and one annual return which will be the
consolidated return of all the monthly returns. To get more information, contact our GST experts immediately.