Article
Who is required to register for GST in India?
GST OR Goods or Services Tax is an indirect tax that was introduced in India on 1st July 2017. A taxable person under GST is an individual who carries out any sort of business in any part of India and is required to be registered under GST Act. Any individual who engages in trade and commerce in India, will be taxed under GST in this country.
Individuals, HUFs, companies, firms, LLPs, an AOP/BOI, any corporation or Government company, body corporate incorporated under laws of foreign country, co-operative society, local authority, government, trust, artificial juridical person are all covered under GST.
Here are the following Taxpayers who are required to register under GST: -
- Any business that has an annual turnover of more than Rs. 40 Lakhs is supposed to register under GST, the taxpayers who are from the North Eastern states or the hilly regions are required to register under GST if their annual turnover is over Rs. 20 Lakhs.
- Any business that was registered under Excise, VAT, Service Tax etc. is required to be registered under GST too.
- Any taxpayer who does inter-state supply of goods
- Supplier’s agents
- Any non-resident taxable person engaged in taxable supply
- Casual taxable person engaged in taxable supply
- Taxpayers who are input service providers
- Input Service Distributors
- When a business which is registered has been transferred to someone/ demerged, the transferee shall take registration with effect from the date of transfer.
- E-commerce operator or aggregator
- Person who supplies via e-commerce aggregator
- Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person
- The person liable to deduct tax at source (TDS)
Who is a Casual Taxable Person?
A Casual Taxable Person is the one who occasionally supplies goods and/or services in a territory where GST is applicable but he does not have a fixed place of business.
Who is a non-resident taxable person?
A non-resident taxable person is the one who occasionally supplies goods/ services in a territory where GST applies, but he does not have a fixed place of business in India.
Who is are Input Service Distributors?
Input Service Distributor is an office of the supplier of goods/ services that receives tax invoices on the receipt of input services and issues tax invoices for the purpose of distributing the credit of CGST/ SGST/ IGST paid on the given services to your branch with same PAN.
