What is GST?

The full form of GST is Goods and Service Tax. It is an indirect tax introduced in India from 1st July 2017. It is a value-added tax levied on the manufacture, sale, and consumption of goods and services. Alternatively, GST can be defined as a destination based tax where the tax is collected on the place where the ultimate consumption is done, no matter how long the journey of good otherwise had been!! At every stage of supply, credit for, the taxes already paid on purchases or inward supply is allowed. And, the final payout occurs from the pocket of the consumer of goods or service. There are differential rates prescribed by Central Board of Indirect Tax & Customs (CBIC). There is also a GST council set up to make and implement the by laws. Here are some of the key changes which GST has brought to the old taxes system :

• Abolishing Cascading effect i.e. tax on tax.

• Removing the differentiation between goods and service, the only concept is supply

• Bringing harmony to the overall economy by concepts like E waybill

• TDS and TCS introduced in the indirect taxes

• Single window clearance

• Freedom from multiple taxations

• Increased transparency and so on

Who is required to register under GST?

For registration under Goods and Service tax in India, the government has prescribed an exhaustive list. Which can be better understood in these two parts

Suppliers with an annual aggregate turnover exceeding Rs.20 Lakhs – including J & K(From 1 April 2019 this limit has been revised as For Supplier of goods – Rs 40 Lakhs For Supplier of services – Rs 20 Lakhs) Rs.10 Lakhs other North-Eastern States except J & K. Note: Turnover shall be sum total of all sales whether intrastate, interstate, export, exempted or NIL rated etc

CTP dealing in handicrafts shall get registration if turnover exceeds Rs 20 lakh threshold

Those selling through e-commerce operator – 20 lakh condition apply

Documents Required for Registration:

• Pan Card and Aadhaar card copy.

• Photo copy of Proprietor/Partners/directors.

• Address Proof for Place of Business.

• Rental Agreement or Lease Agreement or Sale Deed.

• Bank Details in the name of Business/Cancelled cheque.

Application for Filing Clarifications

If the user receives notice seeking clarifications for the details furnished while registration, he can respond to the notice by following the below mentioned steps:

• Visit the GST portal or click on the link https://www.gst.gov.in/

• Then log in using the valid credentials,

• After login go for Services > Registration > Application for Filing Clarification,

• Search for the Notice using the Reference Number of Notice or Application Reference Number (ARN) of the user.

• Now the user has the option of first Editing or modifying the existing information entered and second to provide additional information in response to the queries raised by the department in the notice.

• User can submit with the use of DSC or E-sign as eligible for the user

• After the successful submission, the success message is displayed on the screen.

GST Registration