Compulsory registration under gst turnover limit

Is export of goods required under GST? Is aggregate turnover required under GST? Is GST registration required under reverse charges? As per section 2 a person is liable for registration under if the aggregate turnover for the previous year exceeds Rs.

The GST turnover limit for supplier of services was Rs. However, this exemption limit for service providers remains unchanged i. For normal taxpayers, the GST turnover limit for supplier of goods only was Rs. With the former GST structure, the supplier of goods with an annual turn over above Rs. This limit has been increased to Rs. Lakh of turnover for GST registration is allowed.

LAKHS in a financial year then it is compulsory required to get registered under GST. L for special category states. These limits are applicable to intra state traders and suppliers. Whether the person under same PAN is operating from multiple states, will be required to obtain registration from each such states?

However, in certain cases, compulsory registration under GST is required even if the turnover is less than the prescribed threshold limit. The situations are as follows : Every person who is registered under an earlier law (i.e., Excise, VAT, Service Tax etc.) needs to register under GST , too. GST Registration is Compulsory in some Special cases.

Cr (Rs.lacs for special category states), the. Major decisions are in favour of small and medium size business. Registration under Composition Scheme If the aggregate turnover exceeds the prescribed threshold limit of Rs.

Non Resident taxable persons. Aggregate turnover is a crucial parameter under GST law to find out when a person is liable for GST registration , when a person is eligible for composition scheme and when a person can opt to pay tax at concessional. Persons liable to pay tax under RCM.

In case of inter-state supply of taxable services, if the aggregate turnover of the supplier is less than Rs. Integrated Tax dated 13. REGISTRATION UNDER GST. First criteria are based on aggregate turnover. As per the present GST law, every supplier whose aggregate turnover exceeds lakhs rupees in a financial year is liable to get registered under the.

There are two categories of GST registration requirements under GST – turnover criteria and mandatory registration. A given PAN based legal entity would have one GSTIN per State, that means a business entity having its branches in multiple States will have to take separate State-wise registration for the. Any business whose turnover exceeds the threshold limit of Rs.

Rs lakhs for North Eastern and hill states) will have to register under GST. Compulsory Registration for Service Providers Every service provider who is registered under the Pre- GST laws (i.e., Excise, VAT, Service Tax etc.) needs to register under GST by default. This helps to ease compliance under GST.

The states have an option to opt for a higher limit or continue with the existing limits. The combined turnover is $50000. You need not register for GST if you expect your business turnover to be less than $million for the next months. You may, however, apply for voluntary GST registration after careful consideration. Doing so gives you access to the GST benefits, including legal vendor status and the input tax credit.

A person making taxable supply of goods or services or both and if his turnover cross lakhs in a financial year, he has to compulsory register under GST within days. The limit in special states is lakhs. However, if a person makes supplies in the course of interstate trade he has to be registered under GST. A trader dealing only in exempted goods or where his turnover is below Rs lakh in the financial year, but not engaged in inter-state supplies. According to the new amendment, the composition scheme under GST is change now a GST taxpayer whose turnover is below rupees 1. Generally, the liability to register under GST arises when your turnover exceeds Rs.

GST , earlier GST turnover threshold in India for obtaining this composition scheme was crore but now the limit is 1. But there is certain omission to this general rule, where certain businesses are required to register under GST leaving out their turnover. The application for registration has to be made within days through online mode from the date of person becomes liable to register , or his turnover exceeds the specified limit defined under GST. The GST certificate shall be issued within days from the date of application submission if no discrepancy is found by the authority.

Threshold Limit for Registration in case of Goods- Rs.