In the GST regime, manufacturers or businesses whose annual turnover exceeds Rs. 40 lakhs (and Rs 10 lakhs for hill states and northeastern states) are expected to register as a regular taxable person. For some businesses, registration under GST is compulsory.
Here are some important points while registering for GST for an individual
Initially, the GST Act states that any business or person with an annual turnover of over Rs 20 lakhs must have GST registration. This threshold was held at Rs 10 lakhs for the specific category requirements. But, from 1 April 2019 onwards, this purpose was enhanced to Rs 40 lakhs for the sale and purchase of goods. No modifications were executed to the purposes for service providers. The states were provided options to either opt for new limits or to proceed with the preceding ones. Therefore, while applying for GST for specific consultants, take note of the aggregate turnover measures.
Even if you do not relate based on the above-mentioned gross turnover measures, you should have GST registration if you fall into any of the following groups
If you do not hold a fixed position to do business but occasionally provide goods and services, you will fall into this section. For instance, if you choose to market fireworks temporarily during Diwali, you will be a casual taxable person. In this instance, you need to have GST for individuals, irrespective of your gross income.
If you hardly supply goods or services to recipients with no fixed market place or residence in India, you will come into this division. In this instance, you need to have a unique GST registration, irrespective of your gross or aggregate income.
A person will fall into this level if they get a taxable supply of goods or services on behalf of another business or person.
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