GST for Registered Taxable Persons
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Temporary GST Registrations for Casual Taxable Person
As per the GST Act, casual taxable persons are also required to obtain GST registration and file GST returns. “Casual taxable person” represents a person who occasionally undertakes transactions that include the supply of goods or services or both in the course of business, whether as principal, agent or in any other capacity, in a place where he has no fixed place of business. A casual taxable person must go for GST registration irrespective of annual sales turnover.
Casual taxable persons require GST registration under a special category at least 5 days prior of initiating the undertaking business. An application can be filed online along with identity proof, address proof and photographs of the promoters. A transaction number would be generated after the filing of an application for casual taxable person GST registration is filed, GST deposit must be made by the taxpayer by using the transaction number to obtain casual taxable person GST registration in India.
GST for Registered Taxable Persons
Following Returns are to be submitted on Monthly basis by various category user
|Category Of User||Return Form No.||Particulars|
|Registered taxable person||GSTR-1||Detail of outward supply made of goods/services|
|GSTR-2||Detail of inward supply made of goods/servcies|
|GSTR-3||Detailed summary of total sale and purchase|
|GSTR-3B (Applicable till March 2017)||Summary of total sale and purchase and tax payment|
What needs to file in Returns?
Frequently Asked Questions
Goods and Service tax is a combined version of indirect taxes levied on the supply of both Goods as well as services. It accrues on the basis of place of consumption means place of supply. Hence it can also be termed as a destination based tax. Our expert at unfolding tax will be happy to advise you to GST registration in Delhi
Registration under GST is a simple process. A registration form needs to be submitted online GST portal with requisite KYC documents, Bank proof, and place of business proof. Jurisdiction officer scrutinizes your documents online and if satisfactory, provides you with registration certificate and registration no., named as GSTIN. Our expert at unfolding tax will be happy to advise you to GST registration in Delhi
Following categories of persons are required to get registered under GST
- A business whose turnover in a financial year exceeds Rs 20 Lakhs ( For North eastern and Hill states it is Rs 10 Lakh in a financial year)
- If someone who wishes to make interstate supply then the above threshold is not applicable, that person has to get registered under GST.
- If someone is required to pay tax under RCM ( Reverse Charges Mechanism)
- Input service distributor.
- Every E-commerce operator.
All compliances as present needs to be submitted online through portal GST portal. However where circumstances require for physical submission then state wise GST departments are set up, one has to visit its jurisdiction GST officer for the same. Our expert at unfolding tax will be happy to advise you to GST registration in Delhi
IGST, CGST & SGST these three are the basis by which GST is allocated state wise as well as in hands of central Government. In India is a federal country needs to levy collect taxes both at the end of the state as well as centre. CGST (Central Goods and Services Tax) and IGST (Integrated Central and Services Tax ) Will be collected by Central Government and SGST ( State Good and Services Tax) will be collected by state Government. Our expert at unfolding tax will be happy to advise you to GST registration in Delhi
- Under GST Whose turnover is above 1.5 crores and below 5 crores shall use 2 digit HSN Code, whose turnover is 5 crores and above will use four digit HSN code.
- Taxpayers whose turnover is below 1.5 crores are not required to mention HSN Code in their invoices.
- For services it classification is Service Accounting Code ( SAC)
- Under composition scheme one needs to submit summarized quarterly returns instead of monthly returns applicable for regular GST dealer.
- For services, the only opportunity is available for restaurant service providers who can opt for registration under composition scheme.
- Tax rates, applicable for a person registered under composition scheme are for manufacturer 1%, 2.5 % for restraint sector and 0.5 for the person supplying goods.
- However, once person registered under composition scheme under GST regime then he is not eligible for taking ITC (input tax credit under available on Purchases)
- Reverse charge by it names implies â€“ charge i.e. GST is payable reverse i.e. by buyer instead of Supplier.
- In reverse charge mechanism, GST is payable by buyer if he purchased goods and/or services from unregistered Dealer
- CGST input tax can be set of against CGST and IGST, not against SGST
- SGST input tax can be set of against SGST and IGST, not against CGST
- IGST input tax can be set of against IGST as well CGST and SGST.
So in case of payment of challan in cash form one has to take care that which type of tax payment needs to be done .i.e either SGST , CGST or IGST.