Should you register for GST?

A ‘taxable person’ under GST is s a person who carries on any business at any place in India and who is registered or required to be registered under the GST Act. Any person who engages in economic activity including trade and commerce is treated as a taxable person. 

• Casual taxable persons.
• Non-resident casual taxable persons.
• Persons making any inter-state taxable supplies.
• Agents acting on behalf of a registered taxpayer.
• E-commerce operators.
• TDS/TCS deductors.
• Persons conducting business in a state other than the one they are located in.
• Persons who sell products on e-commerce sites such as Amazon and Flipkart.
• Individuals working in the import-export industry.
• Persons subject to reverse charge taxation.
• Businesses registered under previous taxes such as VAT, excise, and service tax.
• Individuals running an aggregator company.
• Input Service Distributors.
• OIDAR (Online Information Database Access and Retrieval) service providers in India.

Documents needed for GST Registration

• PAN Card 
• Proof of Business Registration
• Proof of Identity 
• Photographs
• Business Bank Account
• Business Adress Proof

When is it Mandatory for GST Registration?

If a company’s annual turnover is one of the following, it is eligible for GST registration:

• The limit is Rs. 40 lacs or higher for the manufacturing sector.
• The service sector has a threshold of Rs. 20 lacs or higher.
• The threshold limit is Rs. 10 lacs or more for particular category states.

Special Category States include Arunachal Pradesh, Assam, Jammu & Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Tripura, Sikkim, and Uttarakhand.

• Jammu and Kashmir and Assam are two particular category states that chose to have a threshold limit of Rs.40 lacs for commodities.
• Puducherry, a regular category state, opted for a threshold limit of Rs. 20 lacs for goods.