Important issues under GST Law 2017
Registration: Relevant Sections: Sec. 22 (1),(2),(3),(4),Sec. 23 (1),(2), Sec. 24read with Rules 1(1) to (19) of CGST ACT SGST ACT, UTGST ACT, 2017.
Types of Registrations: A). General Registration, B). Composite Registration, C). Casual Taxable person, D). Non-Resident Taxable Person, E).Input Service Distributor F). Tax Deduction at Source, G). Tax Collected at Source and F). E-Commerce Operator, G).Compulsory registration in certain cases.
A). General Registration: As per Sc.22(1) read with Rule 1(1) of CGST ACT, SGST ACT and UTGST ACT, 2017 Any person supply of goods or supply of services or both to another person with or without consideration and having a turnover of Rs. 40 Lakhs in previous financial year from manufacturing activities or trading activities or supply of immovable property for using for commercial purpose and consider in his Income Tax Return in the Previous Return and exceed Rs.40 Lakhs as aggregate turnover of under same PAN Number, he can obtain Registration under GST Law. (Threshold Limit Rs. 20 Lakhs for Eastern State ).
B). Composition Registration: As per Sec.10 read with provisions of sub-section (3) and (4) of section 9 of CGST ACT, SGST ACT and UTGST ACT, 2017, any person supply of goods to another person and wants to discharge his liability with fixed rate of tax and having a turnover of Rs.1.5 cr. (w.e.f. 1.04.2019) in previous financial year from manufacturing activities or trading activities his Income Tax Return in the Previous Return and exceed Rs.1.5 Cr Lakhs as aggregate turnover of under same PAN Number, he can obtain Registration under GST Law. (Threshold Limit Rs. 75 Lakhs for Eastern State). They has to obtain registration under Composition Registration.
C). Casual Taxable Person: As per Sec. 2(20) and Sec. 24(ii) of CGST ACT, SGST ACT, UTGST ACT, 2017, A person who occasionally undertakes transactions involving supply of goods and services or both in the course of business or furtherance of business, as a principal, agent or in any other capacity without having fixed place of business. Such person shall take registration compulsory.
D). Non-Resident Taxable Person: As per Sec.2(77) and Sec24(v) of CGST ACT, SGST ACT, UTGST ACT, 2017, Any person who occasionally under takes transactions involving supply of goods or services or both in the capacity of principal or agent or any other capacity and such person is not having any fixed place of business or resident in India. Such person shall take registration compulsory.
E). Input Service Distributor: As per Sec.2(61), Sec.24(viii) of CGST ACT, SGST ACT, UTGST ACT, 2017, An office of the supplier of goods or services or both which receives tax invoices issued under section 31 towards the receipt of input services and issues a prescribed document for the purpose of distributing the credit of central tax, State tax, Integrated tax or Union territory tax paid on the said services to a supplier of taxable goods or services or both having the same Permanent Account Number as that office. Such taxable person shall take registration compulsory.
F). E-Commerce Operator: As per Sec. 2(45), Sec. 24(x) of CGST ACT, SGST ACT, UTGST ACT, 2017, Any person who owns, operators or manages digital or electronic facility or platform for electronic commerce. Such person shall take registration compulsory.
G). Irrespective of Turnover limit these following category of taxable persons shall take registration compulsory as per CGST, SGST and UTGST ACTs, 2017;
i) A Person making any inter-State taxable supply,
ii). Persons who are required to deduct tax under section 51, whether or not separately registered under this Act,
iii). Persons who supply goods or services or both , other than supplies specified under sub-section (5)of section 9 , through such electronic commerce operator who is required to collect tax at source under section 52,
iv). Every person supplying online information and data base access or retrieval services from a place outside India to a person in India, other than a registered person, and
v). Such other person or lass of persons as may be notified by the Government on the recommendations of the Council.
For getting registration for the above category you have to ready with you and upload through www.gst.gov.in.
Check List:
1. PAN CARD,
2. I.D. AND ADDRESS PROOF (PROPRIETOR, PARTNER, DIRECTORS ETC.,),
3. BANK ACCOUNT PASS BOOK FIRST PAGE OR BANK STATEMENT 1ST PAGE, (JPG, PF-100KB/ JPG, PF-500 KB)
4. ELECTRICITY BILL OR LAND LINE PHONE BILL OR RENT AGREEMENT (IF RENTAL BUILDING), JPG, PDF-100KB)/ JPG,PDF-200KB)
5. MOA, AOA AND INCORPORATION CERTIFICATE IN CASE OF COMPANY, JPG, PDF 1 MB
6. RESOLUTION PASSED BY BOARD OF DIRECTORS (IN CASE OF COMPANY), JPG, PDF-100KB
7. PROOF OF AUTHORIZED SIGNATORY, IN CASE OF PARTNERSHIP FIRM, COMPANY OR LLP, PDF, JPEG-1MB
8. PARTNERSHIP, LLP AGREEMENT, JPG, PDF-1 MB.