GST Registration

What is GST Registration?

With effect from 1stJuly 2017, GST was launched all over India, except in the state of Jammu & Kashmir. Subsequently, on 8thJuly 2017, Jammu & Kashmir also came under the purview of GST, and the entire nation was brought under a unified indirect tax system. GST applies to all traders, manufacturers and service providers. Various taxes like Service Tax, Central Excise, State Excise, Entertainment tax and different central and states taxes are subsumed under one tax, i.e., GST. It is a tax leviable on the supply of goods or services or both, except alcoholic liquor for human consumption.

The GST registration process is simple to register. GST/ online GST registration is all-in-one tax that has subsumed the State(VAT, Entertainment Tax, Luxury Tax, Octroi) and central taxes (CST, Service Tax, Excise Duty). The entire process of Online GST Registration is done on the online basis and there is no manual intervention of the individual to go and submit the documents; all the documents are submitted online. GST is a destination based, multiple stage tax system which is levied on the value addition of goods or services. For example- if the product is made in Delhi and its consumption is in Haryana then the entire revenue will go to Haryana instead of Delhi. We, can talk about the small taxpayer with a turnover of less than Rs.1.5 crore (Rs. 75 Lakhs for the Special Category States) can opt for the Composition scheme they can opt for Composition scheme to get rid of the GST Returns on monthly basis and opt for Quarterly return and pay the GST on Fixed Rate of turnover.

There are five products that are not presently leviable to GST. These products are petroleum crude, diesel, petrol, aviation turbine fuel and natural gas. GST will be charged on these products from such date as may be notified by the government on the recommendations of the GST Council.