Question : If I register voluntarily though my turnover is less than Rs. 20 lakhs, am I required to pay tax on supplies made post registration ? Answer: Yes. If you obtain voluntary registration despite the turnover being below Rs. 20 lakhs, you would be treated as a normal taxable person and would need to… Read More »
Question : I am a SME selling printed books after printing and have a turnover of twenty-five lakhs rupees per annum. I print only Children’s picture, drawing or colouring books which are exempt from GST. Do I need to register? Answer: No. A person dealing with only exempted supplies is not liable to registration irrespective… Read More »
Question : If I have obtained provisional GSTIN (PID), can I use the same on the invoice to make supply without waiting for final GSTIN? Answer: Provisional GSTIN (PID) would eventually be your final GSTIN. The number would remain the same. Yes, you can use this PID on invoice for making supply without waiting for… Read More »
Question : I was registered under VAT but not under Central Excise. Do I need to apply for new registration? Answer: No. Existing registrants of VAT having valid PAN have been issued Provisional ID and password. If you have not received provisional ID, please contact your tax administration to obtain the same. This Provisional Identity… Read More »
Question : How can an application for fresh registration be made under GST ? Within what time will registration be granted? Answer: Application for fresh registration is to be made electronically on the GST common portal (www.gst.gov.in) in FORM GST REG 1 . If the details and documents are in order, registration will be granted within… Read More »
Question : How do I make supply, if I have not applied for registration? Answer: You should apply for registration at the earliest on the GST common portal and obtain application reference number (ARN). You need not disrupt your business and may continue to make supplies on invoices without GSTIN. The application for registration must… Read More »
Question : I am engaged exclusively in the business of supplying goods or services which are exempt from GST. Am I liable for registration? Answer: No. GST on MSME : FAQ’s GST on Textile : FAQ’s GST on Export : FAQ’s GSTIN / PAN and Invoice information in Shipping Bill Bond or LUT along with… Read More »
Question : What is the most important precaution to be taken to avail the facility of threshold exemption? Answer: An MSME availing threshold exemption should not make any inter-State supply whatsoever, though the MSME may receive supply from other States. GST on MSME : FAQ’s GST on Textile : FAQ’s GST on Export : FAQ’s… Read More »
Question : Is an agriculturist liable to registration? Answer: No. An agriculturist, to the extent of supply of produce out of cultivation of land, is not liable to registration. GST on MSME : FAQ’s GST on Textile : FAQ’s GST on Export : FAQ’s GSTIN / PAN and Invoice information in Shipping Bill Bond or… Read More »
Question : What is the threshold for registration in GST ? Answer: A person having business which has aggregate turnover of more than Rs. 20 lakhs calculated for a given PAN across the country would need to register under GST. There are some exceptions to this rule as mentioned in section 24 of the CGST… Read More »