5 Important Points about Casual Taxable Person under GST
Video Tutorial by CA Satbir Singh
“casual taxable person” means a person who occasionally undertakes transactions involving supply of goods or services or both in the course or furtherance of business, whether as principal, agent or in any other capacity, in a State or a Union territory where he has no fixed place of business;
[Section 2(20) of CGST Act 2017 ]
1. Casual Taxable Person cannot opt for composition.
2. Casual Taxable Person should apply for GST Registration as a at least 5 days prior to the commencement of business.
3. Registration as a Casual Taxable Person is given for 90 days which can be extended once for an additional period of 90 days, if you apply for extension of registration before the expiry of the initial period for which registration was granted.
4 . Casual Taxable Person should deposit the tax in advance equivalent to the estimated tax liability based on the estimated turnover for the period for which the casual registration is being obtained
5. Casual Taxable Person can deposit the tax in advance based on Net Estimated Tax Liability after considering Eligible Input Tax Credit%
You will get answer of following questions :-
- What is Registration requirements for Casual Taxable Person under CGST Act ?
- Which Casual taxable persons is not required to take GST registration ?
- Can a Casual Taxable Person take multiple registrations in a State?
- I want to take a Registration as a Casual Taxable Person but I can’t find the option on GST Portal
- How GST Registration will be issued to casual taxable person if exhibitions are for more than 180 days under CGST Act ?
- Casual taxable person have deposited advance tax but do not want to continue the business. How shall I get my money back?