Who Are Eligible For GST Registration in India

Who Are Eligible For GST Registration in India


According to the new law, every taxable person who carries on business at any place in India or who intends to do so, is required to register for Goods and Services Tax. This includes individuals, HUF, firm, LLP, a company or a government company, an AOP/BOI, co-operative society, trust, local authority, and an artificial juridical person. It also includes a person who carries on any economic activity including trade and commerce, even if not in the course of business.

All the businesses whose turnover is more than 20 lakh rupees in a financial year are required to get registered under Goods and Services Tax. This includes traders, manufacturers and service providers. Businesses who make taxable supplies should also obtain registration in the State or Union Territory (UT) from where they supply goods. The threshold limit for special category states, J&K and Himachal Pradesh is 10 lakh rupees in a financial year.

After obtaining the GST Registration, the taxpayer will be eligible to avail input tax credit and raise GST-compliant invoices. They are also expected to file GST Returns on a monthly or quarterly basis.

If you are a casual taxpayer or a Non-Resident Taxpayer (NRTP), then you need to apply for registration as an ordinary taxable person through the online portal. To apply, login to the GST portal and select 'Register' under the 'Taxpayers' menu. Enter the TRN and captcha details, and click on the 'Proceed' button to start the process. Once the application is approved, an ARN will be sent to you.

 

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