Who Needs To Register For GST?
Businesses selling taxable goods and services are required to get registered for GST in India. GST registration is mandatory for:
Casual taxpayer
Anyone involved in buying and selling products and services with an annual turnover of over INR 20 lakhs (the amount may vary from INR 10 lakh to 40 lakh depending on supply in the state/UT).
Inter-state Suppliers
Anyone undertaking inter-state supply of products and services has to register for GST with no threshold limits.
Non-resident taxpayer
Any non-resident taxpayer who supplies goods and services to the recipients in India has to register for GST irrespective of the turnover.
E-commerce operator
Anyone supplying digital goods or services, including a digital product over a digital network, has to register for GST. All eCommerce operators are required to register for GST.
Documents Required For GST Registration
Different sets of documents are required to file for GST registration. It depends on the business type and nature of products and services provided by the entity. Some commonly required documents for GST registration are:
Difference Between CGST, SGST, And IGST
The GST levied by the central government on goods and services is Central GST (CGST), and that by the states is State GST (SGST). However, on the supply of goods and services outside a state, Integrated GST (IGST) is collected by the centre. IGST applies to imports too.
CGST
50% of the GST collected for a transaction happening within a state. The CGST gets transferred to the central government.
SGST
50% of the GST collected for a transaction happening within a state. The SGST gets transferred to the state government.
IGST
It gets charged on goods and services that involve imports or transaction outside a state. The IGST gets transferred to the central government.
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