Who Are Eligible for GST Registration in India

Who Are Eligible for GST Registration in India


A person who is liable to register for Goods and Services Tax (GST) must apply for GST registration within 30 days from the date on which he becomes liable. He can do so by filling up the online application form available on the GST portal. Once the application is submitted, an ARN (Application Reference Number) is generated instantly which helps in tracking the status of the application.

Unlike sales tax, which is applied to only retail transactions, Goods and Services Tax is a comprehensive consumption tax that applies at each stage of the supply chain. This can make it a more complicated tax to administer than sales tax. The new system requires businesses to keep detailed records of their purchases and sales, which can add to the cost of doing business.

When a person whose aggregate turnover exceeds 20 lakh rupees annually supplies services in any state or union territory, he must obtain GST registration. This is also true for those who transfer the ownership of their business to another person, on account of succession or merger.

If the applicant is a non-resident taxable person (NRTP), he can opt for GST registration under category 3. He must deposit an advance amount equal to his expected GST liability for the duration of the registration. This registration is valid for three months. However, it can be extended or renewed. The NRTP must maintain records of all transactions in a digital format and upload them to the GST portal regularly.

 

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