Who Are Eligible For GST Registration

Who Are Eligible For GST Registration


As a business owner, it is vital to understand the eligibility criteria for GST registration as it allows you to ensure that your business complies with the tax laws. This article takes a look at the threshold limit, required documents, and more to help you understand how GST works.

Any person who makes supplies of goods or services within the country is eligible for Goods and Services Tax registration. This includes taxable persons as well as non-taxable persons. However, if your aggregate turnover is more than Rs 40 lakh (or 20 lakh in case of special category states) you must register for GST as a regular taxable person. In case of a one-person company, it is not mandatory to register for GST but it can be done if you want to avail the benefits such as filing of returns online and getting input tax credit.

A casual/non-resident taxable person can get temporary registration, which is valid for 90 days and can be extended for an additional 90 days. This type of registration is ideal for those who are just starting their business or have been doing business for a short period of time.

A TDS deductor is a person who is required to deduct taxes at the time of supply. They can obtain registration for GST without having a PAN as the registration number is issued on the basis of the existing Tax Deduction and Collection Account Number (TAN) which is given under the Income Tax Act.

 

 

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