GST Registration

GST Registration Online & GST Migration in Delhi

What is GST? GST refers to goods and services tax. It is a tax applicable on all transactions dealing with the supply of goods and services except goods like liquor, petroleum products which have been exempted from GST. What is CGST, SGST & IGST? CGST (Central goods and services tax) will be levied by the center. SGST (state goods and services tax) will be levied by the state. IGST is integrated Goods and services tax to be collected in case of interstate movement of goods within India. It will be collected by the union and will be transferred to the states.

It is applicable to entire India including a state of J&K.

  1. Every person who is supplying goods and services of over 10 lacs per annum (5 lacs for northeastern states) is required to register under GST Act.
  2. Also, persons included in the taxable person list mentioned above are required to register on GST portal.
  • VAT/CST is applicable on sale of goods.
  • Excise is applicable to manufacture or production of goods.
  • GST is applicable on the supply of any goods and services.
  • GST is a form of a value-added tax that will replace all the indirect taxes levied on both goods and services by the state and central government, once it is implemented.
  • Basically, at present, there are a number of taxes like VAT, CST, Services Tax, Excise, Octroi, Luxury tax etc. GST will merge these all taxes.
  • Casual taxable person i.e. someone who occasionally undertakes transactions of supply of goods and services as a principal person or as an agent, in a taxable territory anywhere in India.
  • Person who is involved in interstate supply is also taxable under this act.
  • Those who have to pay reverse charges
  • Supplier of goods and services on behalf of a registered taxable person.
  • Goods and services through electronic commerce operators.
  • Every electronic commerce operator.
  • A person providing goods and services under a brand name.
  • A job worker, according to the goods supplied after completion of a job.

A proper and true account and record of the following must be kept by every person liable to register under GST:

  • Production or manufacture of goods
  • Inward and outward supply of both goods and services
  • Stock of goods
  • Output tax (payable and paid) and input tax (payable and paid)

Commissioner or chief commissioner may add more records.

Every taxable person registered under GST Registration, whose annual turnover exceeds the prescribed limit has to get an audit done by a Chartered accountant. The Audit report (GSTR-9A) has to be submitted at the time of annual returns filling, before 31st December, before end of financial year.

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A Procedure of GST Registration Online

GST registration Online has to be done through GST portal (www.gst.gov.in) Firstly, the person will have to create username and password. Only after that, the person can begin filling up the details of himself and his business online. The entire procedure has been mentioned in a detailed manner on our Online Gst Registration Procedure for Enroll page.

TIME AND VALUE OF SUPPLY OF GOODS AND SERVICES

Time of supply of goods and services:  The liability to pay GST will arise only at the time of supply of goods and/or services.

  • Earliest of the following will be considered as a time of supply: Date of issue of invoice or the date on which the supplier is required to issue the invoice as per section 28
  • The date on which the supplier receives the payment for the supply made.
  • In the case of supplies that attract reverse charges, time of supply will be considered the earliest of the following:
  • Receipt date of goods
  • Payment Date
  • Immediately following thirty days (in the case of goods) and sixty days (in the case of services) from the date of issue of an invoice by the supplier.
  • In the case of vouchers, the time of supply will be a date of issue of voucher or date of redemption of voucher.

Value of Taxable supply:  The value of a supply of goods and services shall be the transaction value, that is the price actually paid or payable for the said supply of goods and services. It also includes:

  • Any taxes, duties, cesses, fees and charges levied under any statute, which are not included in GST.
  • Any amount that supplier is liable to pay but has been incurred by the recipient.
  • Incidental expenses
  • Interest or penalty or late fee for delayed payment
  • Subsidies

GST Rate Structure

Goods included in consumer inflation basket including food will be taxed at zero rates.

A 4 tier tax rate structure of 5 %, 12%, 18% and 28% has been decided by GST council.

Lower tax rates for essential items and higher tax rates for luxury items and de-merit goods has been decided.

Luxury cars, tobacco & aerated drinks will be levied an additional cess on top of the highest tax rate.

Different Types of GST Returns & Due Date for Filing the same

  • The regular taxpayer would have to file GSTR-1 (outward supply details), GSTR-2 (inward supply details) and GSTR-3(monthly return.)
  • Compounding taxpayers will have to fill GSTR-4 every quarter, before 18th of next month of a quarter.
  • The annual return must be filled by everyone registered under GST before 31st December, before an end of financial year.
PersonForm NamePurposeDue Date
Regular tax payer GSTR-1 outward supply details 10th of every month
Regular tax payer GSTR-2 Inward supply details 15th of every month
Regular tax payer GSTR-3 monthly return 20th of every month
Compounding tax payers GSTR-4 Both inward and outward supply 18th of next month of quarter.
All types of tax payers GSTR-9 Annual return Before 31st December, before end of financial year.

How many taxes have been consumed and included under GST?

GST would be levied on all the transactions in dealing with goods and services. This would replace almost all of the indirect taxes. In particular, it would replace the following indirect taxes:

At Central level:At State level
Central Excise Duty (including Additional Duties of Excise) VAT/Sales tax
Service Tax Luxury Tax
CVD (levied on imports in lieu of Excise duty) Entertainment tax (unless it is levied by the local bodies)
SACD (levied on imports in lieu of VAT Taxes on lottery, betting and gambling
Central Sales Tax Entry tax not in lieu of Octroi
Cesses and surcharges

Penalty, Interest, Prosecution on Default & In Case of Non-Compliance

Any person who contravenes the provisions of GST Act, 2016 will be liable to a penalty of Rs. 25000.

  • When any person transports goods when they are in transit in contravention of the provisions and rules of the act, then the goods and means of transport will be liable to detention or seizure.
  • If any person supplies goods and services under contravention of the act or does not account any goods which are taxable, then the goods will be confiscated and the person will be penalized.

Following offences may attract prosecution:

  • Supplies goods and services without an issue of the invoice.
  • Issues invoice without supplying goods and services.
  • Keeping false records
  • Obstructing proceedings of the tax officer or commissioner
  • Tampers records or documents Collects tax in a false manner.

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