GST

GST, or Goods and Services Tax, is a comprehensive indirect tax that has replaced various indirect taxes in India. It is levied on the supply of goods and services and is aimed at creating a unified tax structure across the country. GST has several registration types, procedures, and requirements, including threshold limits for registration.

Types of GST Registration

Regular Registration : Businesses with a turnover exceeding the threshold limit for GST registration need to apply for regular registration.
Composition Scheme : Small businesses with a turnover below a specified limit can opt for the composition scheme, which has lower tax rates but with restrictions on input tax credit and turnover.
Casual Taxable Person : Individuals or businesses who occasionally undertake transactions involving the supply of goods and services in a state where they do not have a fixed place of business.
Non-Resident Taxable Person : Non-residents who supply goods and services in India and are not eligible for a regular GST registration.
Input Service Distributor : Businesses that have multiple business verticals and wish to distribute the input tax credit (ITC) among such verticals.
Tax Deducted at Source (TDS) Deductor : Entities are required to deduct tax at source under GST.
Tax Collected at Source (TCS) Collector : E-commerce operators are required to collect tax at source under GST.

Documents Required for GST Registration

PAN card of the business entity
Aadhaar card of the authorized signatory
Proof of business registration (e.g., partnership deed, certificate of incorporation)
Identity and address proof of promoters/directors/partners
Photographs of promoters/directors/partners
Address proof of the place of business
Bank account details (cancelled cheque or bank statement)

Threshold Limits for GST Registration

For businesses involved in the supply of goods, the threshold limit for GST registration is Rs. 40 lakhs (Rs. 20 lakhs for special category states).
For businesses involved in the supply of services, the threshold limit is Rs. 20 lakhs (Rs. 10 lakhs for special category states).
Certain categories of businesses, such as those engaged in inter-state supply, are required to register for GST irrespective of their turnover.

Key GST return filing due dates for different types of returns

GSTR-1 : This return contains details of outward supplies of taxable goods and/or services. It is generally due on the 11th of the succeeding month. For example, the GSTR-1 for the month of April is due on May 11th.
GSTR-3B : This is a summary return of outward and inward supplies, along with the payment of tax. It is typically due on the 20th of the succeeding month. For example, the GSTR-3B for the month of April is due on May 20th.
GSTR-4 : This return is for taxpayers registered under the composition scheme. It is due quarterly, by the 18th of the month succeeding the quarter. For example, the GSTR-4 for the quarter ending March is due on April 18th.
GSTR-5 : This return is for non-resident foreign taxpayers. It is due within 20 days after the end of the tax period or within 7 days after the expiry of registration, whichever is earlier.
GSTR-6 : This return is for Input Service Distributors (ISDs) and is due by the 13th of the month succeeding the tax period.
GSTR-7 : This return is for taxpayers required to deduct tax at source (TDS). It is due by the 10th of the succeeding month.
GSTR-8 : This return is for e-commerce operators required to collect tax at source (TCS). It is due by the 10th of the succeeding month.
GSTR-9 : This is an annual return for regular taxpayers. It is due by December 31st of the next financial year.
GSTR-9C : This is a reconciliation statement and certification to be filed along with the annual return by taxpayers whose turnover exceeds Rs. 2 crores in a financial year. It is also due by December 31st of the next financial year.
GSTR-10 : This return is for taxpayers who have opted for cancellation of registration. It is due within three months of the date of cancellation or order of cancellation, whichever is later.
GSTR-11 : This return is for taxpayers with a Unique Identity Number (UIN) who are required to claim a refund for inward supplies. It is due by the 28th of the month following the month for which the statement is filed.

EWAY BILL

Under the Goods and Services Tax (GST) regime in India, an E-way bill is an electronic document generated on the GST portal that is required for the movement of goods worth more than Rs. 50,000 from one place to another. It is mandatory for interstate as well as intrastate movement of goods, with some exceptions.

Details Required for E-way Bill

GSTIN of the recipient
Place of delivery
Invoice or challan number
Value of goods
HSN code of goods
Transport document number
Reason for transportation
Vehicle number

Validity of E-way Bill

For distances up to 100 km: 1 day
For every additional 100 km or part thereof: 1 additional day

Penalty for Non-Compliance

For transporters : A penalty of Rs. 10,000 or an amount equivalent to the tax evaded, whichever is higher, can be levied.
For consignors or consignees : A penalty of Rs. 10,000 or tax sought to be evaded, whichever is higher, can be levied.

Click Here For GST Registration