Who Are Eligible For GST Registration

Who Are Eligible For GST Registration

GST amalgamates several different central and state indirect taxes and thereby, helps in increasing revenue for the government all the while eliminating the cascading effect of taxes. In order to qualify for GST registration, a business needs to meet certain criteria such as taxable turnover limit.

The turnover limit for obtaining Goods and Services Tax registration is Rs 40 lakhs for the manufacturing sector and 20 lakhs for the service sector for normal states. Moreover, anyone who has been registered under earlier laws of taxation such as VAT, excise, or service tax will have to register themselves under GST. This includes any person working in the import-export industry, and persons who are liable for reverse charge taxation.

Individuals, HUFs, LLPs, private companies, AOP/ BOI, anybody corporate incorporated under the laws of a foreign country, trusts and artificial juridical persons are eligible to apply for GST registration. However, the person must have a valid PAN to qualify for registration under GST.

Once the eligibility criteria is met, the GST applicant must visit the official website of GST and fill up the application form following the relevant information and proofs. A Temporary Reference Number or TRN will be provided to the applicant once all the details have been entered. The TRN will be required to open PART-B of the registration process and is to be saved for further use. Once the TRN has been provided, the person can track their application status via a dashboard on the official GST portal.

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