How to get GST Registrations in BTM
GST
Registrations in BTM with Consultry you can start an online GST Registrations in
BTM Goods and Services Tax is a secondary tax that was rolled out on July 1,
2017. It is levied on the contribution of goods and services All over the
country. It has brought about stability in the secondary tax structure by
replacing all the indirect taxes that existed in the pre-GST regime such as
VAT, service tax, excise duty, etc. Simply put, Goods Service Tax has included
the concept of "One Nation One Tax." Some important facts…
Registration of any professional entity under the Goods Service Tax Law implies
obtaining a unique number from the concerned tax power to collect tax on behalf
of the government and to avail Input Tax Credit (ITC) for the taxes paid on his
inward supplies. an organization with turnover exceeds Rs. Forty lakhs (supply
of goods in normal state), Rs. Twenty lakhs (supply of goods/services in normal
state), Rs. Twenty lakhs (supply of goods in a specific state) or Rs. Ten Lakhs
(Supply of goods or services specific state) and above would be required to
register under Goods Service Tax. The eligible entities must file Goods Service
Tax application within 30 days from the date on which the entity became liable
for registration under Goods Service Tax law.
Mandatory registration
Person supplying online information and database access or fetch
services from a place outside India to a person in India, other than a record
payable person persons making any inter-State taxable contribute casual taxable
individual making payable supply person who are necessary to pay tax under
sub-section (5) of section 9 non-resident taxable persons making payable supply
persons who are necessary to deduct tax under section 51, whether or not
different registered under this Act persons who make taxable contribute of
goods or services or both on behalf of other taxable individual whether as an
agent or otherwise Input Service Distributor, whether or not disparate
registered under this Act persons who supply goods or services or both, other
than supplies specified under sub-section (5) of section 9, through such
electronic commerce operator who is necessary to collect tax at source under
section 52 every electronic commerce operator Penalty for not registering under
Goods Service Tax
According to the section 122(1)(xi) of Central Government State
Tax Act, 2017 any taxable person who fails to register under Goods Service Tax
even if he/she is legally bound as per the Goods Service Tax Act needs to pay
the following amount of penalty As per section 122(2)(a) for any reason, other
than the cause of fraud or any wilful. of the tax due from such person,
whichever is higher Otherwise as per section 122(2) (b) is 10,000 INR or amount
of tax evaded whichever is higher.
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