Voluntary registration or Self-registration by the dealers are made in order to get listed within the GST framework. It is applicable to every supplier who makes the supply of taxable goods and services or both needs to take registration under GST if his aggregate turnover in a financial year exceeds the threshold limit. This time it is somehow different from the rules and regulations as the government has been seeking some voluntary registrations.

What Is GST?

GST is brought in to bring all the taxes under one regime. Here is the sum of the following taxes results in GST:

• Service tax
• Central Excise duty
• Custom duty
• VAT
• Central sales tax
• Luxury tax
• Entertainment and amusement tax
• Taxes on lotteries, betting, gambling

All the taxes claimed on manufacturing, trading, importing, exporting, consumption of goods and services are now popular as GST. It has merged the central and state taxes. But GST has 3 parts.

• SGST– State GST
• CGST– Central GST
• IGST– Integrated GST

Voluntary GST Registration

While some businesses fall under mandatory GST registration, there are a few where a person does not come within the criteria as described above and wants to take GST registration then he/she can get the registration voluntarily as other business registrations and licenses. Voluntary registration has advantages as well as some liabilities.

Benefits

• GST eliminates the cascading effect of the tax.
• Higher threshold for registration.
• Cosmopolitan scheme for small business.
• Simple and easy online procedure.
• The number of compliances is lesser.
• Defined treatment for E-commerce operators.
• Improved Efficiency of logistics.
• The unorganized sector is regulated under GST

Liabilities

• The registered person has to compulsorily collect GST and must convey it to the government.
• The person has to file all quarterly and annual returns regularly. To avoid penalties.

Mandatory GST Registration

The following persons have to take online GST registration.

• GST registration is mandatory for the inter-state supply of goods.
• If the annual turnover of the supply of goods within the same state exceeds Rs. 40 lakh excepting Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Telangana, Tripura, and Uttarakhand.
• If turnover is greater than Rs. 20 lakh in case of goods and 10 lakh in case of services persons involved in the supply of goods and services in Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Telangana, Tripura, and Uttarakhand has to register if turnover.
• An e-commerce operator who gives a platform to buy and sell goods and services has to get GST registration even if the turnover does not attract the specified limit.
• An input service distributor has to register mandatorily.
• If the supplier is a non-resident taxable person, such a person has to get registered under GST.
• Any person who is acting as an agent of a franchiser or supplier has to register under GST.
• Any person who is withdrawing TDS or TCS in GST has to register under GST.
• A person giving online information or database services in India from outside India has to get registered.
• Any other person as notified by the government.

How can we help you?

GST registration is only mandatory for every person who is specified by the government. But if a Merchants/Transporters/ Exporters are willing to take the registration then he must follow all the compliance. Online Legal India™ is your next stop solution. We offer a plethora of services in GST compliances such as Invoicing, Preparation and filing of GST return.