GST stands for Goods and Services Tax. GST will be a single destination based consumption tax that will replace existing taxes, including CENVAT, Octroi, Sales Tax, and Excise Duty, etc.

The ‘supply’ of goods and/or services to any person or entity in India.

Any business whose turnover exceeds the threshold limit of Rs. 40 lakhs (Rs 20 lakhs for North Eastern and hill states) will have to register under GST. Businesses registered under any of the pre-GST laws: VAT, Excise/Service Tax have to register under GST by default. Apart from the normal taxpayer (as defined above), there are few special cases (as explained in section 3) that have to register for GST irrespective of their turnover.

An entity liable to be registered under GST should apply for registration under GST within 30 days from the date on which the entity becomes liable to register for GST. Casual taxable persons and non-resident taxable persons are required to be registered under GST, prior to commencing business.

GST Registration is not mandatory for persons who Supply agricultural produce from cultivation Make only exempt supplies (Nil Rated or Non-Taxable supplies) of goods or services Make supplies which are entirely covered under reverse charge

Yes, a person can get registered voluntarily under GST in terms of sub-section (3) of section 25. All the provisions will apply to him as they apply to a registered person.

Aggregate turnover is the aggregate value of all taxable supplies, exempt supplies, export of goods or services or both and inter-State supplies of a person having same PAN. Aggregate turnover does not include CGST, SGST, IGST and GST cess.

Yes. PAN is mandatory for normal taxpayers and casual taxable persons to be registered under GST. However, PAN is not mandatory for a non-resident taxable person for obtaining registration.

After submission of GST application with all the required documents, GSTIN is alloted within 7 working days.

Once GST certificate is granted, the registration is valid until it’s surrendered or cancelled or suspended. Only GST certificate issued to non-resident taxable person and casual taxable person have a validity period.