GOODS AND SERVICE TAX (GST)
Goods and Service Tax(GST) is a tax levied on the supply of Goods and Services (as on date most of the Goods and services has been brought under GST purview) specified by the GST Council under the GST Law, 2017 and this is effective w.e.f 1st July 2017
The Following need to register for GST :
- Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax, etc.)
- Businesses with turnover above the threshold limit of Rs. 20 Lakhs (Rs. 10 Lakhs for North-Eastern States, J&K, Himachal Pradesh, and Uttarakhand)
- Casual taxable person / Non-Resident taxable person
- Agents of a supplier & Input service distributor
- Those paying tax under the reverse charge mechanism
- A person who supplies via e-commerce aggregator
- Every e-commerce aggregator
- Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person