Goods and Service tax (GST) is a ‘uniform’ ‘value added’ ‘indirect tax’ levied on supply of goods and services across the country. GST is a “destination-based tax” which is levied only on value addition at each stage because credits of input taxes paid at the time of procurement of goods or services are available and could be set off with output tax liability. In any tax system, registration is the most fundamental requirement for identification of tax payers to ensure tax compliance in the economy. Registration of any business entity under the GST Law implies obtaining a unique GSTIN from the concerned tax authorities for the purpose of collecting tax on output goods/services on behalf of the government and to avail input tax credit for the taxes on the inward supplies.
|S. No.||Description of supply||Turnover critera|
|1||Supply of Goods in the States of Arunachal Pradesh, , Meghalaya, Puducherry, Sikkim, Telangana, and Uttrakhand||Rs. 20 lacs|
|2||Supply of Goods in the states of Manipur, Mizoram, Nagaland and Tripura||Rs 10 lacs|
|3||Supply of Goods in other states||Rs 40 lacs|
|4||Supply of services or mixed supplies in States of Manipur, Mizoram, Nagaland and Tripura||Rs 10 lacs|
|5||Supply of services or mixed supplies in other states||Rs 20 lacs|