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GST Tax Payment and Registration Guide

1. The document discusses key provisions of the Goods and Services Tax (GST) law in India, including how tax is paid on inter-state supplies, requirements for registration, penalties for non-payment or short payment of tax, and the concept of voluntary taxation. 2. It addresses four questions on GST - explaining provisions for tax payment, registration procedures and eligibility criteria, penalties for short/non-payment of tax, and the definition of voluntary tax payment. 3. Registration is required if annual aggregate turnover exceeds Rs. 20 lakh or Rs. 10 lakh for special category states, or for inter-state supplies, supplies through e-commerce, or casual taxable activities. Penalties for

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Bhavna
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122 views9 pages

GST Tax Payment and Registration Guide

1. The document discusses key provisions of the Goods and Services Tax (GST) law in India, including how tax is paid on inter-state supplies, requirements for registration, penalties for non-payment or short payment of tax, and the concept of voluntary taxation. 2. It addresses four questions on GST - explaining provisions for tax payment, registration procedures and eligibility criteria, penalties for short/non-payment of tax, and the definition of voluntary tax payment. 3. Registration is required if annual aggregate turnover exceeds Rs. 20 lakh or Rs. 10 lakh for special category states, or for inter-state supplies, supplies through e-commerce, or casual taxable activities. Penalties for

Uploaded by

Bhavna
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Assignment-4

Gst
Submitted by
Bhavna pathak
Submitted to:
Ms keerti mam
Q1).explain the provision of
tax payment under GST law?
For any inter-state supply,
tax to be paid is Integrated
GST (IGST) which will have
components of both CGST
and SGST. In addition,
certain categories of
registered persons will be
required to pay to the
government account Tax
Deducted at Source (TDS)
and Tax Collected at
Source (TCS).
Q2).explain the procedure for obtaining
registration certificate of GST?
GST Registration
Eligibility Criteria
The following mentions the
categories and eligibility for GST
registration:
Turnover Criteria
“Aggregate turnover” refers to the
aggregate value of all taxable
supplies. It includes the following:
Exempt supplies (excluding the
value of inward supplies on
which tax is payable by a
person on reverse charge
basis),
Exports of goods, services or
both and
Entities providing supplies
between States having the same
PAN. However, the entity should
be excluded from central tax,
State tax, Union territory tax,
integrated tax as well as cess.
If an entity receiving an aggregate
turnover of more than Rs.20 lakh
should register for GST. For
special category state, the
individual shall register upon
receiving Rs.10 lakh as the annual
turnover.
Inter-State Supply
The supplier shall take
responsibility in obtaining GST
upon transferring goods from one
state to another. The individual
shall acquire GST, even if the
annual aggregate turnover criteria
is not satisfied. Earlier, GST
registration mandated that
suppliers shall acquire GST upon
providing goods or services
between states.
However, the GST council revised
GST requirement for service
providers. The amendment stated
that service providers should
obtain GST only if the annual
turnover exceeds Rs.20 lakh. The
services shall apply for providing
services in both inter-state or
intra-state.
Supply through E-commerce
Platforms
Any individual supplying goods or
services through an e-commerce
platform shall apply for GST
registration. The individual shall
register irrespective of the
turnover. Hence, sellers on
Flipkart, Amazon and other e-
commerce platforms must obtain
registration to commence activity.
Casual Taxable Persons
Any individual undertaking supply
of goods, services periodically,
through a temporary stall or shop
must apply for GST. The individual
shall apply irrespective of the
annual aggregate turnover.
Voluntary Registration
In addition to the above, any entity
can obtain GST registration
voluntarily. Earlier, any entity who
obtained GST voluntarily can not
surrender the registration for up to
a year. However, after revisions,
voluntary GST registration can be
surrendered by the applicant at
any time
Q3).explain the penalty for short
payment or non payment of gst?
An offender not paying tax or
making short payments must pay
a penalty of 10% of the tax amount
due subject to a minimum of Rs.
10,000. Consider — in case tax has
not been paid or a short payment
is made, a minimum penalty of Rs
10,000 has to be paid. The
maximum penalty is 10% of the tax
unpaid.
Q4).what is voluntary tax payment?
Voluntary taxation is a theory that
states that taxation should be a
voluntary act. Under the theory,
people should have the option to
pay taxes instead of being forced
to pay taxes by their government.
Under this theory, people would
control how much they pay and
where they spend it. The theory is
a part of Objectivist politics and
many libertarian ideologies.
Proponents of some studies assert
that individuals will give to
government, paying voluntary
taxes to support specific
functions. Donations average 22
percent of an endowment to
government, and 27 percent to
private nonprofits, and are
influenced by their cause, level,
and perceptions of effectiveness
and efficiency.[

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