[Link] do you mean by registration under GST?

explain the advantages of taking registration in

GST?
Ans. [Link] under GST (Goods and Services Tax) means officially enrolling a business or
individual with the tax authorities to collect and pay GST in India. Once registered, the entity gets a
GSTIN (Goods and Services Tax Identification Number) which is a unique 15-digit number assigned by
the government. Following are Who Needs to Register in gst- a)Businesses with annual turnover
above the threshold limit (generally ₹40 lakhs for goods, ₹20 lakhs for services, varies by state). b)E-
commerce sellers. C)Businesses involved in inter-state supply. d)Voluntary registration is also
allowed Advantages of GST [Link] Recognition-Your business is recognized as a
legitimate supplier of goods or services. 2. Input Tax Credit (ITC)-You can claim credit for the GST
paid on purchases, which can be used to pay GST on sales reducing overall tax liability.3. Ease of
Doing Business-GST registration enables businesses to trade seamlessly across states and online
platforms.4. Access to Larger Markets-Many big businesses and government agencies prefer dealing
only with registered vendors.5. Avoid Penalties=Unregistered businesses (if liable to register) can
face heavy fines and legal actions.6. Participation in Government Tenders-Many tenders require
GSTIN as a mandatory eligibility criterion.
Q. Who are the persons liable for registration under section 22 of cgst act?
Ans. Under Section 22 of the CGST Act, 2017, the following persons are liable for registration under
GST:[Link]-Based Registration:-Any person engaged in the supply of goods or services is
required to register under GST if their aggregate turnover in a financial year exceeds the following
thresholds:For Supply of Goods:Rs. 40 lakhs (for most states) Rs. 20 lakhs (for Special Category
States like Manipur, Mizoram, Nagaland, Tripura) For Supply of Services:Rs. 20 lakhs (for most
states)Rs. 10 lakhs (for Special Category States)2. Persons Already Registered:-Any person who was
registered under the existing laws (like VAT, Service Tax, etc.) prior to GST implementation is liable
for registration under GST.3. Transferee in a Business Transfer:-If a business is transferred (including
succession, amalgamation, demerger), the transferee or successor is liable to register from the date
of transfer or succession.4. Change in Business Constitution:-In case of change in the constitution of
a business (e.g., sole proprietorship becoming a partnership), the new entity must register.
Q. who are the persons exempt for registration under section 22 of cgst act ?
Ans. Under Section 22 of the CGST Act, certain persons are not liable to register under GST, meaning
they are exempt from registration even if they are making taxable supplies. Here's a list of such
persons:1. Persons below the threshold limit:-If the aggregate turnover in a financial year is below
the threshold limits, registration is not required:Goods: Rs. 40 lakhs (Rs. 20 lakhs for Special Category
States)bServices: Rs. 20 lakhs (Rs. 10 lakhs for Special Category States) 2. Exclusive supply of
exempted goods or services:-Persons engaged exclusively in the supply of goods or services that are
wholly exempt from GST or are non-taxable are not required to register.3. Agriculturists:-An
individual or HUF supplying produce out of cultivation of land is not liable to register.
Mandatory Registration under Section 24 of CGST Act-1. Inter-State Suppliers-Persons making
inter-State taxable supply of goods or services (exception: service providers with turnover < Rs. 20
lakhs are exempt via notification).2. Casual Taxable Persons-Those occasionally making taxable
supply in a state/UT where they don't have a fixed place of business.3. Persons Required to Pay Tax
Under Reverse Charge-E.g., importers of services or persons receiving goods/services liable under
RCM.4. Non-Resident Taxable Persons-Foreign suppliers making taxable supply in India.5. E-
commerce Operators-Platforms like Amazon, Flipkart, etc
Q. what do you mean by aggregate turnover and how it is calculated?Ans-Aggregate Turnover
refers to the total value of all taxable supplies, exempt supplies, exports, and inter-State supplies
made by a person having the same PAN, across all states and union territories in [Link] is used to
determine whether a person is liable for GST registration and for eligibility under composition
schemes, threshold exemptions, etc. Components Included in Aggregate Turnover:1. Taxable
Supplies (within the state and inter-state)2. Exempt Supplies (goods/services not subject to GST but
not zero-rated) 3. Exports of goods/services. Excluded from Aggregate Turnover: [Link] supplies
on which tax is paid under reverse [Link] (CGST, SGST, IGST, UTGST, Cess) charged on the
[Link] of supplies between distinct persons (branches in different states under same PAN) if
GST is paid on them4. Inter-State supplies between branches having the same PAN Formula for
Calculation:Aggregate Turnover = (Taxable Supplies + Exempt Supplies + Exports + Inter-State
Supplies)- Taxes (CGST, SGST, IGST, Cess)- Inward Supplies under RCM
Q. what are the provision relating to voluntary registration and also explain the advantages and
disadvantages of voluntary registration?[Link] Section 25(3) of the CGST Act, any person who
is not liable to be registered under Section 22 or 24 may still apply for registration [Link]
voluntarily registered:The person becomes a "registered person".All provisions of the GST Act (like
tax collection, return filing, compliance, etc.) apply as if registration was [Link] is no
threshold limit applicable for voluntary registration — even with zero turnover, one can register.
Advantages -1. Input Tax Credit (ITC):-Can claim ITC on purchases (unavailable to unregistered
persons).2. Enhanced Credibility:-Boosts business reputation; often required when dealing with large
companies or government contracts.3. Inter-State Trade:-Enables making inter-State taxable
supplies, which otherwise may require mandatory registration.4. E-commerce Access:-Can supply
through e-commerce platforms like Amazon or Flipkart.5. Legal Recognition:-Gets a GSTIN, which
acts as a proof of business and may help in bank loans or partnerships. Disadvantages 1. Compliance
Burden:-Must file returns (monthly/quarterly/annually) even if no business activity happens.2. Tax
Collection Requirement:-Has to collect GST from customers and deposit it — this may raise prices
and deter customers, especially in B2C models.3. Penalties for Non-Compliance:-Non-filing or
incorrect filing may attract interest and penalties.4. Administrative Costs:-Involves cost for
accounting, software, CA/consultant fees, etc.
Q. explain the provisions of registration relating to casual taxable person and non resident taxable
person?Ans--A Casual Taxable Person is someone who occasionally undertakes taxable supply of
goods or services in a State/UT where they have no fixed place of business. Registration
Provisions:[Link] registration under Section 24(i) – no threshold limit [Link] apply at
least 5 days before commencing business using FORM GST REG-01. [Link] is valid for 90
days, extendable by another 90 days (via application).[Link] make an advance deposit of estimated
GST liability for the period of [Link] opt for composition scheme.
A Non-Resident Taxable Person is someone residing outside India who occasionally supplies goods or
services in India, but does not have a fixed place of business in India.
A Non-Resident Taxable Person is someone residing outside India who occasionally supplies goods
or services in India, but does not have a fixed place of business in India. Registration
Provisions:[Link] registration under Section 24(ii) – no threshold [Link] apply at least 5
days before commencing business in FORM GST [Link] is valid for 90 days,
extendable by another 90 [Link] make an advance tax deposit equivalent to estimated GST
[Link] opt for composition [Link] appoint an authorized representative in India.
[Link] COUNCIL?
Ans. The Goods and Services Tax Council (GST Council) is a joint forum of the Centre and States to
make recommendations to Union and States relating to GST. GST council is the apex constitutional
body (authority) to decide policies of GST. The following are the important points as regards GST
Council:(a) The Article 279A in Constitution of India makes provision for Constitution of GST Council.
This Article empowers the President for the same.(b) The provisions relating to GST Council came
into force on 12th September, 2016. The President constituted the GST council on 15th September,
2016.(c) The function of the council is to make recommendations to the union and the states on
important issues like tax rates, exemptions, threshold limits, dispute resolution, etc.
FOLLOWING ARE THE MEMBERS OF GST COUNCIL-(a) The Union Finance Minister (Chairperson)(b)
The Union Minister of State in Charge of Revenue or Finance (Member)(c) The Minister in charge of
Finance or taxation or any other Minister nominated by each State Government (Member)
[Link] between direct and indirect tax?
[Link]-paid directly by an individual or an organization/collected by intermediaries from
[Link] ENTITY--individual and businesses \and consumers
[Link] OF TAX PAYMENT-based on incomes or profit / same for all tax payers
[Link] of payment—cannot be transferred/transferable
[Link] of tax-progressive, i.e., its rate increases with taxpayer’s income./ Regressive tax, i.e., its
rate decreases with increase in income
[Link] evasion-high requires declaration of income/low embedded in prices harder to avoid
[Link] cost-high involves assessment audits/low collected in routine transactions
[Link] OF TAX-cannot be shidfted to another person/can be shifted to the end consumer