In the following cases, you are mandatorily required to obtain Goods and Services Tax registration:

• Your turnover crosses the threshold limit of Rs. 10 lakhs / 20 lakhs / 40 lakhs as the case may be.
• If you are involved in the inter-state supply of goods irrespective of threshold limit.
• If you are involved in the inter-state supply of services beyond the threshold limit.
• If you are liable to register under the reverse charge mechanism
• If you are a non-resident taxable person or casual taxable person
• If you are an agent of a supplier
• If you are an input service distributor
• If you are an e-commerce aggregator or a business supplying through an e-commerce aggregator
• If you are providing Online Information Database Access and Retrievable Service

If you satisfy any other criteria the government may notify

Once a person becomes liable to obtain GST registration, he shall make an application for registration within 30 days of becoming liable by filing Form GST-REG 01

A regular taxpayer needs to undertake the following compliances under the Goods and Services Tax Act:

• Monthly or Quarterly GST Return Filing: For a regular taxpayer, you need to file GSTR-1 and GSTR-3B each month. However, if you opt for Quarterly Return and Monthly Payment (QRMP) scheme, then you need to file your GST returns quarterly.
• Annual Return: You need to file an annual return if your annual turnover exceeds Rs. 2 crores during a financial year.
• GST Refunds: If you fulfill the conditions specified under the GST law, then you can apply for refunds under the GST law.
• E-invoicing: With effect from 1st October 2022, businesses with turnover above INR 5 crores in a financial year shall be liable to issue e-invoices.

E-way Bills: If the taxpayer undertakes the movement of goods above INR 50,000, then it shall generate an e-way bill for the same.

Small businesses and taxpayers with a turnover of less than INR 1.5 crore (INR 75 lakh for special category states) can opt for the composition scheme where they will be taxed at a nominal rate of 0.5% or 1% (for manufacturers) CGST and SGST each (rates as per the latest proposed changes in the Goods and Services Tax bills).

Composition levy is available to only small businesses dealing in goods. It is not available to interstate sellers, e-commerce traders and operators, and service providers.

Under the GST regime, availment of input tax credit has been simplified to avoid the cascading deficiencies which were existing under the former regime.

The input tax credit will be set off as follows:

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