LIST OF DOCUMENTS TO BE MAINTAINED FOR GST

 LIST OF DOCUMENTS TO BE MAINTAINED FOR GST

Invoice for Outward Supply

Invoice for Inward Supply from URD (Un-Registered Person)

Revised Invoice

DEBIT Notes

CREDIT Notes

RECEIPT Voucher

PAYMENT Voucher

REFUND Voucher

Delivery Challan for JOB WORK

Delivery Challan for Supply on Approval Basis

GST Liability

Compulsory Registration in Certain Cases

The following categories of persons shall be required to be registered under the GST, irrespective of the turnover threshold, as mentioned in the previous paragraphs:

1. Persons making any inter-State taxable supply;
2. Casual Taxable persons making taxable supply;
3. Persons who are required to pay tax under reverse charge;
4. Specific categories of services, as notified by the government, the tax on intra-State supplies of which shall be paid by the electronic commerce operator if such services are supplied through it
5. Non-Resident taxable persons making taxable supply;
6. Persons who are required to deduct tax, whether or not separately registered;
7. Persons who make taxable supply of goods or services or both on behalf of other taxable persons whether as an agent or otherwise;
8. Input Service Distributor, whether or not separately registered;
9. Persons who supply goods or services or both, other than supplies specified under sub-section (5) of section 9, through such Electronic Commerce Operator who is required to collect tax at source;
10. Every Electronic Commerce Operator;
11. Every person supplying online information and data base access or retrieval services from a place outside India to a person in India, other than a registered person; and
12. Such other person or class of persons as may be notified by the Government on the recommendations of the Council.

GST Liability

 GST Liability-Basics

Every supplier, who makes taxable supply of goods or services or both, in a State or Union territory, shall be liable to be registered, if his aggregate turnover in a financial year exceeds Twenty Lakh Rupees.

This limit has been increased to Rs. 40 Lakhs, only for those suppliers, who is exclusively engaged in the supply of goods, subject to certain conditions.

In the case of Special Category States, the above said aggregate turnover limit will be Twenty Lakhs Rupees.

In other words, where such person makes taxable supplies of goods or services or both from any of the Special Category States, he shall be liable to be registered if his aggregate turnover in a financial year exceeds Ten Lakh Rupees.

Meaning of Aggregate Turnover

ü      For the purposes of registration,  the expression “aggregate turnover” shall include all supplies         made by the taxable person, whether on his own account or made on behalf of all his principals;

ü      Supply of goods, after completion of job-work, by a registered job worker shall be treated as the supply of goods by the principal and the value of such goods shall not be included in the aggregate turnover of the registered job worker;

List of Special Category States

Special Category States are Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh, Uttarakhand and States of Jammu & Kashmir.

GST Registration Process

GST Registration by a "person" Supplying Online Information and Data Base Access or Retrieval Services from a place outside India to a non-taxable online recipient

Any person supplying online information and data base access or retrieval services from a place outside India to a non-taxable online recipient shall electronically submit an application for registration, duly signed or verified through EVC, in FORM GST REG-10, at the Common Portal, either directly or through a Facilitation Centre notified by the Commissioner.

The applicant shall be granted registration, in FORM GST REG-06, subject to such conditions and restrictions and by such officer as may be notified by the Central Government.

 

GST Registration Process

 Separate Registration for multiple places of  business within a State or a Union territory

Any person having multiple business places within a State or a Union territory, requiring a separate registration for any of its business, shall be granted separate registration in respect of each of the business, subject to the following conditions:

Ø  Such person has more than one business with in a state or UT, as defined in the CGST Act;

Ø  No business of a taxable person shall be granted registration to pay tax under composition levy, if any one of the other business of the same person is paying tax under the normal provisions.

Ø  All separately registered business places of such person shall pay tax under the Act on supply of goods or services or both made to another registered place of business of such person and issue a tax invoice or bill of supply, for such supply.

Submission of Application for Registration by Separate Business Verticals

A registered person eligible to obtain separate registration for such place of business may submit a separate application in FORM GST REG-01 in respect of each such place of business.

The provisions relating to verification and grant of registration to such separate place of business shall be the same, as they apply to an application submitted by the taxable person.

GST Registration Process

 Grant of registration to Non-Resident Taxable Person

A Non-Resident taxable person shall electronically submit an application, along with a self-attested copy of his valid passport, for registration, duly signed or verified through EVC, in FORM GST REG-09, at least five days prior to the commencement of business at the on the Common Portal, either directly or through a Facilitation Centre notified by the Commissioner.

In the case of a business entity incorporated or established outside India, the application for registration shall be submitted along with its tax identification number or unique number on the basis of which the entity is identified by the Government of that country or its’ PAN, if available.

A person applying for registration as a non-resident taxable person shall be given a temporary reference number (TRN) by the Common Portal for making advance deposit of tax and the acknowledgement in FORM GST REG-02 shall be issued electronically only after the said deposit in his electronic cash ledger.

The provisions relating to verification and grant of registration to Non-Resident taxable person shall be the same, as they apply to an application submitted by the taxable person.

The application for registration made by a non-resident taxable person shall be signed by his authorized signatory who shall be a person resident in India having a valid PAN.

GST Registration Process

 GST Registration Process:

 Verification of the application and approval

The applicant shall furnish such clarification, information or documents electronically, in FORM GST REG-04, within seven working days from the date of receipt of such notice.

If the officer is satisfied with the clarification, information or documents furnished by the applicant, in FORM GST REG-04, within seven working days, he may approve the grant of registration to the applicant within seven working days from the date of receipt of such clarification or information or documents.

However, if the applicant doesn’t submit any reply in response to the notice in FORM GST REG-03, issued to him, within the prescribed period or where the officer is not satisfied with the clarification, information or documents furnished, he shall, for reasons to be recorded in writing, reject such application and inform the applicant electronically in FORM GST REG-05.

Deemed Approval of the Registration

If the proper officer fails to take any action -

(a) Within three working days from the date of submission of application, or

(b) Within seven working days from the date of receipt of clarification, information or documents furnished by the applicant, the application for grant of registration shall be deemed to have been approved.

Issue of registration certificate

If the application for grant of registration has been approved by the concerned officer, a certificate of registration in FORM GST REG-06 showing the principal place of business and additional place(s) of business shall be made available to the applicant on the Common Portal and a Goods and Services Tax Identification Number (hereinafter in these rules referred to as “GSTIN”) shall be assigned to him.