GST INDIA DAILY

GST REGISTRATION SERIES – PART 7

Last week we have gone-through overview of registration under GST. Read the Part 6 of registration under GST, Link as follows:

https://gstindiadaily.wordpress.com/2020/09/06/5-6-registration-under-gst-act/

CASUAL TAXABLE PERSON:

INTRODUCTION:

Casual taxable person means a person who supplies taxable goods or services occasionally in a taxable Territory where he does not have a fixed place of business. The person can act as a Principal or agent or in any other capacity supply goods or services for the furtherance of business.

REGISTRATION:

The liability to register under GST arises when the person is a supplier and the aggregate turnover in the financial year is above the threshold limit of 20 lac rupees. However, there are certain categories of suppliers who are required to get compulsory registration irrespective of their turnover.

The threshold limit of 20 lac rupees is not applicable to them. One such supplier would be a Casual Taxable Person (hereafter referred as CTP). A Casual Taxable person cannot opt for Composition Scheme.

A CTP has to obtain a Temporary Registration which is valid for a maximum period of 90 days in the State from where he seeks to supply as a Casual taxable person. A CTP is required to make the advance deposit of GST (based on an estimation of tax liability).

PROCESS OF REGISTRATION:

Apply in GST REG-01 Form, providing the details of PAN, Mobile Number & Email and generate Temporary Registration Number (TRN)

Using the TRN, the applicant has to fill the Part – B of the GST REG-01

The Registration Certificate would be issued electronically after tax deposit has been made.

Validity of Certificate – Period specified in the certificate or 90 days from effective date of registration, whichever is earlier.

EXTENSION OF PERIOD OF REGISTRATION:

Apply in FORM GST REG-11 before the end of validity of registration. An extension can be made for a further period not extending 90 days.

The extension will be allowed only on deposit of additional tax liability for the extended period.

RETURNS TO BE FURNISHED:

GST India Daily

STAY TUNED TO THE RIDE OF GST WAVE

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THANKS

MANIMARAN KATHIRESAN ( ON BEHALF OF GST INDIA DAILY TEAM)