What is GST Registration

In the GST Regime, businesses whose turnover exceeds Rs. 40 lakhs* (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. This process of registration is called GST registration.For certain businesses, registration under GST is mandatory. If the organization carries on business without registering under GST, it will be an offence under GST and heavy penalties will apply.GST registration usually takes between 2-6 working days. We’ll help you to register for GST in 3 easy steps.*CBIC has notified the increase in threshold turnover from Rs 20 lakhs to Rs 40 lakhs. The notification will come into effect from 1st April 201Who Should Register for GST?Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)Businesses with turnover above the threshold limit of Rs. 40 Lakhs* (Rs. 10 Lakhs for North-Eastern States, J&K, Himachal Pradesh and Uttarakhand)Casual taxable person / Non-Resident taxable personAgents of a supplier & Input service distributorThose paying tax under the reverse charge mechanism

Who Need GST Registration

Person who supplies via e-commerce aggregatorEvery e-commerce aggregatorPerson supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person*CBIC has notified the increase in threshold turnover from Rs 20 lakhs to Rs 40 lakhs. The notification will come into effect from 1st April 2019.What is GST Registration Process?The Goods And Services Tax (GST) Registration services at ClearTax helps you to get your business GST registered and obtain your GSTIN.ClearTax GST experts will guide you on the applicability and compliances under GST for your business and get your business registered under GST.

1. The guidelines issued by the Ministry of Home Affairs (MHA) Government of India vide order no. 40-3/2020-DM-I(A) dated 15.04.2020 amongst other things specifies that all industrial and commercial establishments, work places, offices, etc. shall be required to obtain medical insurance for the workers mandatorily before starting their operations after the lockdown (refer para 21 read with sr. no. 5 of Annexure-II to the given order). IRDAI in pursuant to the said order vide circular dated 16.04.2020 has advised insurers to offer comprehensive health insurance policies to individuals or groups to enable the above-mentioned organizations to comply with the government’s directions. The regulator has also advised the insurers to devise these comprehensive health insurance products with simple wordings and conditions and at an affordable cost for the stated organizations.2. Now the following aspects are yet to be clarified concerning the above-mentioned guidelines:a. Whether medical insurance for the workers already covered under the ESI Act, 1948 (i.e. those who earn less than Rs. 21,000/-) and thereby covered for various medical benefits (including in-patient treatment) is also to be obtained separately over and above the ESI coverage for compliance with the MHA guidelines? It would appear that the MHA guidelines intend to cast a wider net and mandate the provision of group/individual medical insurance also to employees not covered under the ESI Act, 1948 and therefore a separate cover for those already under the ESI may not be required.b. Will the mandatory medical cover be offered only till the pandemic is over? Guidelines are silent on whether the mandatory medical insurance will have to be provided till a certain period and if yes, what could be that period? Clarity on the period will enable insurance companies to come out with products to limit the cost of insurance.c. Whether a group policy is mandatory or even individual policy can be taken? Guidelines only provide that the medical insurance for all the workers would be mandatory. Therefore it would be optional for the employer to obtain group medical insurance cover (without individual underwriting) or even individual medical insurance cover considering the costs and the benefits.d. The cost of such mandated insurance also needs to be considered and capped to avoid putting an unreasonable burden on struggling sectors. Therefore clarity on the same is also required.e. The issuance of group cover requires time to access the risks and determine the premium cost. Therefore clarity is required on whether the mandatory cover is to be compulsorily obtained before starting the operations or the same can also be obtained within a reasonable time.f. It may also be noted that the revised guidelines issued by MHA on 01.05.2020 does not include the clause on obtaining the mandatory cover as provided under the earlier guidelines dated 15.04.2020. Therefore clarity is also required in this aspect.