A person who is engaged in supply of goods and services is required to take registration in accordance with the provisions of GST. A person who crosses the minimum threshold limit is required to obtain the GST Registration and supposed to comply with the provisions of this Act.
A person whose turnover cross the threshold limit of Rs. 40 lakhs comprising taxable as well as exempted goods and Rs. 20 lakhs comprising taxable and exempted services is required to take GST Registration. However, if a person is exclusively engaged in the supply of exempted goods or services, in that case he is not required to obtain the GST Registration.
The threshold limit to obtain registration in specified states is Rs. 20 lakhs in case of supply of goods and services.
There are certain scenarios wherein a person is required to obtain mandaroty registration irrespective of the turnover of such person.
A tax payer can opt to pay tax by opting for composition scheme instead of paying tax under regular scheme. Any taxpayer whose turnover is less than Rs. 1.5 Crore can avail this facility. Tax payer registered as composition dealer can pay a flat GST rate as prescribed provided they are not allowed to claim input tax credit on the goods or services availed by them.