? Classification of Registration under GST
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Registration as per Threshold Limits
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Compulsory Registration
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Persons Not Liable for Registration
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Voluntary Registration
? Threshold Limits for GST Registration
| S.No. | Category | Threshold Limit (Aggregate Turnover - All India Level) |
|---|---|---|
| 1 | Services / Services + Goods | ₹20 Lakhs |
| 2 | Goods Only (Traders / Manufacturers etc.) | ₹40 Lakhs |
? Power to Grant Exemption from Tax
This refers to the authority to grant tax exemption by special order:
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The Central Government has the power to grant special exemptions in extraordinary situations or in the public interest.
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Such exemptions can only be granted based on the recommendations of the GST Council.
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It is not necessary to publish such an exemption order in the Official Gazette.
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This is an ad-hoc exemption and may be given with retrospective effect (from a past date).
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Specific exemptions can be granted to certain classes of persons or regions.
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The government can also grant such exemptions to Public Sector Undertakings (PSUs).
? GST Refund Process
✔ If a taxpayer has overpaid tax or mistakenly paid tax on non-taxable goods or services, they can apply for a refund.
✔ The refund application must be submitted electronically using Form GST RFD-01.
✔ The application must be filed within 2 years from the relevant date.