Goods and Services Tax (GST)


Goods and Services Tax(GST)

GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage. The final consumer will thus bear only the GST charged by the last dealer in the supply chain, with set-off benefits at all the previous stages.

Liability for GST registration in India:

Region Aggregate Turnover
Liability to Register
Liability for Payment of Tax
North East India Rs 9 Lakhs Rs 10 Lakhs
Rest of India Rs 19 Lakhs Rs 20 Lakhs

Composition Scheme:

For a small dealer whose turnover not more than Rs 75 Lakhs.

S.No. Regular GST Rates: Composition Scheme Rate
1 0% 2% for Manufacturer
2 5% 5% for Suppliers (Food or any other human consumption or any drink (other than alcohalic liquor for human consumption))
3 12% 1% for other Supplies
4 18% -
5 28% -

GST Registration/Migration:

- Migration New Registration
Proprietor Rs 2599/- Rs 4999/-
Partnership Rs 3599/- Rs 5999/-
LLP Rs 3999/- Rs 6999/-
Company Rs 5999/- Rs 8999/-