GST Registration In Chandigarh Punjab

When filing GST, transactions must be categorized based on the type of customer involved. The two primary types of GST registration are:

A. Registration Under Composition Scheme

The Composition Scheme is designed for small taxpayers to simplify tax compliance. It allows eligible businesses, such as small retailers, eateries, and trading firms, to pay a fixed percentage of their annual revenue as tax instead of collecting it directly from customers. This scheme offers several benefits:

• Requires filing a single quarterly return instead of multiple monthly returns.
• Imposes a lower tax rate, providing a competitive advantage.
• Simplifies bookkeeping and record maintenance under GST norms.

Eligibility Criteria for GST Composition Scheme:

• Must be a registered taxpayer.
• Annual turnover should be less than ₹1 crore.
• Applicable to manufacturers, traders, and restaurants (excluding those serving alcohol).

B. Registration as a Casual Taxable Person

A Casual Taxable Person is someone who occasionally supplies taxable goods or services, such as an event management company organizing events in different states. Businesses must register as a Casual Taxable Person in a particular state before offering goods or services there.

For example, if Mr. A runs a consulting business and provides services in multiple states, he must register as a Casual Taxable Person in each state where he operates to comply with local tax regulations.