GST: Why And When You Need To Pay And How To Claim A Refund

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Paying GST

An individual is required to register under the Goods and Services Tax (GST) if his/her aggregate annual turnover of taxable supplies exceeds the specified threshold limit of 20 lakh for most states and Union Territories, except for special category states where it is Rs 10 lakh.


Mandatory Registration

Certain categories of individuals, such as those providing inter-state supplies, are required to register for GST, irrespective of their turnover. After registration, individuals need to collect GST on their supplies, file regular returns, and adhere to GST compliance regulations set by the Indian tax authorities.

GST Filing Process

The process begins with GST registration, where individuals obtain a unique GSTIN. Once registered, they can access the GST portal to log in and choose the appropriate GST return form based on their business nature. After this, one has to fill all the necessary details and submit the form. Once the process is completed, an acknowledgment receipt is generated.

File GST

File Within Due Dates

Filing GST returns within the specified due dates is essential to avoid penalties, as well as to ensure compliance with GST regulations.


Who Is Eligible For GST Refund

Eligibility for GST refunds arises under specific circumstances, and the process is defined under Section 54 of the CGST Act, 2017.


GST Refund Scenarios

Refunds can be claimed for various scenarios, including zero-rated exports, inverted duty structure, or deemed exports.

Compiled by Syed Muskan


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