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MOST POPULAR FAQ (FREQUENTLY ASKED QUESTIONS) ABOUT GST :-


Q. What is Goods and Services Tax (GST)?

A. It is an indirect tax levied on consumption of goods and services. It is proposed to be imposed at all stages right from production up to final consumption of goods with credit of taxes paid at previous stages available as setoff.


Q. Which of the existing taxes are proposed to be absorbed under GST?

A. The GST replaces the following taxes: • Central Excise duty • Additional Excise duty • VAT/Sales tax • Taxes on lotteries, betting and gambling • Luxury tax • Entry tax • Central Cess.


Q. What are the types of GST?

A. There are four types of GST: • Central Goods and Services Tax(CGST) • State Goods and Services Tax(SGST) • Integrated Goods and Services Tax (IGST) • The Union Territory Goods and Services Tax (UTGST)


Q. When did GST come into effect?

A. It came into effect on July 1, 2017.


Q. What are the benefits of GST registration?

A. The various benefits of GST are listed below: • Elimination of multiple taxes. • More employment. • Increase in GDP • Increase in Revenue • Easy process of filing returns and documentation.


Q. Who should register for GST?

A. The following should register for register irrespective of their turnover: • E-commerce operator. • Businesses selling taxable goods outside India • Non-resident taxable person • Casual taxable person


Q. What is the exemption limit in GST?

A. Businesses in India with a turnover revenue of 20 lakhs and above will have to register and file for GST returns. While those in the north east and hill states with a turnover revenue of under 10 lakhs will be exempt from filing the GST.


Q. How can one pay GST?

A. One can pay GST online. All the taxes are paid online, and there is no manual filing of returns. The payment modes are debit cards, credit cards, cheque, and Internet banking.


Q. Do I need PAN for GST Registration?

A. Yes, PAN is mandatory for applying for GST Registration.


Q. Is GST charged on exported goods and services?

A. No. GST is a consumption-based tax, and since the consumption place is outside India, there is no GST on exported goods and services.


Q. Which goods and services are exempted from GST?

A. The exempt goods and services are petroleum products, alcohol/liquor for human consumption, entertainment and amusement, and electricity.


Q. Who decides rates for the levy of GST?

A. The CGST and SGST are levied at rates jointly decided by the Centre and states. The rates are notified on the recommendations of the GST council.


Q. Can a person operate in different states with the same PAN?

A. No, one cannot operate with the same PAN in different states.


Q. What is GSTIN?

A. GSTIN is a unique code that is assigned to each taxpayer, and it is state-wise and PAN-based.


Q. Can one sell products online without GST?

A. No, one cannot sell products online without GST registration once their turnover reaches the limit set by the authorities.


Q. Can the registration certificate be downloaded from the GSTN portal?

A. Yes, in case registration is granted, the applicant can download the Registration Certificate from the GST common portal.


Q. Can a person without GST registration claim ITC and collect tax?

A. No. A person without GST registration can neither collect GST from his customers nor claim any input tax credit of GST paid by him.

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