General GST FAQs
1. What is GST?
GST (Goods and Services Tax) is a destination-based indirect tax levied on the supply of goods and services in India. It has replaced VAT, service tax, excise duty, and several other indirect taxes.
2. Who needs to register for GST?
Any person or business whose aggregate turnover exceeds the prescribed threshold limit (₹40 lakh/₹20 lakh depending on state and business type) must register under GST. Certain businesses such as e-commerce operators must register irrespective of turnover.
3. What are the different types of GST?
India has a four-part GST structure:
- CGST – Central Goods and Services Tax
- SGST – State Goods and Services Tax
- IGST – Integrated Goods and Services Tax (Interstate)
- UTGST – Union Territory GST
4. What is Input Tax Credit (ITC)?
Input Tax Credit allows businesses to claim credit for the GST paid on purchases, which can be used to reduce GST liability on sales.
5. What are GST returns?
GST returns are monthly/quarterly statements filed by taxpayers showing details of their sales, purchases, ITC, tax liability, and payments. Common forms include GSTR-1, GSTR-3B, and GSTR-9.
GST Registration FAQs
1. Is GST registration free?
Yes, GST registration is completely free of cost on the GST portal.
2. How long does it take to get a GSTIN?
Typically 1–7 working days, depending on document verification and departmental approval.
3. What documents are required for GST registration?
Documents include:
- PAN card
- Aadhaar card
- Business address proof
- Bank account details
- Photograph of owner/partners/directors
GST Return Filing FAQs
1. What is GSTR-1?
GSTR-1 is a monthly/quarterly return containing details of outward supplies (sales) made by the taxpayer.
2. What is GSTR-3B?
GSTR-3B is a monthly summary return where taxpayers report total sales, purchases, ITC, and GST liability.
3. What happens if GST return is filed late?
Late filing attracts a late fee of ₹50 per day (₹20 per day for NIL return) plus interest on tax liability.