Table of Contents
Can a 17 year old have a GST number?
Answer: This has no age limit, if it’s a minor it need parents authorization.
Who is eligible for GST number?
Who should register for GST? All the businesses supplying goods whose turnover exceeds INR 40 lakh in a financial year are required to register as a normal taxable person. However, the threshold limit is INR 10 lakh if you have a business in the north-eastern states, J&K, Himachal Pradesh, and Uttarakhand.
Who are not eligible for GST registration?
Liability to register However, small businesses having all India aggregate turnover below Rupees 20 lakh (10 lakh if business is in Assam, Arunachal Pradesh, Himachal Pradesh, Uttarakhand, Manipur, Mizoram, Sikkim, Meghalaya, Nagaland or Tripura) need not register.
Can minor apply for GST registration?
A registered person, other than a person to whom a registration has been granted under rule 12 or a person to whom a Unique Identity Number has been granted under rule 17, seeking cancellation of his registration under sub-section (1) of section 29 shall electronically submit an application in FORM GST REG-16.
Do minors get GST?
Minors have no capacity to contract and hence GST registration cannot be obtained with the PAN number of a minor. Minors are also restricted from holding banking current accounts and hence it will not be possible to register.
Who is eligible for GST registration?
Eligibility for GST Registration. 1. Within GST, you will not be collecting tax on sales, but on supply. Therefore, stock transfer, freebies and even discounts will attract GST. If your current combined supply is over Rs. 25 lakh, you are eligible for GST Registration (if your business operates exclusively in the North Eastern states, Rs. 10 lakh).
What is the age limit for GST registration in India?
There is no age limit for GST Registration you can get registered under gst at any age you dared to do business. There is no age upper limit for getting GST registration. However the minimum age must be 18 years and above How this 19-year-old earns an extra $3600 per week.
How long does it take to get GST registration?
If you already have a VAT Registration, Service Tax Registration or are registered under any of the laws that are to be subsumed by GST, you will be granted provisional registration. Once you are granted provisional registration, you must apply for GST Registration within six months.
What is the penalty for not taking the GST registration?
As per section122 of CGST act, any taxable person who fails to take GST registration though he is liable to be registered under the act, then the penalty of ₹10,000 or amount of tax evaded or any short tax liability whichever is higher.