MODEL GST LAW – Quick Facts

GST Model Law

Posted by on September 3, 2016

Taxable Person:

  • Any company with annual turnover of nine lacs (five lacs for NE states)
  • Any tax payer who is already registered under any of the current taxation law
  • Persons making inter-state supply
  • Central Government, a State Government or any local authority

Non-taxable Person

  • Any person providing services as employee to employers will not be considered under taxable person under GST
  • Any person exclusively engaging in supply of goods or services that are not taxable under GST
  • Any taxable person receiving services for personal use of value not exceeding (to be determined) in a year

Registration is due within 30 days of when the business becomes eligible within the state where the business is liable to pay tax.

Annual return will be due before 31st December of every completed financial year (to be submitted electronically with the audited copy of annual accounts)

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