GST/HST does not need to be charged on exempt supplies (e.g., most health, financial, educational services), zero-rated supplies (e.g., basic groceries, exports), or if the business is a small supplier with less than $30,000 in revenue over four consecutive quarters. Other exemptions include specific non-profit activities and certain, in-kind barter transactions.
GST is leviable only if aggregate turnover is more than 20 lacs. (Rs. 10 lacs in 11 special category States). For computing aggregate supplies turnover of all supplies made by you would be added.
If you haven't specifically registered for GST, you are not registered for GST. You won't have to charge GST, and you can't apply for GST refunds. If you HAVE registered for GST, even if you aren't required to, or you aren't over the $75,000 threshold, you must collect and pay GST.
All replies If you earn under $75000 and expect to earn under that much then you don't need to register for GST. This means you can't charge GST or claim back the credits. It has no effect on other people charging you GST.
You must register for GST if: your business has a GST turnover of $75,000 or more. your non-profit organisation has a GST turnover of $150,000 or more.
You must register for the GST/HST. Your effective date of registration is no later than the day of the supply that made you exceed $30,000. You have to start charging GST/HST on the supply that made you exceed $30,000.
Businesses dealing in goods are exempt from GST if their annual aggregate turnover is below INR 40 lakhs. For businesses in hilly and northeastern states, this threshold is reduced to INR 20 lakhs to address regional challenges. Service providers are exempt from GST if their turnover is under INR 20 lakhs annually.
Ensure your business is operating within the state only. Choose an e-commerce platform that allows online selling without GST registration. Some platforms include Flipkart, eBay, Amazon, etc. Create your account on your preferred platform and make a comprehensive product listing.
What is the Minimum Turnover Limit for GST Registration? Businesses are required to register for GST and pay tax on their annual turnover if their annual revenue exceeds Rs. 40 lakhs in the case of goods supplied and Rs. 20 lakhs for the supply of services.
Exports and supplies to SEZs are classified as zero-rated supplies, meaning no GST is charged on them. Yet importantly, the supplier can still claim a refund of unutilised input tax credit—either by exporting under a bond/Letter of Undertaking (LUT) without paying IGST or by paying IGST and claiming the refund later.
Certain government services and small businesses below the GST registration threshold also qualify for exemption. It's important to note that exempt supplies differ from non-GST supplies. Exempt supplies, like healthcare or education services, are part of the GST system but are not taxed.
If you were required to charge the GST/HST, but did not charge it, you are still liable for the tax. You have to include the GST/HST that you should have charged in the reporting period during which you should have charged the tax.
Businesses with annual sales of Rs. 40 lakhs or more for goods, and Rs. 20 lakhs or more for services, must register for GST. If the turnover exceeds the allowed threshold, there is a penalty for failing to register under GST.
Individuals making Nil Rated and Exempt supplies (e.g., fresh milk) are also exempt. Those engaged in activities not covered under the supply of goods and services (e.g., petroleum products) do not require GST registration. Individuals supplying goods under reverse charge mechanisms do not need to register for GST.
The GST/HST break includes certain qualifying goods, such as:
By zero rating it is meant that the entire value chain of the supply is exempt from tax. This means that in case of zero rating, not only is the output exempt from payment of tax, there is no bar on taking/availing credit of taxes paid on the input side for making/providing the output supply.
GST-Free Items:
40 lakhs for goods and Rs. 20 lakhs for services. Businesses with annual revenues below these limits are not mandated to register for GST; however, they may opt to do so voluntarily.
List of Goods Exempt from GST in India
If your business has a GST turnover of $75,000 or more
You must register for GST when your business has a GST turnover (gross income minus GST) of $75,000 or more. This is known as the 'GST threshold'.
Yes, most contractors must charge GST or HST once their total worldwide taxable supplies exceed $30,000 over four consecutive calendar quarters, or in a single quarter. This requirement applies to all independent contractors in Canada, including those providing construction, renovation, consulting, or trade services.
It usually depends on how much money your business makes in a year (your aggregate annual turnover). For Goods: If your business mainly sells goods, you need to register for GST if your total sales in a financial year go over ₹40 lakhs. In some special states, this limit is ₹20 lakhs.