Which warehousing is exempt from GST?

Smaller warehouses with annual rent income of below Rs 20 lakh are however exempted from GST. This is a major relief as, according to CARE research report, approximately 90 per cent of the warehousing space controlled by unorganised sector players and are less than 10,000 square feet.

What is registered warehouse under GST?

a place from where the business is ordinarily carried on, and includes a warehouse, a godown or any other place where a taxable person stores his goods, supplies or receives goods or services or both; or.

Who is required to compulsory register under GST?

In the GST Regime, businesses whose turnover exceeds Rs. 40 lakhs* (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. This process of registration is called GST registration. For certain businesses, registration under GST is mandatory.

Is warehousing of rice exempted from GST?

As per GST Law 2017, there is no GST payable on Services by way of storage or warehousing of rice. So the rate of GST payable on Services by way of storage or warehousing of rice is nil rate. The most essential goods and services attract nil rate of GST under Exempted Categories.

Do transporters need to register for GST?

Under GTA, a transporter must obtain a GST registration based on their aggregate turnover exceeding INR 20 lakhs or INR 10 lakhs for a unique category in a financial year. GTA has to pay 12\% GST on all the GTA services for the financial year provided by them.

How do I register a warehouse?

Documents Required for Warehouse Registration

1. Authoriser or Associate Authoriser representative’s photograph.
2. Proof of identity of the applicant (as per Registration of Warehouse Rules, 2017)
3. Address and identity proof of Authoriser or Associate Authoriser representative.
4. Standard operating procedure.

Is GST registration mandatory for transporters?

Thus, a GTA does not have to register under GST if he is exclusively transporting goods where the total tax is required to be paid by the recipient under reverse charge basis (even if the turnover exceeds the threshold limit).

Is GST applicable for rice mill?

5\% GST on Milling of Wheat into Flour or Paddy into Rice for distribution by State Govts under PDS: CBIC.

What all comes under handloom?

India Handloom Brand

• Arni Silk Saree.
• Balarampuram Cotton Saree.
• Balarampuram Dhoti.
• Banaras Brocade Silk Saree.
• Banarasi Butidar Silk Saree.
• Banaras Butidar Dress Material.
• Banarasi Cutwork Fabric.
• Banaras Cutwork Silk saree.

Are transporters exempt from GST?

Thus, it is to be seen that mere transportation of goods by road, unless it is a service rendered by a goods transportation agency, is exempt from GST. Under GST laws, the definition of Goods Transport Agency is provided in clause (ze) of notification no. 12/2017-Central Tax (Rate) dated 28.06. 2017.

Do godowns need to register under GST?

Thus, if any godown, warehouse or transport do fall under the criteria for obtaining GST registration, they are still required to register themselves under GST by filing Form GST ENR-01.

Who is required to maintain records of consigner under GST?

According to the GST Act, all owner or operator of warehouse or godown or any other place used for storage of goods and every transporter, irrespective of whether they have GST registration are required to maintain records of the consigner, consignee and other relevant details of the goods stored or transported.

What is the difference between GST registration and gstin?

GST Registration is the application for GST Number or GSTIN (GST Identification Number). Under the GST (Goods and Service Tax) Regime, it is mandatory for to have GSTIN to collect, pay GST and claim the Input Tax credit. Compulsory Registration: Under certain scenarios, the businesses have to get registration under GST.

What is GST and how will it affect your business?

Under GST, the requirement for compliance from businesses would be extensive to reduce revenue leakage for the Government, while also attempting to improve ease of doing business in India by digitising the administration of GST through the GSTN NETWORK.