Category: Registration

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Exemption from registration to Casual Taxable Person till threshold limit for supply handicraft goods expanded by Notification 38/2017 dtd 13-06-2017 and NN 9/2017-IGST dtd 13-10-2017

 

Exemption to Casual taxable person (CTP) from registration u/s 23(2) was allowed for supply of 28 items of handicraft goods till threshold exemption was allowed by Notification 32/2017 dated 15-9-2017 both for inter state and intra state transactions. These handicraft items as per said notifications are exempt when made  by the craftsmen predominantly by hand even though some machinery may also be used in the process.  Further  availability of PAN and generation of e-way bill was made compulsory,  The list of items covered by above notifications has been expanded for certain following further items:

 

  1. In Sl. No. 9, textile handloom products were exempt. Now Handmade shawls, stoles and scarves have been added.
  2. Further 5 items have been added to exemption list of registration for CTP

 

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Whether the registered taxable person is required to display his certificate of registration

Yes, every registered taxable person shall display his registration certificate in a prominent location at his principal place of business and at every additional place or places of business. Further, he has to display his GSTIN in the name board exhibited at the entry of his principal place of business and at every additional place or places of business.

(ICAI FAQ PUBLICATIONS 06-09-2017 REGISTRATION: FAQ NO. 54)

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Who can be the primary authorized signatory

A Primary authorized signatory is the person who is primarily responsible to perform action on the GST System Portal on behalf of the taxpayer. All communication from the GST System Portal relating to taxpayer will be sent to him. He may be resident or nonresident.

(ICAI FAQ PUBLICATIONS 06-09-2017 REGISTRATION: FAQ NO. 50)

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What are the effects of cancellation of registration on input tax credit in respect of inputs held in stock, contained in semi-finished and finished goods and capital goods

Every registered taxable person whose registration has been cancelled shall pay the amount of ITC on inputs which are held in stock and inputs contained in semi-finished or finished goods held in stock on the day immediately preceding the date of such cancellation or the output tax payable on such goods whichever is higher to be calculated in a manner as prescribed. In case of capital goods, the person shall pay the ITC claimed on such capital goods reduced by such percentage points as maybe prescribed in this behalf or tax on transaction value whichever is higher. The above said payment can be made by debiting the electronic credit ledger or through cash ledger.

(ICAI FAQ PUBLICATIONS 06-09-2017 REGISTRATION: FAQ NO. 49)

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Does cancellation of registration have any effect on the tax liability of the person whose registration has been cancelled

No, Cancellation of registration does not affect the tax liability of the person which is incurred prior to the date of cancellation. He shall still be liable to pay the amount of tax and other dues or any other obligation for a period prior to the date of cancellation irrespective of the fact that whether the same is determined before or after the cancellation of registration.

(ICAI FAQ PUBLICATION 06-09-2017 REGISTRATION: FAQ NO. 48)