GST Registration (Voluntary Registration) By Prapti Mishra


Voluntary Registration under GST Regime

A person though not liable to be registered under section 22 or section 24 may get himself registered voluntarily.

Person not liable for registration

  • Person engaged exclusively in non-taxable or wholly exempt from tax.
  • An agriculturist, in so far as supply of procedure out of cultivation of land.
  • Government may exempt any class of person on the recommendation of the council.

Advantages and Disadvantages of Voluntary Registration

Advantages

  • You can do B2B transactions.
  • Other Registered dealers will not have to pay tax in Reverse Charge.

Disadvantages

  • Once Registered, you have to pay taxes on all supplies, even if the turnover is less than 20 lakhs.
  • Even if no transactions in any month, the return will have to be filled.

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