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Registration and Document Under GST. Act
Every dealer liable to pay tax under section 3, 3A or 26 of the Act, is required to apply in Form-1 to registering authority within 30 days from liability to pay tax under the Act. No fee is provided for such application. For separate place of business under different registering authority, separate applications are required to be made.
Provisions for voluntary registration were deleted with effect form 1-08-98 but reintroduced with effect from 1-4-99. Rs.25 000/ required to be deposited against probable tax liability.
Registering Authority can after hearing a dealer by an order in writing require the dealer to furnish such security within a specified time, before the registration.
Registration certificate is liable to be cancelled for non filing of returns for three or more consecutive quarterly returns.
A registered dealer can obtain License, who is continuously holding Registration Certificate at least for one year and whose turnover of sales to another Registered dealer or inter-state sales or export sales exceed Rs. One Lakh during a year.Licensed dealer can purchase goods for export without payment of tax. Licensed dealer can also purchase goods specified in Schedule II-B without payment of tax against declaration for local sale. The time limit for resale, inter-state sale and export is 12 months from the date of purchase.
A registered dealer can obtain Recognition if the value of taxable goods manufactured by him exceeds Rs. 5,000/- during a year and his turnover exceeds the limit specified under section 3. A recognized dealer can purchase raw materials, processing materials and consumable stores (other than prohibited goods)against declaration without payment of tax. However, such dealer is required to pay purchase tax under section 15A of the Act 2% on such purchases.
A registered dealer can obtain a Permit if the turnover of purchases on behalf of his Principal exceeds Rs.30, 000/- during year. A permit holder can purchase goods against declaration without payment of tax or at concessional rate on behalf of his principal who is licensed dealer or Recognized dealer.
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