Individuals who set-up seasonal shops are casual taxable persons. They need to pay an advance amount as their GST liability, which is calculated on the anticipated amount of income earned during the time of that seasonal shop. The duration for GST registration is three months.
Who Should Register GST?
The following bodies are bind to register for GST.
- Individuals already registered for indirect taxes before the implementation of GST.
- Businesses were having annual revenue of more than Rs. 40 lakhs.
- Businesses were having annual revenue of Rs. 10 lakhs in North-Eastern states, Jammu & Kashmir and Himachal Pradesh.
- Businesses that deal via e-commerce aggregators
- E-commerce aggregators
- Casual taxable persons
- Non-residents taxable individuals