What is Regular under GST ?

Regular under GST

The following tax payers needs to be mandatory registered under regular scheme of GST

1. The tax payers whose turnover is more than Rs 1.5 crore.
2. The tax payers who are dealing in Inter state of goods or services or both.
3. The tax payers related to Service industry other than restaurant sector.

Advantages of GST Registration under Regular Scheme:

1. The tax payers registered under regular scheme has to file returns monthly. Currently GSTR 3B and GSTR 1 are required to be filed.
2. Regular tax payers can collect GST from their customers.
3. Regular tax payers can avail input tax credit of GST Paid on purchase of goods or services or both.

Refer our site on how you can benefit from EZTax.in GST Accounting App ?

Accounting, GST, Income Tax, TDS
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