Sec 2(107) – Taxable person

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Sec 2(107) – Taxable person 2017-04-14T04:02:10+00:00
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    #1354 |

    “taxable person” means a person who is registered or liable to be registered under section 22 or section 24;

    Priya MadrechaPriya Madrecha
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    Every ‘supplier’ shall be liable to be registered under the GST law in the State (or Union territory) from where he makes any taxable supply of goods or services or both, if his aggregate turnover in a financial year exceeds the specified limit (Rs. 20 Lacs or Rs. 10 Lacs – refer Section 22 for details).
    The following persons (amongst others) are also compulsorily required to obtain registration, whether or not their turnover exceeds the threshold limit:
    •    Non-resident taxable persons, casual taxable persons making any taxable supply
    •    Persons making any inter-State taxable supply;
    •    Recipients of supplies of goods or services that are notified for tax on reverse charge basis;
    •    Persons such as agents who make taxable supplies on behalf of other taxable persons;  •     Electronic commerce operator and persons effecting supplies through them;
    •    Person supplying OIADAR services from a place outside India to an unregistered person in India.

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