Taxable Person under GST
Taxable person under GST is anyone who is registered under GST or required to be registered under GST. Various criteria’s like turnover, business activity or transaction have been specified in GST Act, which details persons liable to be registered under GST. Further, any person having registration under Service Tax, VAT or Central Excise on the date of GST coming into force will automatically be considered a taxable person under GST.
GST Definition of Taxable Person
The term “person” has been defined in Section 2(73) of the GST Act as follows:
- An Individual
- A Hindu Undivided Family
- A Company
- A Partnership Firm
- A Limited Liability Partnership
- An Association of Persons or a Body of Individuals, whether incorporated or not, in India or outside India
- Any Corporation Established by or under any Central, State or Provincial Act, or a Government Company
- Any body corporate incorporated by or under the laws of a country outside India
- A co-operative society registered under any law relating to cooperative societies
- A local authority
- Government
- Society as defined under the Societies Act, 1860
- Trusts Artificial judicial person, not falling within any of the above categories
The definition for taxable person under GST is similar to the definition in the existing Service Tax law. Its important to note that the definition for taxable person includes all kinds of judicial persons (artificial persons) also and not only natural persons.
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