It is a destination based tax on consumption of goods and services. only value addition will be taxed and burden of tax is to be borne by the final consumer.
Service Providers: Any person or entity who provides service of more than Rs.20 lakhs in aggregate turnover in a year Special category states, the GST turnover limit for service providers has been fixed at Rs.10 lakhs.
Goods Suppliers: Any person who is engaged in the exclusive supply of goods whose aggregate turnover crosses Rs.40 lakhs in a year except special category states. Any person or entity irrespective of business turnover can obtain GST registration at any-time.