Mainly there are two types of GST registrations: 1. Regular GST Registration This is normal GST registration wherein a person is registered without any deposit and falls under the normal category of person. 2. Composition Registration Any Entity/person having a business turnover of less than Rs. 1.5 Cr. During the Financial year, One can enroll under this scheme wherein a flat rate of GST is required to be paid on sales. However, he is not eligible to claim any input tax credit. A person has to exercise his option once before the start of the Financial year to go into this scheme. However, he can continue in that scheme until he opts out.