GST Registration

The Goods and Services Tax (GST) represents a significant shift in India's indirect tax structure, amalgamating various taxes into a unified system. Under the GST regime, goods and services are taxed under a single law, simplifying the tax landscape. Taxes are levied at a single rate, with collections divided between the Central and State Governments as CGST, SGST, or IGST.

Threshold Limit for Registration:

GST registration is mandatory for business entities based on turnover or activities. Businesses dealing in goods or services must apply for GST registration if their aggregate turnover for a financial year exceeds Rs. 40 lakhs or Rs. 20 lakhs, respectively. However, for businesses operating in the North Eastern States, the threshold is reduced to Rs. 20 lakhs and Rs. 10 lakhs, respectively. Many dealers also opt for voluntary registration under GST due to its benefits.

GST registration in India is conducted entirely online. It ensures seamless flow of Input Tax Credit and provides recognition as a registered supplier.