Every business whose sales in a financial year is more than Rs.20 lakhs ( Rs.40 lakh for a supplier of goods) has to mandatorily register for Goods and Services Tax.
In case you are an exporter of goods or services (for example IT business with clients out of India), you need to mandatorily register for GST, even if the turnover is less than Rs. 20 lakhs.
GST registration is otherwise necessary to smoothly run a business as it is required to deal with established companies, corporates, to participate in government tenders and to run an e-commerce business. Get in Touch with us now to get your GST registration at just Rs. 1500/-
What is GST?
GST is a product of India’s largest tax reform, which has greatly improved the ease of doing business and also increased India’s taxpayer base by including millions of small businesses in a single uniform tax system. Tax complexities have been significantly reduced due to the introduction of GST in India. Because multiple tax systems are abolished and incorporated into a single simple tax system, under the TPS. The GST regime requires that all entities that are involved in the purchase or sale of goods or the provision of services or both are required to register and obtain GSTIN.
Who is eligible to obtain GST registration?
Businesses are required to get a GST registration if they fall in the below categories.
1. Aggregate turnover
A service provider that is providing services valuing more than Rs.20 Lakhs aggregate in a year is needed to get GST Registration. Whereas an entity that is engaged exclusively in the supply of the goods whose aggregate turnover crosses Rs. 40 lakh is required to get GST registration mandatorily.
2. Interstate Business
An entity should get GST registration in India if they are involved in supplying goods from one state to another.
3. E-commerce platform
Any individuals that supply goods or services through the E-commerce platform should get the GST registration in India. The individuals shall register under GST irrespective of the turnover. To commence with an E-commerce business it is necessary to obtain the GST registration.
4. Casual taxable persons
An individual who is undertaking the supply of Goods or services seasonally or intermittently through a temporary stall or shop is required to get GST registration. Irrespective of the turnover the individual should apply for GST registration
5. Voluntary registration
An entity can obtain GST registration voluntarily, earlier an entity that has a voluntary GST registration was not able to surrender GST registration for up to a year. After the recent revisions, voluntary GST registration can be surrendered by the applicant at any time.
Documents Required For GST Registration
Property Tax Receipt
Lease / Rent Agreement
Passport Size Photo