GST is the biggest tax reform in India, tremendously improving ease of doing business and increasing the taxpayer base in India by bringing in millions of small businesses in India. By abolishing and subsuming multiple taxes into a single system, tax complexities would be reduced while tax base is increased substantially. Under the new GST regime, all entities involved in buying or selling goods or providing services or both are required to register for GST. Entities without GST registration would not be allowed to collect GST from a customer or claim input tax credit of GST paid or could be penalised. Further, registration under GST is mandatory once an entity crosses the minimum threshold turnover of starts a new business that is expected to cross the prescribed turnover.
As per the GST Council, entities in special category states with an annual turnover of Rs.20 lakhs and above would be required to register under GST. All other entities in rest of India would be required to register for GST if annual turnover exceeds Rs.40 lakhs from Financial year 2019-20. There are also various other criteria's, that could make an entity liable for obtaining GST registration - irrespective of annual sales turnover. Entities required to register for GST as per regulations must file for GST application within 30 days from the date on which the entity became liable for registration under GST.
Pied Piper is the leading business services platform in India, offering a variety of services like income tax filing, GST return filing, private limited company registration, trademark filing and more. Pied Piper can help you obtain GST registration in India and maintain GST compliance through a proprietary GST accounting software. The average time taken to obtain GST Certificate is about 3 - 4 working days, subject to government processing time and client document submission. Get a free consultation on GST and GST return filing by scheduling an appointment with a Pied Piper Advisor
Entities involved in supplying of goods or services with an annual aggregate turnover of more than Rs.40 lakhs in most States are required to register for GST mandatorily. In special category states, the aggregate turnover criteria has been reduced to Rs.20 lakhs. In addition to the turnover criteria, there are various other conditions that could mandate GST registration.
Registration under GST is mandatory for entities undertaking inter-state supply of goods and/or services, irrespective of aggregate annual turnover. For example, if a business in Maharashtra supplies goods to a business in Tamil Nadu, then GST registration is required.
All entities having service tax or VAT or central excise registration must be registered under GST mandatorily. Existing taxpayers have been provided with Provisional ID and password for completion of GST migration formalities and generation of GSTIN by the respective tax departments.
Entities involved in the supply of goods or services through e-commerce platforms are mandatorily required to be registered under GST, irrespective of aggregate annual turnover. Hence, sellers on e-commerce platforms like Amazon, Flipkart and Snapdeal would have to register under GST mandatorily.
Inclusive of all taxes & govt. fees
Inclusive of all taxes & govt. fees
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