Goods and Services Tax (GST) is a unified indirect tax applicable to businesses engaged in the supply of goods and services in India. GST registration is mandatory for businesses exceeding the prescribed turnover threshold. It simplifies taxation by integrating multiple taxes into a single system. A GST-registered business can avail of input tax credits, ensuring cost efficiency. Compliance with GST regulations prevents legal issues and enhances business credibility. Get your GST registration done to streamline tax processes effortlessly.
GST (Goods and Services Tax) is a unified tax on the supply of goods and services, replacing multiple indirect taxes to simplify the tax structure.
Any business with an annual turnover exceeding ₹20 lakh (₹10 lakh for special category states) must register for GST.
GST is divided into CGST (Central GST), SGST (State GST), IGST (Integrated GST), and UTGST (Union Territory GST).
GST registration can be done online through the GST portal by submitting required documents and details.
Late filing attracts a penalty of ₹50 per day, while tax evasion may lead to higher fines or legal action.
Businesses must file monthly, quarterly, or annual GST returns based on their registration type.
Yes, businesses can claim ITC on tax paid for purchases used for business purposes, subject to conditions.
An E-Way Bill is a document required for transporting goods worth over ₹50,000 between states or within a state.
Small businesses with turnover up to ₹1.5 crore can opt for the composition scheme, paying a fixed GST rate with simplified compliance.
You can check your GST status online using your GSTIN on the GST portal.