Goods and Service Tax Registration 

GST stands for Goods & Services Tax, a consumption-based indirect tax that was introduced in India on July 1, 2017. It replaced a host of earlier indirect taxes (such as excise duty, VAT, service tax, etc.) and is levied by both the Central and State Governments on the supply of goods and services.

How GST Works

GST is applied on every transaction involving the supply of goods or services. Different goods and services may attract different tax rates, and the tax is collected at each stage of the supply chain. Registered businesses can claim input tax credit on the tax paid for purchases, helping to reduce the overall tax burden.

Who Must Register for GST?

Registration under GST is mandatory for:

• Businesses with aggregate annual turnover exceeding the prescribed thresholds:
  • For the supply of goods:
    • Normal category states: Registration is required if the aggregate turnover exceeds ₹40 lakhs.
    • Special category states (including most North Eastern and hilly states): Registration is required if the aggregate turnover exceeds ₹20 lakhs.
  • For the supply of services:
    • Normal category states: Registration is required if the aggregate turnover exceeds ₹20 lakhs.
    • Special category states: Registration is required if the aggregate turnover exceeds ₹10 lakhs.
• Certain categories regardless of turnover, such as interstate suppliers, casual taxable persons, non-resident taxable persons, and those required to pay tax under the reverse charge mechanism.

Note: Even if a business’s turnover is below these thresholds, it may opt for voluntary registration to avail input tax credit benefits and enhance business credibility.

Consequences of Non-Compliance

Failure to register under GST when required can result in serious legal consequences, including:

• Monetary fines and interest on unpaid taxes.
• In severe cases of deliberate evasion, prosecution and imprisonment.

Registration Process

GST registration can be completed online through the official GST portal (www.gst.gov.in). It is important to ensure that all details and supporting documents (such as PAN, Aadhaar, business address proof, and bank details) are accurate to avoid delays or rejections.

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