How many Annual Turnover is required for take New GST Registration Number in Service Provider as per GST LAw
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GST Number Required
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Registration is mandatory if the turnover is >₹20 lacs (except special category states). Voluntary registration can be applied for even without crossing the turnover limit.
GST REGISTRATION IS OPTIONAL BUT NOT COMPULSORY. LETS TAKE AN EXAMPLE
A PERSON ENGAGED IN BUSINESS AND TURNOVER OF ONLY 50000 DURING A FINANCIAL YEAR IS NOT REQUIRED TO REGISTER UNDER THE GST ACT.
A PERSON ENGAGED IN BUSINESS AND TURNOVER OF ONLY 50000 DURING A FINANCIAL YEAR IS NOT REQUIRED TO REGISTER UNDER THE GST ACT.
For services turnover should exceed 20 lakhs rupees
You can take Voluntary registration if needed.
If turnover cross 20 lakh (except special category states) than mandatory to take GST registration, otherwise voluntary u can takeq
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