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GST REGISTRATION OF BUSINESS

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Trex Gaming_67

164 Points Posted on 26 November 2021

in a single state I'm involved in 2 types of business in different business verticals (different risk and return) I can take 2 separate GST registration for the same ,but is it compulsory ?? can I continue doing both my business under a single GSTN?

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Quick Summary

This discussion explores whether a business operating in two different verticals within a single state needs to obtain two separate GST registrations or if a single GSTN is permissible. While the general turnover threshold for GST registration is INR 40 lakh (or INR 10 lakh in certain states), the key factor for multiple businesses is whether they share the same PAN. If the businesses have different PANs, separate GST registration is compulsory; otherwise, a single registration may be an option.

Rama chary Rachakonda

Master in Accounts & high court Advocate

7021 Points Posted on 26 November 2021

All the businesses supplying goods whose turnover exceeds INR 40 lakh in a financial year are required to register as a normal taxable person. However, the threshold limit is INR 10 lakh if you have a business in the north-eastern states, J&K, Himachal Pradesh, and Uttarakhand.