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GST Registration Online GST Registration Process
Goods and Service Tax (GST) is a comprehensive, multi-stage, destination-based tax that has subsumed all the indirect taxes. Under this, businesses need to obtain GST registration to carry out their business smoothly in India. In this article, we will talk about the online GST registration process, penalty for not obtaining GST registration and everything else you need to know about GST registration in India.
What is GST Registration?
Every business entity that deals with the supply of goods and services and has an annual turnover of more than Rs. 40 lakhs (Rs. 10 lakhs for northeastern and hill states) is required to obtain GST registration. GST registration is a process of obtaining a unique Goods and Service Tax Identification Number (GSTIN) from the government.
It helps in maintaining a proper record of the business transactions, and also enables the businesses to avail input tax credit. Moreover, it is mandatory to have GST registration for businesses to carry out their operations in India legally.
Online GST Registration Process
The online GST registration process is quite simple and quick. Here is a step-by-step guide to the same:
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