GST Registration Eligibility Entities who buy or sell goods, provide services or both are required to obtain GST registration. An entity without GST registration cannot collect GST from customers or claim input tax credit of GST paid. Further, GST registration is mandatory once a dealer crosses the minimum threshold or he starts a new business having plans to exceed the prescribed threshold.
GST Turnover Criteria
The Goods & Services Tax (GST) Council has announced that businesses in the Northeastern and hill states with annual turnover below Rs.10 lakh would not require GST registration, while the threshold for GST registration exemption in rest of India would be an annual turnover of Rs.20 lakh.
Eligible entities must file GST registration application within 30 days from the date of the dealer‟s liability for obtaining GST registration.
Note: any person or entity not liable to obtain GST registration can also voluntarily obtain GST registration for taking input credit.
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