GST Registration in India
Goods and Services Tax (GST) registration is mandatory for businesses exceeding the prescribed turnover threshold or engaging in interstate supply of goods and services.
Key Features:
- Applicable to businesses with an annual turnover of ₹40 lakh (₹20 lakh for services) or more (threshold varies for special category states).
- Provides a GSTIN (Goods and Services Tax Identification Number).
- Enables tax collection and filing of GST returns.
Benefits of Registration:
- Legal compliance and input tax credit.
- Enhances business credibility and market access.
- GST registration is crucial for businesses to operate legally and benefit from India’s unified tax regime.