Who Are Eligible For GST Registration in India
Who Are Eligible For GST Registration in India
In the pre-GST era, certain sectors like building construction and textile were largely unorganized and unregulated. However, the introduction of GST brought in greater accountability and regulation to these industries. GST enables all businesses to collect and pay tax on supplies, and avail input credit for the taxes paid on goods and services bought. It is essential for all businesses to get registered under GST and comply with the laws.
Every person who makes taxable supplies of goods or services must register under GST if their aggregate turnover exceeds Rs 40 lakh (Rs 20 lakh in the case of special category states). In addition, all entities who are already registered under an earlier law of taxation such as Excise, VAT or Service Tax must get themselves registered under GST.
Once you fill up the registration form online and upload all the necessary documents, the application will be verified by both State and Central authorities. The approval or rejection will be communicated to the GST common portal within three working days. If the authorities require any additional information or notice any error, they will inform the applicant and give a time limit to reply to the query.
Once the application is approved, an Application Reference Number or ARN will be issued to you by the Common Portal. You can then use this ARN to track the status of your application on the website. You can also download your GST registration certificate from the same page.
Tel:+917299972500
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