GST Registration Service in Pune: Startupportal Business Services
Who Should Register for GST?
GST registration is mandatory for all businesses whose annual turnover exceeds a certain limit as per Indian tax laws that is Rs 20 Lacs for Professionals and Rs 40 lacs for Businesses. Additionally, certain types of businesses are required to register for GST regardless of their annual turnover.
Some of the businesses that are required to register for GST are:
Businesses with an annual turnover exceeding the mandatory threshold set by the Indian government.
Businesses engaged in inter-state supply of goods and/or services.
E-commerce operators.
Casual taxable persons.
Non-resident taxable persons.
Agents of a supplier and Input Service Distributors.
Persons making taxable supplies on behalf of another taxable person.
Persons who have been granted UIN (Unique Identity Number) for the purpose of UN (United Nations) or embassy.
It is important to note that failure to register for GST when required can result in significant penalties and fines, so it is important to consult with a tax consultant or chartered accountant to determine the requirement for GST registration.
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