Registration of a business entity under the GST law involves obtaining a unique number from the relevant tax authority to collect tax on behalf of the government and to avail of credits for the tax input to it input supply tax.
GST registration applies to all natural and legal persons who supply goods or services in India. GST registration becomes mandatory when the total value of the goods supplied exceeds Rs 40 lakhs. The Ministry of Finance has simplified the GST registration process to facilitate the tax filing process. Where the entity operates under special class status, GST registration will apply if the value exceeds INR 20,000 per annum. In this article, we look at the eligibility of to register for GST. The article also discusses the required documents and procedure for online GST registration.
The GST return is a document that contains all the details of sales, purchases, VAT on sales (export VAT) and tax paid on purchases (input VAT). After filing a GST return, you must pay the resulting GST
