Who Are Eligible For GST Registration

Who Are Eligible For GST Registration


Anyone who is involved in the supply of goods or services in any manner must register for GST, regardless of their turnover. This includes individuals and firms, including both companies and non-registered entities such as trusts, societies, etc. Similarly, any service provider with an annual turnover of over 20 lakhs must also register.

Further, those who supply goods or services online must be registered under Goods and Services Tax even if they have a turnover below the threshold. This is because they are liable to pay IGST on the value of supply of goods or services which is collected by them from customers, irrespective of their state of origin.

Moreover, if a business is part of a group then the aggregate turnover of all members must be taken into consideration while applying for GST registration. However, if the businesses are distinct from each other then each of them should apply separately for GST registration.

Additionally, if a business has an existing tax deducted at source account number (TAN), then they don't need to obtain a separate GSTIN. However, if a person does not possess TAN then they must apply for it in order to obtain GST registration. Finally, those who wish to avail input tax credit must also register under GST. However, it is worth mentioning that they can do so on a voluntary basis even if they don't meet the turnover threshold.


 

Tel:+917299972500

info@filingpoint.com

 

Comments

Post a Comment

Popular posts from this blog

How to Run Software Company Registration in Adiramapattinam, Thanjavur

Image
Call our filing point expert at +91 72999 72500 or visit https://filingpoint.com   Introduction   Starting a software company in Adiramapattinam, Thanjavur, can be an exciting venture, and with the right guidance, the process can be smooth and straightforward. Filingpoint, with 14 years of experience in company registration , offers an excellent service to help you navigate this journey.   Step 1: Choose a Company Name Your company name should be unique and comply with the naming guidelines provided by the Ministry of Corporate Affairs (MCA). It’s wise to have a few alternatives in case your preferred name is already taken.   Step 2: Obtain Digital Signature Certificate (DSC) A Digital Signature Certificate is required for the directors to sign the electronic documents. Filingpoint can assist in obtaining the DSC for your directors quickly and efficiently.   Step 3: Apply for Director Identification Number (DIN) Every director must hav...
Read more

Expanding Your Business: How LLPs Facilitate Easy Admission of New Partners

Image
Call our filingpoint experts at +91 72999 72500 or visit https://filingpoint.com Introduction: Expanding your business can be a seamless process with the right structure in place. Limited Liability Partnerships (LLPs) offer a flexible and efficient way to admit new partners, enhancing your company's growth potential. Filingpoint's comprehensive service streamlines the process, ensuring all legal and administrative requirements are met with ease. Discover how LLPs can facilitate your business expansion and simplify the integration of new talent.   Expanding Your Business: How LLPs Facilitate Easy Admission of New Partners:   As the name suggests, an LLP is a partnership with the added benefit of limited liability. The structure is popular among professional groups like lawyers, doctors and accountants who pool their resources, experience and clients to save on overhead costs. The organization also provides tax benefits, as it is a pass-through entity for federal ta...
Read more

How to Run Software Company Registration in Jolarpet, Vellore

Image
Call our filing point expert at +91 72999 72500 or visit https://filingpoint.com   Introduction   Starting a software company in Jolarpet, Vellore, can be a rewarding endeavor, given the region's growing focus on technology and development. The first step towards making your dream a reality is company registration , a crucial process that ensures your business is recognized as a legal entity.   How to Run Software Company Registration in Jolarpet, Vellore   Filingpoint offers a comprehensive solution for this process, charging a modest fee of Rs 999/- for company registration and providing free consultation services, leveraging their 14 years of experience in the field. This invaluable guidance simplifies the complexities involved in registration, making it accessible even for first-time entrepreneurs.   To begin the registration process, you need to gather the necessary documents, which typically include proof of identity and address for...
Read more