The Government of India implemented a unified taxation system, the Goods and Services Tax (GST), on July 1, 2017. All taxes levied by the federal and state governments in various forms, such as excise duty, sales tax, VAT, entertainment tax, luxury tax, etc. have been replaced by GST. Both the Constitution 142 Amendment Act 2017 and the Constitution 122 Amendment Bill were enacted by the Indian Parliament paving the way for the implementation of the GST law.

GST Registration Online - Overview

The Goods and Services Tax (GST), which went into effect on July 1, 2017, affects all producers, traders, and service providers in India, including independent freelancers. On July 1, 2017, several central taxes, such as service tax, excise duty, and CST, as well as state taxes, such as entertainment tax, luxury tax, octroi, and VAT, were merged into one tax. Which is known as GST.. Every stage of the supply chain charges GST, with full set-off privileges available. GST registration is done totally online without any manual input.

Every product goes through a number of processes in the supply chain, including purchasing the raw materials, manufacturing, selling to the wholesaler, selling to the retailer, and finally selling to the client. It's interesting to note that GST will be applied to all 3 levels. Let's assume that if a product is made in West Bengal but used in Uttar Pradesh, all the proceeds will go to Uttar Pradesh. Additionally, taxpayers with a turnover of less than Rs. 1.5 crore can select the composition plan to avoid onerous GST regulations and pay GST at a predetermined rate of turnover.

What is the GST (Goods and Services Tax)?

GST stands for Goods and Services Tax. Goods and Services Tax (GST) is an indirect tax, which has various indirect taxes in India, such as Value Added Tax (VAT), Excise Duty, Sales Tax, Service Tax, etc.  The Goods and Services Tax is a tax on goods and services used in India (GST). GST was implemented by the Central Government on 1st July 2017 with some rules and regulations. Since then, a lot of changes have been made to GST.

Types of GST Registration

There are many GST registration categories, including regular, occasional, non-resident, and E-Commerce operators. Regardless of the turnover threshold, casual taxable individuals, non-resident taxable persons, and E-Commerce businesses must register for GST. Normal Tax Payer- GST Registration. Businesses that generate more than Rs 40 lakh in revenue within a fiscal year must register for GST as regular taxable entities. If you have a business in the northeastern states of Himachal Pradesh, and Uttarakhand, the threshold limit is Rs 10 lakh.

Who should be eligible for the GST Registration?

Every business that sells items and has an annual revenue of more than INR 40 lakh is needed to apply for a GST number as a regular taxable person. If you have a business in the northeastern states of J&K, Himachal Pradesh, and Uttarakhand, the threshold limit is INR 10 lakh. The maximum annual turnover for service providers is INR 20 lakh and INR 10 lakh for states that fall under the special category.

All companies that export goods across states are also required to apply for goods and service tax registration. Businesses that make taxable deliveries on behalf of other taxable people, such as agents and brokers, are also subject to the same rules. Additionally, regardless of their annual revenue, the following enterprises must register for GST: