What Is Gst? | Types Of Gst | When Is It Required To Register For Gst?

By Author: Ananya Nair
Total Articles: 2
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GST stands for the Goods and Services by name is well known by everyone, but there are few things regarding GST which is hardly known by anyone. GST came into existence on 1st July 2017 in India.
GST registration is necessary for the organizations whose turnover exceeds Rs. 40 lakhs (Rs 20 lakhs Northeastern States) is required to register its business as a tax liable person or business. This process is called GST registration.

GST registration normally takes between 2-6 working days. We’ll help you to register for GST in easy 3 steps.

GST Registration is an online procedure where the GST Law suggests that any business person ought to get a unique number by the authority.

This unique number is known as GSTIN which is a PAN-based 15-digit registration number and it is also possible to apply for a different GST Registration number for each state.

When is it required to register for GST?

. Annual Turnover above 40 Lakh (interstate business)
. Annual Turnover above 20 Lakh (business ...
... in any special states)
. Interstate Business
. E-commerce Business
. Required to pay under Section 9, sub-section (5)
. Required to pay under reverse charge
. Non-resident liable to pay taxes producing taxable supply

FinacBooks is a leading Indian portal offering accounting, finance and taxation services to small businesses in India. In case you need assistance with the GST Return or Cancellation of GST Registration you can arrange a call from FinacBooks business advisors at 8800221252

Source: http://www.apsense.com/article/what-is-gst-goods-and-services-tax-types-of-gst-when-is-it-required-to-register-for-gst.html

I am Senior Accountant of FinacBooks which provides solutions for all your business needs including tax return, company registration, accounting & compliances, GST registration and more.