GST is India's largest tax reform, which improves trade facilitation in India and increases India's taxpayer rate by bringing millions of small businesses to India. By eliminating multiple taxes, entering a system, the complexities of tax will be reduced, while the tax base will significantly increase. Under the new GST regime, there is a need to buy or sell goods or provide services or to register for GST for both. Companies without GST registration will not be allowed to collect GST from the customer or GST's input tax credit will be paid or fined. Further, registration under GST is mandatory, once it crosses the minimum threshold turnover of a new company, then it can cross a defined turnover.
According to the GST Council, Rs. The states of special category with annual turnover of 10 lakh and above will need to register under GST. If the remaining turnover is more than Rs.20 lakhs then all other companies will have to register for GST. There are various other standards, which can make the organization accountable for GST registration - regardless of annual sales turnover. According to the rules, organizations that need to register for GST will have to file within 30 days of the date for the GST application, on which the organization will be responsible for registration under GST.
Shree Sainath Consultancy is the leading business service platform in India, offering various services such as income tax filing, GST return filing, private limited company registration, trademark filing and more. India Feiling You can get GST registration in India and maintain GST compliance by the proprietary GST accounting software. Average time to get GST certification is 5 - 10 business days, subject to government processing time and client document submission. Get free consultation on GST and GST return files by scheduling appointment with Shree Sainath Consultancy, Call on 9376642360
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