Everything You Need to Know About New GST Registration in India
Goods and Services Tax (GST) has revolutionized the tax structure in India by creating a unified system for indirect taxes. If you are starting a new business or expanding your operations, obtaining a new GST registration is one of the first steps to ensure compliance with tax laws. In this blog, we’ll provide a comprehensive overview of the process, benefits, and role of professional services in GST registration and return filing. What is GST Registration? GST registration is a mandatory process for businesses whose annual turnover exceeds the prescribed limit (currently ₹40 lakhs for most states and ₹10 lakhs for special category states). Businesses dealing in interstate supplies or engaged in e commerce are also required to register for GST irrespective of turnover. A GST registered business is assigned a unique Goods and Services Tax Identification Number (GSTIN), which is essential for collecting and remitting GST to the government. Step by Step Process or New GST Registratio...