Welcome to Ankit Gupta & Associates

Office Hour 10:30am – 07:30pm

Follow Us :

Enquire Now
Enquire Now

GST Registration

GST registration is a mandatory requirement for businesses operating in India that have an annual turnover exceeding the specified limit. The Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services in India. GST registration involves obtaining a unique GST identification number, which is a 15-digit alphanumeric code assigned to each registered taxpayer.

To register for GST, businesses need to provide certain information and documents, such as PAN card, proof of business registration, bank account details, and authorized signatory details. Once the registration is complete, businesses need to file regular GST returns, which involves reporting details of their sales, purchases, and taxes paid to the government.

GST registration is crucial for businesses as it provides them with several benefits, including the ability to claim input tax credit, which is a credit for taxes paid on purchases. This can help reduce the overall tax liability of the business. GST registration also helps businesses comply with legal requirements and avoid penalties for non-compliance.

Register For GST & Streamline
Your Business Taxation.

Importance of GST Registration

GST registration is crucial for businesses in India for various reasons.
Some of the importance of GST registration are:

Legal Compliance

GST registration is mandatory for businesses whose turnover exceeds the threshold limit of Rs. 20 lakhs (Rs. 10 lakhs for North-Eastern states). It is a legal requirement, and non-compliance can lead to penalties and legal consequences.

Input Tax Credit

GST registration enables businesses to claim input tax credit on their purchases. Input tax credit means businesses can reduce their tax liability by claiming credit for taxes already paid on purchases. This helps in reducing the overall tax burden on the business.

Inter State Trade

Businesses engaged in inter-state trade must have a GST registration to comply with legal requirements. GST registration enables businesses to sell their products or services across India without any barriers.

Competitive Advantage

Having a GST registration gives businesses a competitive advantage in the market. It reflects the credibility and legality of the business, which can help in attracting customers and investors.

E-Commerce platform

GST registration is mandatory for businesses selling goods and services on e-commerce platforms. It helps in complying with legal requirements and enables smooth transactions on the platform.