GST Registration & Submission

The eligibility criteria for GST registration depend on the type of business and its turnover, but generally include:

Turnover Threshold:-

• For businesses supplying goods: ₹40 lakhs (for most states) or ₹20 lakhs (for special category states).
• For businesses providing services: ₹20 lakhs (₹10 lakhs for special category states).
• Inter-State Supply: If a business sells goods or services across state borders, GST registration is mandatory, regardless of turnover.
• E-commerce Sellers: Any business selling through an e-commerce platform must obtain GST registration, regardless of turnover.
• Casual or Non-Resident Taxable Person: Temporary businesses or non-resident suppliers must register for GST.
• Voluntary Registration: Businesses below the threshold can voluntarily register if they want to avail of input tax credits.

Importance of GST Registration for Self-Employed Individuals
For self-employed individuals and small businesses, GST registration has become increasingly important in today’s business landscape:

• Legal Requirement: It’s mandatory for businesses meeting the turnover thresholds, ensuring compliance with tax laws and avoiding penalties.
• Input Tax Credit: GST-registered businesses can claim credits on taxes paid on purchases, reducing overall tax liability.
• Business Credibility: Being GST-registered enhances your business’s reputation, especially with larger clients or government contracts.
• Access to Wider Market: GST registration facilitates inter-state trade and eligibility for government schemes and subsidies.
• Smooth Business Operations: Simplifies the billing process, creates transparency, and fosters trust with customers and suppliers.