INCLUSION
- Completely managed GST Registration service until obtaining GST Registration Certificate
- Professional Expert Support
- Free first filing of GST Return
In India, the Goods and Services Tax (GST) registration is mandatory for businesses meeting certain criteria. As of my last update, here’s a breakdown:
- Turnover Limit:
- For businesses operating within most states of India, the turnover limit for mandatory GST registration is INR 40 lakhs (INR 10 lakhs for Special Category States).
- For businesses engaged in the supply of goods, the turnover limit for mandatory registration is INR 20 lakhs (INR 10 lakhs for Special Category States).
- Certain categories of businesses, such as e-commerce operators, are required to register for GST regardless of turnover.
- Types of GST Registration:
- Regular GST Registration: Businesses with a turnover above the threshold limit need to register under this category.
- Composition Scheme: Small businesses with a turnover up to INR 1.5 crore can opt for this scheme. They have to pay a fixed percentage of turnover as tax and cannot avail input tax credit.
- Casual Taxable Person: Individuals or businesses making occasional taxable supplies in a taxable territory where they don’t have a fixed place of business.
- Non-Resident Taxable Person: Individuals or businesses located outside India making taxable supplies in India.
- Input Service Distributor (ISD): This registration is for businesses that have multiple business verticals and want to distribute the input tax credit to different branches.
- TDS (Tax Deducted at Source) or TCS (Tax Collected at Source) Deductor: Entities responsible for deducting or collecting tax at source.
- UN Bodies, Consulates, Embassies: Special provisions are made for registration of these entities under GST.
- OIDAR (Online Information Database Access and Retrieval) Services: This registration is for businesses providing online services from a place outside India to a person in India.
- Agents of Taxable Person: Individuals or businesses who are agents representing a taxable person in India.
These are the primary types of GST registrations in India, covering various scenarios based on the nature and scale of business operations. Always consult with a tax professional or visit the official GST portal for the latest updates and requirements as regulations may have changed since my last update.