GST (Goods and Services Tax) Registration is applicable to all goods and services in India, except petroleum products. It is a consolidated tax that merges state and central indirect taxes, creating a uniform tax system across the country. GST replaces various taxes such as service tax, excise duty, VAT, entertainment tax, luxury tax, octroi, and CST.

The process of obtaining GST in India is completely online and does not require any manual intervention or physical paper submissions. The procedure is simple and streamlined.

The exemption limit for GST has been revised. Businesses with an annual turnover of up to Rs. 40 lakh are exempted from GST. Those with a turnover up to Rs. 1.5 crore can opt for the Composition Scheme and pay only 1% tax. However, for services, the exemption limit remains at Rs. 20 lakh, and service providers with a turnover of up to Rs. 50 lakh can opt for the Composition Scheme and pay only 6% tax.

GST  is compulsory for traders, manufacturers, businesses, individuals, and professionals whose turnover exceeds INR 40 lakh. However, if the turnover is less than INR 40 lakh, GST  can be voluntarily opted for to avail the benefits of Input Tax Credit. Additionally, anyone who engages in interstate purchase or sales of services or goods must apply for GST, regardless of turnover.

Aadhaar Card has been made mandatory to register GST. Applicants now have the option to choose Aadhaar authentication or physical verification during the registration process. Those who opt for Aadhaar authentication can receive their GST registered within three days.

The advantages of obtaining GST include being legally recognized as a supplier of goods or services, authorization to collect tax from customers and pass on the credit of taxes paid on supplies, the ability to claim input tax credit on purchases, and seamless flow of input tax credit from suppliers to recipients at the national level.

At simplemyfiling.com, we provide end-to-end incorporation, compliance, advisory, and management consultancy services. We offer easy, seamless, and cost-effective registration of GST in India, along with free GST advisory, GST return filing, TDS return filing, trademark registration, and other services. For online GST registration and GST services, you can contact our compliance manager at 9178663478 or email us at simplemyfiling@gmail.com. We can assist you with obtaining your GST number, guiding you through the application process, and providing information on the required documents for GST registration.