GST stands for Goods and Service Tax. GST is the indirect tax that one needs to pay to the Indian government for supplying different goods and services. If you are a trader, businessman or manufacturer, you need to register for GST. To carry different business activities, GST registration is compulsory. What is GST Registration? To supply any goods or services from manufacturer to consumer, one needs to pay tax to the Indian government. For that, you need to register your business and get the GST number of your business. The businesses whose turnover is more than 40 lakhs need to register as taxable persons under the GST law. To get registered with GST is compulsory for all the businesses having high turnover. If you don’t do GST registration, your business will be considered an offence, and the Indian government can apply heavy penalties. Who Needs To Register For GST? GST registration is compulsory for the following people: ...
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