What is GST?
Goods and Services Tax (GST) is a unified tax system in India that replaces multiple indirect taxes. It applies to the supply of goods and services across the country.
- It is a destination-based tax, meaning tax is collected at the place where goods or services are consumed, not where they are produced.
- GST has four main components: CGST (Central), SGST (State), IGST (Interstate), and UTGST (Union Territory).
Who Needs GST Registration?
- Businesses with annual turnover above ₹40 lakh (₹20 lakh for services).
- E-commerce sellers.
- Inter-state suppliers.
- Voluntary registration for small businesses to claim input tax credit.
Benefits of GST Registration:
✔ Legal recognition of business.
✔ Input tax credit on purchases.
✔ Ability to sell online and inter-state.
✔ Increases trust with customers.
Documents Required:
- PAN of business/owner.
- Aadhaar card.
- Business address proof.
- Bank account details.
Final Step:
After approval, you will receive a GSTIN (Goods and Services Tax Identification Number) and can start issuing GST invoices.
