GST Registration

Goods and Services Tax was implemented to abolish all other central and state indirect taxes (Customs Duty, Excise Duty, VAT, and Service Tax). It was initiated on 1 July 2017 under Section 23 of CGST Act in India. According to the GST act, the businesses whose financial turnover is more than 20 lakhs (10 lakhs for NE (North East) states and hill stations) annually have to apply for GST registration. Therefore, it is mandatory for all businesses e-commerce exports and import to register under this act. Under this GST act, running the business without GST registration will be considered as an offense and one has to pay a heavy amount of penalty.

The main motive of GST is to liberate India from its complex taxation structure. All other multiple taxes imposed on goods and services will be replaced by GST, which is lesser than other indirect taxes. Therefore, GST is paid by the consumer, which is charged by the last supplier and dealer.

What is GST Registration Process?