GST Registration (Regular Taxpayer)

GST (Goods and Services Tax) is an indirect tax levied on the supply of goods and services in India. It is a comprehensive, multi-stage, destination-based tax applied at every point of value addition. The GST structure includes multiple tax slabs ranging from 0% to 28%, depending on the nature of the goods or services involved.

To register as a Regular Taxpayer under GST, a business or individual must meet certain criteria:

✔ One of the primary requirements is based on the aggregate turnover in a financial year. Currently, the threshold limit for mandatory GST registration is INR 40 lakhs for the sale of goods (INR 20 lakhs for special category states), and INR 20 lakhs for service providers (INR 10 lakhs for special category states).

✔ Compulsory registration: Certain businesses are required to register for GST, regardless of their turnover, such as entities engaged in inter-state supplies, e-commerce operators, and non-resident taxable persons.

✔ Voluntary registration: A person or business can choose to register for GST voluntarily, even if their aggregate turnover is below the threshold limit

✔ Once registered under GST, a business must file regular returns, pay applicable taxes on time, and maintain accurate records of all transactions. Failure to comply with GST regulations may lead to penalties, interest charges, and legal action by the tax authorities.