GST center is ones gateway which is helping to MSME small and medium entrepreneurs, shopkeepers, individual with turnover above 20 lakhs to file their GST returns on time at a much lower fee charged by tax professionals in India 2020. For better understanding, now understand with an example of an entrepreneur GST registration process . Mr. suraj kamat. Suraj is keen to start a small business without any proper guidance knowledge of various legal documents needed. He asked for his friends’ opinion and was he was referred to a Tax adviser who helped him out with a company & In this whole process, Suraj has to deal with so many things: TAN, PAN, DSC, DIN, GST or GSTIN etc. He had to spend lots of time, money and energy behind this lengthy process. He had to pay different fees for the same document as he dealt with several people engaged. Even Suraj was not sure about certain things related to GST services but he did not get help until he ended up paying G...
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ReplyDeleteIt is mandatory for every person to register under the GST regime, if-
ReplyDeleteHe is engaged in the exclusive supply of goods, and aggregate turnover of such supplies exceeds Rs 40 lakh in a financial year
He is engaged in the supply of services, and the aggregate turnover of such supplies exceeds Rs 20 lakh in a financial year.
He is covered under the compulsory gst registration criteria. This means it is compulsory for a certain category of persons to register in GST even their aggregate turnover is less than the above-mentioned exemption limit.