GST stands for Goods and Services Tax, which is a single indirect tax system that was introduced in India in 2017.GST registration is mandatory for businesses and individuals whose annual turnover exceeds a certain limit. Currently, the threshold limit for GST registration is Rs. 20 lahks (Rs. 10 lakh for some states in North-East India). Businesses with turnover below the threshold limit may voluntarily opt for GST registration.
The registered business is required to file regular GST returns and pay taxes on the goods and services supplied as per the applicable rates. Failure to register for GST or comply with GST regulations can result in penalties and legal action by the authorities. Looking for GST Registration or GST Filing Services in Gurgaon...Read more
Sign in to leave a comment.