GST Registration for Small Business in India


GST Registration for Small Business in India

"Call Our Business Plan Experts at +91-72999-72500"


If you have a small business in India, then you should know that the government has made it mandatory to get GST registration for all businesses. GST stands for Goods and Services Tax and it is a single, indirect tax that has replaced multiple state and central taxes. This has led to a simpler and more integrated system for taxpayers, especially small businesses. The process of getting a GST number has also become easy due to technological advancements.

The main benefit of the GST for small businesses is that it has simplified the filing processes and reduced the burden on small businesses by combining various taxes into one single invoice. Also, there are a number of exemptions available under the GST, which make it even easier for small businesses to file.

As per the law, if your turnover is more than Rs 40 lakh for manufacturing sector and for service sectors including e-commerce then you must register yourself under GST. However, for the north-eastern states and hill areas the threshold is Rs 10 lakh.

Getting your GST registered is an easy process and can be done on the official website of the government. You will need to have your PAN card, Aadhaar, address proof and ID proof of the owner or promoter and bank details including cancelled cheques. Once all the required information is provided on the GST portal, you will receive two different OTPs on your email and mobile phone. After that, you will be given a temporary reference number (TRN).

 

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