Who are Eligible for GST Registration in India
Who are Eligible for GST Registration in India
If your business's annual turnover exceeds Rs 40 lakh (or Rs 10 lakh for special category states) you are liable to register yourself under the Goods and Services Tax. The process of registration is online and takes a few days to get completed. The GSTN, which is responsible for managing the IT system concerning the official GST Portal, is going to check the information that you've entered in the application form to ensure that there aren't any mistakes.
If the details submitted are found to be incorrect or insufficient, a notice is sent to you asking for additional information and documents within seven working days of submitting the application. If all the details are verified and accepted, your registration certificate is issued in the GST portal with a 15-digit unique identification number that needs to be quoted on all official documents.
People who are residing outside India but supply goods or services to individuals staying in the country are also liable to register under the GST Portal . This is called NRTP, or Non-Resident Taxable Person. It's important to note that if you have multiple GSTIN numbers, you must file returns for each one separately. For example, if you're running two businesses with the same PAN, you must register for them each separately under a different GSTIN. If you do this, you won't be able to claim input credit and make tax payments for both of them. In case of any changes in the business or ownership, you'll need to update your GSTIN as well.
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