Let us understand the GST Registration in brief.
Since GST is a new legislation, businesses need to register themselves under the new regime of GST.
An agriculturist need not register under GST since he is not considered as a taxable person.
Every business having an aggregate turnover in the FY exceeding Rs 20 lacs is required to get registered under GST, however this limit is 10 lacs in case of north eastern states. Please note that for specified categories of businesses the registration is mandatory irrespective of turnover.
Some of these are:
There are various forms prescribed by the law from GST REG 01 until GST REG 06 to complete the registration process. A detailed guide on this has been created by H&R Block to help you through the process.
The most important reason to register yourself under GST is that unless you register you cannot collect GST from your clients nor can you claim any input tax. Hence it is of utmost importance that you get GST registration.
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