When Do You Need GST Registration?
It’s mandatory to register for GST if:
- Your annual turnover exceeds ₹40 lakh (for goods) or ₹20 lakh (for services).
- You engage in inter-state supply of goods or services.
- You sell through an e-commerce platform.
Understanding GST Tax Rates
GST rates are structured between 0% and 28%, depending on the type of goods or services provided.
Benefits of GST Registration: Input Tax Credit
Businesses registered under GST can claim input tax credit, which allows you to offset the tax paid on purchases against your GST liability during return filing.
Return Filing & Tax Payment
Registered businesses must file regular GST returns—three monthly or quarterly and one annual return—and pay taxes monthly to remain compliant.
Composition Scheme for Small Businesses
Businesses with an annual turnover of up to ₹1.5 crore can opt for the Composition Scheme, which simplifies compliance with lower tax rates (1% to 5%) and quarterly return filing.
Registering for GST ensures your business operates legally, benefits from tax credits, and enjoys a simplified compliance process. Let UBC Online handle your GST registration seamlessly!
Reviews
There are no reviews yet.