GST i.e. Goods and Services Tax has come into effect to merge most of the current taxes (Central and State level indirect taxes like VAT, Service tax, Excise, etc.) into a single mechanism of taxation. It is a comprehensive indirect tax levied on manufacture, sale and consumption of goods and services at national level. It is a multi-stage and consumption based tax, which means, the tax will be levied at each stage of the purchase and sale of goods and services.
GST registration is primarily required when your annual turnover is more than Rs. 20 Lakhs (Rs. 10 Lakhs for north east and hill states-Special category states). However, even if your sales are less than the prescribed limits, you can still opt for voluntary GST registration.
For businesses where GST registration is compulsory and they carry on their business without GST registration, it is considered as an offense under the law and can attract huge penalties when identified.
If you are looking for a GST consultant and want to get yourself registered, you can get in touch with Numbro. We are a company of professionals who have expertise in GST Registration, GST Implementation, GST Accounting and GST Consulting.