GST, or Goods and Services Tax, is an indirect tax imposed on the supply of goods and services.
Who is required to register for GST?
- Business engaged sale of goods: Any enterprise with an aggregate annual turnover exceeding Rs. 40 lakhs.
- Service Providers: Those with an aggregate annual turnover exceeds Rs. 20 lakhs.
- Inter-State Suppliers: Any entity or individual involved in the supply of goods across state boundaries.
- Casual Taxable Entities: Those who undertake taxable supply occasionally.
- Entities under Reverse Charge Mechanism: Businesses obligated to pay tax under the reverse charge.
- Input Service Distributors & Agents: Distributors of input services, including their representatives.
- E-Commerce Platforms: Operators or aggregators of e-commerce platforms
- Non-Resident Taxable Entities: Individuals or entities that are non-resident but engage in taxable supply within India.
- Supplier’s Agents: Representatives who supply on behalf of a principal supplier.
- E-Commerce Suppliers: Individuals or entities that offer goods or services through an e-commerce aggregator.
- Online Service Providers: Entities delivering online information, database access, or retrieval services from outside India to an individual in India.
Documents Requirements
GST return Filing
GST return filing is the process of submitting a document that contains details of all income/sales and expenses/purchases for a business registered under the Goods and Services Tax (GST) system. This is done to calculate the net tax liability and ensure compliance with tax regulations
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