So, if you too supply items and offerings and have an annual turnover of greater than Rs. 20 lakhs, you must register for GST in India.After you register for GST, you will obtain a GST registration quantity – GSTIN (Goods and Services Tax Identification Number). It is a 15-digit range that is issued by way of the Central Government, state-wise. Get more details about Gst Registration in jharkhand
Who is eligible to register beneath GST?
Non-Resident Taxpayer and Temporary Taxpayer
Participants in the reverse cost method for tax payments
All online store aggregators
Businesses with a revenue of more than Rs. 40 lakh. In the case of Uttarakhand, Himachal Pradesh, Jammu & Kashmir, and North-Eastern states, the turnover of the commercial enterprise must exceed Rs.10 lakh
Input carrier distributors and dealers of a supplier
Individuals who furnish items via an e-commerce aggregator
Individuals imparting database get right of entry to and on line data from outdoor India to human beings who stay in India different than these who are registered taxable persons.
Some of the necessary factors that you need to understand about GST registration are referred to below:
GST registration system requires no fees.
Businesses having annual turnover of Rs.20 lakh and extra need to have GST registration.
Businesses jogging in two unique states have to have distinct GST registration number.
The following are the archives you will require whilst filling the GST application:
-Voter ID or Aadhar card from the promoter or partner
-Company incorporation certificates or partnership deed
-Address proof of the organization – hire or hire agreement, electrical energy bills, etc.
-Bank account declaration of the enterprise or individual
The principal advantages of GST registration are stated below:
Big tasks can be universal from Multinational Corporations (MNCs).
Can promote items online.
Can promote merchandise and offerings throughout PAN India.
GST registration suggests your commercial enterprise is trustworthy.
Input tax credit score can be availed when any items or offerings are being purchased.
Can open contemporary financial institution account the use of GSTIN.
The GSTIN helps in manufacturer engagement.