GST Registration: A Complete Guide for Businesses in India
GST Registration is a mandatory process for businesses and individuals who supply goods or services in India and cross the prescribed turnover limits. Introduced under the Goods and Services Tax system, GST replaced multiple indirect taxes to create a unified taxation structure across the country. The GST system was implemented by the Government of India in 2017 to simplify the tax framework and promote transparency in the economy. What is GST? GST (Goods and Services Tax) is a comprehensive indirect tax levied on the manufacture, sale, and consumption of goods and services across India. It replaced several taxes such as VAT, service tax, excise duty, and others to form a single tax system. The GST structure in India is governed by the Goods and Services Tax Council, which decides tax rates, rules, and regulations. What is GST Registration? GST Registration is the process by which a business obtains a unique GST Identification Number (GSTIN) from the government. Once regis...