Who is eligible for GST registration?


 

Welcome to FilingPoint Blog +91 7299972500 for clarify GST doubts online in Chennai

Who is eligible for GST registration? A business needs a GST registration if it supplies goods and services within the state. If a business produces more than a certain threshold, it must register. The threshold amounts vary by state. The threshold for North-Eastern states and hilly states is Rs 10 lakhs and Rs 75 lakhs, respectively. The threshold for other states is Rs 1.5 million. In some states, the threshold is lower. The minimum turnover required for registration depends on the type of business.

 

There are several ways to claim ITCs. The traditional method involves showing the number of taxable purchases. This method is only available to registrants who have less than $1 million in annual worldwide revenue in their previous tax year. However, if you are unsure whether you qualify, Filingpoint is Qualified GST Registration Consultants in Chennai.

 

Temporary registration is available for casual/non-resident taxable persons. It's valid for 90 days and can be extended. It's important to note that registration under this method is effective from the date of liable status. The government will require an advance GST deposit for those who do not have a digital signature. This deposit is based on estimated tax liability. This is mandatory if you plan to collect or claim input tax credits.

Contact Filingpoint for clarify GST doubts online Consultants in Chennai +91 72999 72500

 

Comments

Popular posts from this blog

How to Find the Best Consultants for GST Filings near Me

Choosing Consultants for Company Registration Near Me