GST Registration
Smartauditor is the No.1 business consultant who offer GST Registration in Salem, Trichy and Erode at affordable and most efficient way. Forget about the legal hindrance, when you are connected with our team. GST is the biggest transformation in India by Narendra Modi. After the hit of GST in India, all the entrepreneurs have been alerted to register GST. Based on the new rules and regulations, if the annual turnover reaches Rs.40 Lakh, then they are required to register GST. For registration, the turnover calculation is must. For certain states like North East and hill states, the limits for GST Registration is 20 lakh. If you are not registered for the GST, even if the turnover reaches the maximum limit, then you will undergo certain punishable offense and have to pay penalties. It takes 4-7 working days to complete the registration scheme. There are certain latest GST News, information, Notifications & Announcements are held by the GST authorities and these are important to be considered by the taxpayers.
The new updates regarding GST TRAN-1 due date further extended up to 31 march 2020 for all taxpayers who could not submit before the deadline due to some technical issues on GST portal. Due date of TRAN-1 and TRAN-2 is extended to 31st March 2019 and 30th April 2019 respectively.
What are the Advantages of GST Registration
GST Registration provides numerous opportunities and benefits to your business apart from a common name as a legal registrant. Here are the main advantages of your business by GST Registration.
- You will be more competitive by getting a registration among the unregistered competitors.
- It helps the productivity of your business. It means, You need a GSTIN for selling your products online.
- Registered GST taxpayers are only allowed to intake the GST inputs on their purchase and save the cost.
- For all kinds of interstate trades, GST Registration is mandatory.
Government tenders need GSTIN, neither you are not able to apply for any Government tenders.
When does GST Registration mandatory?
Turnover Criteria
Taxpayers who have the turnover above Rs 40 lakh are required to get new GST Registration
Casual taxpayer
If you want to start a business online, then you must register for the GST. Neither you have to pay GST for your secondary platform of business.
NRI Taxpayer
Every NRI person who wishes to commence a business in India, must register GST. Then only he can be liable to start the procedures.
Agents of supplier & Input Service Distributor
All input service distributors who want to carry forward benefits of input tax credit should get GST Registration.
Reverse Charge
All the businesses under the reverse charge mechanism need GST Registration.