All goods and services, excluding petroleum products, currently require Goods and Services Tax (GST) registration. GST consolidates various state and central indirect taxes into a single tax, creating a uniform tax regime across the entire country. This system replaces multiple taxes applied previously, such as excise, VAT, service tax, entertainment, and luxury taxes.

Previously, all businesses and services were outside the scope of GST. Now, businesses with a turnover of up to Rs 40 lakh are exempt from GST. The Composition Scheme is available for businesses with a turnover of up to Rs 1.5 crore, allowing them to pay only 1% tax. For service providers, the exemption limit is Rs 20 lakhs, but those earning up to Rs 50 lakhs can opt for the Composition Scheme and are liable for only 6% tax.

Businesses with annual sales exceeding Rs 40 lakh must register for GST. However, those with sales below this threshold may also choose to register to take advantage of the Input Tax Credit. Moreover, any entity involved in inter-state transactions of goods or services is required to register for GST.

From August 21, 2020, a new GST registration method was introduced, making Aadhaar authentication mandatory. This option allows for quicker GST registration, with the applicant receiving their GSTR-1 within three days, provided they opt for Aadhaar verification instead of physical verification.

Arthiq is a distinguished business platform with an innovative approach, providing comprehensive incorporation, compliance, advisory, and management consulting services to both domestic and international clients. With Arthiq, registering for GST in India is straightforward, quick, and cost-effective. Additionally, Arthiq offers a range of services including free GST Advisory, assistance with GST and TDS Return filings, and trademark registration, ensuring a seamless process for managing your business's compliance needs.

ARTHiQ provides expert guidance throughout the entire GST process, from registration to compliance and filing, all the way to handling appeals. We ensure seamless management at every stage, so you stay compliant while focusing on your business.

GST - Goods & Service Tax