GST registration is a process that allows businesses to register for GST. In order to register, you must be able to pay GST. This can be done on a voluntary basis or through compulsory registration.
In India, there are three types of GST registration: compulsory, voluntary, and registration under composition scheme.
Compulsory Registration
If a person wants to register under the Goods and Services Tax (GST), they must first complete compulsory registration. This is mandatory for every person who wants to participate in the GST regime.
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Voluntary Registration
In order to register voluntarily, a person must submit an application form that can be downloaded from the official website of the Directorate General of Central Excise & Customs (DGCC), which regulates sales tax in India. The application must contain details about the applicant such as name, address, contact information, etc.
Registration under Composition Scheme is when you have an annual turnover between Rs 1crore and Rs 5crore (approximately $15,000 – $50,000), but not more than 15 members in your business. You will be able to register as a trader under Composition Scheme but only if your turnover is less than Rs 50 crores ($5 million).
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