Company Incorporation in Selaiyur
Required Register For Following Category Businesses
Aggregate Turnover
Any service provides a value of more than Rs. 20 Lakhs in a year is required to obtain GST registration. In the special category states, this limit is Rs. 10 lakhs. Any organization engaged in the exclusive supply of goods whose aggregate turnover crosses Rs.40 lakhs is required to obtain GST registration.
Voluntary Registration
Any business can obtain GST registration based upon their requirement at any time. voluntarily.
Types Of GST Registration
1. Normal Scheme
This category applies to taxpayers operating a business in India. Taxpayers registering under the normal scheme do not require a deposit and are also provided with unlimited validity date.
2. Non-Resident Taxable Person
This category applies to individuals located outside of India. The taxpayers should supply goods or services to residents in India. The registration remains active for a period of 3 years.
3. Composition Scheme
An organization should enroll under the GST composition scheme to register as a composition taxpayer. The taxpayer whose turnover is less than Rs. 1.5 Crore can avail this facility. An organization enrolled under this scheme can pay a flat GST rate. However, they will not be allowed to claim input tax credit.