GST Registration
GST registration refers to the process of enrolling a business under the Goods and Services Tax (GST) regime in countries where GST is implemented. GST is a value-added tax system that subsumes various indirect taxes levied by the central and state governments, aiming to create a unified and simplified tax structure.
Businesses that exceed the prescribed threshold turnover are required to obtain GST registration. Once registered, the business becomes a GST taxpayer and is issued a unique Goods and Services Tax Identification Number (GSTIN). This GSTIN serves as a legal identity for the business for all GST-related transactions.
The GST registration process typically involves submitting various details and documents to the relevant tax authorities. After successful registration, the business is liable to collect GST from its customers on the supply of goods or services and is entitled to claim input tax credit on GST paid on purchases.
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