5 Difficult Things About Online GST Registration
The GST Act came into operation in 2016 and the implementation of the same began on July 1, 2017. A variety of indirect taxes previously levied by central and state governments like VAT, Service Tax, Local Body Tax, Central Excise duty, Central Sales Tax Purchase Tax, Luxury Tax, Entry Tax, Octroi, etc. have been compiled and accumulated under GST. As per the GST regulations, it is mandatory for a business or any supplier that has a turnover of above Rs.40 lakhs (Rs 10 lakhs for special category states present in hill states and North-Eastern states) to get their online GST registration done. The online GST registration process doesn’t require manual intervention or physical paper submission. The process is as simple as it may sound. It is usually completed within 4–6 working days and the supplier is allotted a 15-digit GST identification number and a certificate of registration by the GST department. GST was a great initiative taken by the Indian government and has provided many be