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GST - Goods and Services Tax, the term which entered our lives in 2017 and has us drowned in the whirlpool since then.
For startups and businesses providing specific services or selling specific goods and having a certain annual turnover, GST registration is compulsory. Having a legal professional by your side while going for GST registration can help save a lot of time and also evade any doubts. In case if someone privately wishes to register for GST, document review by the experts is recommended since the documentation has to be on point to succeed in GST registration in one go.
It may be noted that there are some businesses which are exempt from GST registration. Does your business fall under one of those categories?
Once GST registration process is done with, a 15-digit code called the GST number is allotted. This number serves as the identity of a GST registered business, used for filing GST returns and claiming tax credits.