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GSTIN is a 15 alphanumeric digit unique identification number given to each GST taxpayer.
Who Should Register Under Gst ?
AllIndividuals or entity registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)
If turnover by providing of services is crossing Rs. 20 lakh in a year then GST Registration is mandatory. For the Special Category States, the limit is Rs. 10 lakh in a year.
Threshold Limit Under GST ?
Multiple GST Registrations
More than one GSTIN can be taken on a single PAN. For instance, when an entity has business in multiple states, it can take GST registration in each state.
A business may have business verticals i.e. distinguishable components engaged in business activities different from each other. In a single business there can be a manufacturing and trading units which can be considered as business verticals.
In this case, more than one registration can be obtained even when the Head Office and branches are located in the same state.
Penalty For Non-Registeration ?
An offender not paying tax or making short payments (genuine errors) has to pay a penalty of 10% of the tax amount due subject to a minimum of Rs.10,000.
The penalty will at 100% of the tax amount due when the offender has deliberately evaded paying taxes.