The introduction of Goods & Services Tax (GST) in 2017 made it mandatory for all individuals and companies to pay a centralised composite tax on purchasing products and services. The newly introduced integrated taxation system seemed a bit cumbersome and unrequited initially. However, it had several advantages. E.g., the large incremental value of products & services. So, whether you are already running a small business or willing to start one, it is important that you get acquainted with the GST registration process, laws, and other requisites associated with it, to avoid paying a hefty amount as tax.
Eligibility Criteria for Businesses:
GST registration is mandatory for : Companies with a yearly turnover of more than Rs. 40 Lakhs (for goods) and Rs.20 lakhs (for services) are required to register for GST and pay taxes on their taxable goods and services. Businesses with a yearly turnover of less than Rs. 40 Lakhs are not required to register for GST, but can choose to register for GST voluntarily. This is beneficial for businesses as it enables them to avail of input tax credit and other benefits.
GST Service Guidance Provided By Swasthik & Co
The company will offer you top-notch GST service based on your unique business needs. The team of experts at swasthik & Co. is well aware of the rules and regulations of the country, they will offer you service based on that. The GST consultants in Bangalore will offer you the necessary guidelines on multiple GST-related services like GST amnesty scheme and other services like:
- GST Refund.
- GST Notice.
- GST Services.
- GST Audit.
- GST Filling.