Is GST required for every business? Let us discuss this in detail. GST - Goods and Services Tax is applicable on Goods (Manufactured, Finished, Raw, and etc...) and Services offered. In the case of Goods, if your yearly turnover is less than Rs. 40 lakhs, you might not need to register for GST. And for the services, the turnover should be less than Rs.20 lakhs. This threshold slightly differs from State to State. GST varies from Business to business. Handicrafts and Agriculture have few exemptions, and this differs on Inter & Intrastate movements. Check the full video to know about the GST registration in detail. If you have registered GST just for the documental purpose, you should still file GST every month though there are no sales/business to avoid late penalties.
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2 мар 2021