Goods and Services Tax is an indirect tax used in India on the supply of goods and services. It is a destination-based tax and comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.
Who should Register for GST?
- Individuals registered under the Excise, VAT, and Service Tax etc.
- Businesses with turnover above the threshold limit of INR. 40 Lakhs.
- Every e-commerce aggregator.
- Resident taxable person or Non-Resident taxable person.
- Agents of a supplier & Input service distributor.
Documents required for GST Registration
The main documents for GST registration include:
- PAN card.
- Proof of business registration identity.
- Address proof of persons and the business address proof.
- Bank account statements.