How to Secure GST Registration

The Goods and Services Tax (GST) hasized the way taxes are collected in India, aiming to simplify the indirect tax system. One crucial aspect of GST compliance for businesses operating in India is obtaining GST registration. Finitra Finnovation will guide you through the process of securing GST registration, outlining the steps, requirements, and common pitfalls to avoid for a smooth registration experience.

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Overview

GST is short for Goods and Service tax. It was implemented on July 1, 2017. It is one of the largest transformations of tax collection in Indian history. A GST return is a document containing details of all income/sales and/or expense/purchase that a taxpayer (every GSTIN) must file with the tax administrative authorities. The implementation of this tax eradicated many others and merged all of them into a single one. In most cases, GST is less than the earlier norms of taxes, such as Service tax, VAT and Excise duty. GST filing is used by tax authorities to calculate net tax liability. In the GST norms, any regular business must file three monthly returns and one annual return.