GST registration is required for all businesses with minimum annual turnover of over ₹40 lakhs (for goods) and ₹20 lakhs (for services).

*For special category states – ₹20 lakhs (for goods) and ₹10 lakhs (for services)

GST is a single, multi-stage, destination-based tax system. It hence replaces and removes multiple indirect taxes (e.g., VAT, service tax, excise duties, etc.). 

#1 Unified tax system A simplified, comprehensive, nationwide tax system.  No need to pay multiple taxes at different touchpoints or be impacted by cascading taxes.

#2 Increased cash flow You can claim Input Tax Credit to increase cash flow.  That is, reduce tax liabilities by offsetting taxes paid during purchases against taxes due during sales .

#3 Keep business compliant GST filing is an online process. It’s transparent and trackable. This reduces tax evasion and litigation costs, and keeps  business compliant.

#4 Ease in goods transportation With GST , inter-state taxes  are now simplified. There's reduced transportation cost, better route optimisation, improved warehousing and distribution systems.

#5 Competitive single-market nationwide GST slabs and rules are uniform for all businesses.  This increases fair competition and creates opportunities for market expansion.

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