Segment 10 of the GST law contains the provision with respect to the registration of a taxpayer under symphony scheme. The fundamental standard hid the composition scheme is to minimize the burden of COMPLIANCE for small taxpayers. There are around 8 million taxpayers that are expected to be migrated from the current laws into the GST administration. However, a considerable lot of these taxpayers will have a restricted turnover and may not have essential assets and expertise to obey all the procedures mentioned under the GST.
According to the GST Council, entities in exceptional classification states with an annual turnover of Rs.10 lakhs and above would be required to register under GST. All other entities in rest of India would be required to register for GST if annual turnover exceeds Rs.20 lakhs. There are likewise different other criteria's, that could make an entity liable for obtaining GST registration – regardless of annual sales turnover. Entities required to register for GST as per regulations must document for GST application within 30 days from the date on which the element became liable for registration under GST.
Capital flow is the leading business services platform in India, offering a variety of services like income tax filing, GST return filing, private limited company registration, trademark filing and more. Capital flow can help you obtain GST registration in India and maintain GST COMPLIANCE through a proprietary GST accounting software. The average time taken to obtain GST Certificate is about 5 - 10 working days, subject to government processing time and client document submission. Get a free consultation on GST and GST return filing by scheduling an appointment with a Capital flow Advisor.