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An individual or a person with a sole proprietorship in a business can register under GST (Goods and Services Tax). Anyone who engages in any economic activity, including trade and commerce, can voluntarily register under GST Act. Individuals who register for GST can sell their items across the country. GST registration, as a legal entity registration, provides legal proof of the proprietor’s business.
A 'taxable person' under GST is anyone who conducts any business in India and is registered under the GST Act. Any person involved in the supply of products whose turnover in a fiscal year exceeds Rs.40 lakhs (Rs.20 lakhs for people from Special Category states) is required to register for GST.
Anyone can register under GST once their turnover exceeds the specified threshold limits.
Individuals who are not required to register for GST include those who supply goods or services, or both, that are not taxed. Individuals who sell goods or services, or both, that are entirely exempt from tax, are also exempt from obtaining GST registration.
GST Registration is the process through which a taxpayer registers for GST.
When a firm is successfully registered, they are given a unique registration number known as the Goods and Services Tax Identification Number (GSTIN).
This is a 15-digit number assigned by the federal government to taxpayers after they register.
Anyone who has registered voluntarily but has not started a business within six months of the date of registration will have his registration terminated.
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