BENEFITS OF GST REGISTRATION
Provide an input tax credit to customers
A person/business becomes legally authorized to collect tax from his purchasers and pass on the credit of the taxes paid on the goods or services supplied to purchasers or recipients.
Take input credit.
Voluntarily registered persons can take input credit on their own purchases and input services like legal fees, consultation fees, etc. This is beneficial for increasing their business margin and profitability in the longer run.
Make inter-state sales without many restrictions
Businesses registered under GST can make inter-state sales without many restrictions. Thus, it widens the potential market for SMEs. These SMEs can also opt for selling their goods online through the e-commerce platform.
Easy Loan facility
By showing your sales turnover in GST returns, you can easily avail any bank loans depends on your turnover. Govt. is facilitating by automated approvals for the GST registered people through a special website.
More business
Corporate companies always willing to do business with GST registered people only, by registering with GST you can do more business.
Nation Building
Most important thing is by paying GST on every transaction you are making our country strong and a super power among the world. It will help to create more development for all of us for a better future.
WHO ARE REQUIRED TO GET GST REGISTRATION..?
The criteria for people that are required to be registered under GST is provided under Chapter 6 of the GST Act. As per the GST Act, the following persons are obliged to obtain GST registration:
Aggregate Turnover Criteria : Limit for sale of goods

Turnover : Exceeds Rs. 40 lakhs
Applicable state : All states of India except Jammu and Kashmir, Puducherry, Assam, Meghalaya, Mizoram, Tripura, Manipur, Sikkim, Nagaland, Arunachal Pradesh, Uttarakhand.

Turnover : Exceeds Rs. 20 lakhs
Applicable state : Jammu and Kashmir, puducherry, Assam, Meghalaya, Mizoram, Tripura, Manipur, Sikkim, Nagaland, arunachalpradesh, uttarakhand.

Aggregate Turnover Criteria : Limit for service provider

Turnover : Exceeds Rs. 20 lakh
Applicable state : All states of India except Jammu and Kashmir, Puducherry, Assam, Meghalaya, Mizoram, Tripura, Manipur, Sikkim, Nagaland, Arunachal Pradesh, Uttarakhand.

Turnover : Exceeds Rs. 10 lakh
Applicable state : Jammu and Kashmir, puducherry, Assam, Meghalaya, Mizoram, Tripura, Manipur, Sikkim, Nagaland, arunachalpradesh, uttarakhand.

Interstate suppliers:
Inter-state supply is supplying goods from one state to another. Hence, any taxable person who is involved in supplying goods to anyone outside the state is required to obtain GST registration.

Casual taxable persons:
A casual taxable person is an individual who supplies goods or services on an occasional basis and does not have a fixed place of business over there. A casual taxable person is required to obtain compulsory registration irrespective of the aggregate turnover in the previous year. An exemption has been given to a person engaged in the supply of handicraft goods.

Person liable to pay tax on reverse charge basis:
In some cases, the liability to pay tax (GST) would levy with the recipient of the goods or services, instead of the supplier. Any person who is liable to pay tax under the reverse charge basis is mandatorily required to obtain GST registration and pay tax accordingly.

Non-resident taxable persons:
A non-resident person who is making any taxable supply in the taxable territory is required to register under the GST regime.
Persons required to deduct TDS/TCS under GST
A person who is required to deduct TDS/TCS under GST (Goods and Service) Act is required to get itself registered under GST compulsorily.

Input service distributors:
An Input Service Distributor (ISD) is a business that receives an invoice for services used by them or their branches. It is not involved in the supply of goods or services directly. All the ISD are responsible for passing the GST credits received by them to their branches monthly. It is mandatory for all the ISD to obtain registration under the GST Act as an ISD.

Individuals making a sale as an agent or principal:
Any person who makes a taxable supply of goods or services on behalf of other people such as brokers, agents, dealers, distributors, etc are obliged to obtain the GST registration irrespective of their turnover.

Suppliers involved in supply goods through e-commerce operator:
A supplier/business making a supply of its goods through an electronic commerce operator is required to get themselves registered under GST.

Every e-commerce operator who provides a platform to suppliers through its portal:
E-commerce operators who allow others to make a supply of goods or services through their portal are required to obtain the GST registration.

Online service providers providing service from outside India to a non-registered person in India:
A person/company supplying online information, database access or retrieval from outside India is instructed to get itself registered under GST irrespective of the turnover in the previous year. E.g. Netflix has to get itself registered and pay taxes under normal charges for providing services from outside of India.
Penalty for not registering under GST
Goods and Service Tax Act levies a direct penalty on the persons who are required to obtain GST registration but fails to take it. As per Section 122 of the CGST Act, any person who is required to obtain GST registration but fails to do so is liable for a minimum penalty of INR 10,000 or the amount of tax evaded whichever is higher.
Regular Compliance after GST Registration
Business registered under the GST Act are required to comply with various compliance from time to time, failure to which can have penalties and revocation of GST registration by the authorities. Some of the primary responsibilities of a person registered under GST include:

(I) Filling of GST returns (Monthly/Quarterly/Yearly) regularly
(II) Collecting GST from customers and paying the same to the government on monthly and quarterly basis.
(III) Issuing a proper GST invoice as per the GST rules and regulations is mandatory.
(IV) Maintaining all records pertaining to GST for eight years like Bills, receipts, invoice etc.

Once you are registered under the GST, our Sapthagiri Tax Team can help you with all the mandatory compliance at a reasonable fee.