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Questions and Answers
What happens if a business carries on business without registering under GST?
What happens if a business carries on business without registering under GST?
- Threshold limit increases
- Heavy penalties apply (correct)
- Automatically gets registered under GST
- No penalties apply
What is the consequence of a business exceeding the threshold limit under GST?
What is the consequence of a business exceeding the threshold limit under GST?
- Automatically becomes exempt from GST
- Limited liability protection
- No action required
- Must register as a normal taxable person (correct)
How long does GST registration typically take?
How long does GST registration typically take?
- 24 hours
- 2-6 working days (correct)
- More than a month
- 1-2 weeks
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