Podcast
Questions and Answers
What is the consequence of an organization carrying on business without registering under GST?
What is the consequence of an organization carrying on business without registering under GST?
- Heavy penalties will apply (correct)
- An exemption from GST
- A tax refund
- No consequences
For businesses under GST, at what turnover threshold is GST registration mandatory?
For businesses under GST, at what turnover threshold is GST registration mandatory?
- Rs.50 lakh
- Rs.30 lakh
- Rs.20 lakh (correct)
- Rs.10 lakh
How long does GST registration usually take?
How long does GST registration usually take?
- 2-6 days (correct)
- 2-6 months
- 2-6 weeks
- 2-6 hours
What is the consequence for businesses that carry on business without registering under GST?
What is the consequence for businesses that carry on business without registering under GST?
In how many working days can GST registration usually be completed?
In how many working days can GST registration usually be completed?
When is registration under GST considered mandatory for businesses?
When is registration under GST considered mandatory for businesses?
Study Notes
GST Registration Consequences
- Failing to register under GST can have consequences for businesses.
- Businesses that carry on business without registering under GST will face consequences.
GST Registration Threshold
- GST registration is mandatory for businesses with a turnover threshold of ₹40 lakhs for goods and ₹20 lakhs for services.
GST Registration Timeline
- GST registration usually takes around 3-5 working days to complete.
- GST registration can usually be completed in 3-5 working days.
Mandatory GST Registration
- Registration under GST is considered mandatory for businesses with a specified turnover threshold.
- Businesses crossing the turnover threshold must register under GST.
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Description
Test your knowledge on Goods and Services Tax (GST) registration process. Learn about the thresholds for registration, penalties for non-compliance, and the timeframe for completing the registration process.
