A Individual person starting a trading business (buying and selling), does he required GST registration or not , and When GST Registration is Required or Mandatory For Business in India, please clarify with details.
21 September 2020
When your turnover is,only for supply of goods, in a year reaches Rs. 40 lakhs then you have to get registered under GST. But if you are also supplying services then the limit is Rs. 20 lakhs.
22 September 2020
At the starting stage you may not require GST Registration till the turnover cross 40lakhs.
If it is trading in shares then GST Registration is not required if it is in equity segment.
But better to analyse your business, and you may take voluntarily registration under GST to claim Input Tax Credit..
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