Here are a few reasons why you should register your business for GST:
1. Legal Requirement
If your business makes more than ₹20 lakh in a year (₹10 lakh in special cases), you must register under GST. If you do not, you may face fines or legal issues.
2. Sell Across States
If you sell goods or services outside Andhra Pradesh, GST registration is compulsory, no matter how much you earn. This is important for online sellers and service providers.
3. Input Tax Credit
Once you are registered, you can claim credit on the GST you pay for business expenses. This helps lower your tax burden and saves money.
4. Trusted by Buyers and Partners
A business with a GSTIN (GST Identification Number) looks more professional and trustworthy. Your customers and suppliers will be more confident in working with you.
5. Helps with Loans and Tenders
Many banks and government departments require GST registration details when you apply for business loans or participate in tenders.