GST registration can be of 2 types.
- Compulsory Registration
- Voluntary Registration
1. Compulsory Registration
- If the turnover exceeds Rs. 20,00,000/- (turnover includes sales and purchase), registration is required to be obtained within 30 days from the date on which turnover exceeds this limit. The limit is Rs. 10,00,000/- if the establishment is in Special Specified States
- For any interstate transaction, GST Registration is required.
2. Voluntary Registration
- Anyone wants to start a business with VAT-CST registration, they can obtain the same with stipulated deposits and security amount. This varies state to state.