Get to know about the steps of the GST registration process
29 Jul, 2024
India’s economical growth depends mostly on the agricultural sector. A large number of Indian citizens work as framers and are involved in agriculture. After the introduction of the GST taxation in 2017, small scale farmers were worried about the taxation scheme to be implemented on them.
But, the Ministry of Finance has exempted GST for all the small-scale farmers but the big agricultural sectors and companies fall under the GST taxation policy. This way, the GST taxation system tries to provide a favorable environment for the farmers and the agriculture domain of India.
As per the GST regime, only an individual or a Hindu Undivided Family who can be defined as an ‘agriculturist’ is exempted from GSTIN generation. As per the GST Act, an agriculturist is the one who practices cultivation of land by:
So, small cultivators would be exempt from GST taxation. Any person who owns a company or LLP which is involved in the purpose of cultivation or agriculture would be required to obtain GST registration if the annual turnover limit is crossed.
When a company or entity practices cultivation and crosses the annual turnover limit, they can easily generate a GSTIN by applying for GST Registration online.
Be it GST Registration, GST Return filing, or any other formal procedure like Company registration, LLP Registration, Online Legal India™ is your singular solution platform where you get professional guidance from experts and the charges are unbelievably low!
Apart from that, our expert business solution team would guide you to get an APEDA License to start an export business of agricultural products to the foreign market.
Get to know about the steps of the GST registration process
29 Jul, 2024
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