For any new business, navigating the difficulties of GST (Goods and Services Tax) filing can feel overwhelming. While GST streamlines various indirect taxes, adhering to its regulations can be a challenge, especially for startups with limited resources and tax expertise. Not all startups require GST registration. As per the GST Act, businesses with an annual turnover exceeding ₹20 lakh for Services and 40 Lakh for Goods must register for GST. Consulting a GST advisor in Bangalore is crucial to determine your eligibility and understand the implications of registration. They can guide you through the intricacies of the Composition Scheme, a simplified lesser GST tax payment option available for startups with a turnover below ₹ 50 Lakh for Services and 1.5 crore for Goods.

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