"GST is the Goods and Service tax under which the taxpayer registers itself. It is launched on 1 July 2017 and is mandatory for all businesses. It includes various central taxes like service tax, Excise Duty, CST, and state taxes like entertainment tax, Luxury tax, and VAT are absorbed in one tax. For a business whose turnover exceeds the limit of RS 40 lakh,20 lakh, or 10 lakh in that case GST registration in India is mandatory. If you are running a business without GST registration, a heavy penalty is imposed on you.
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