GST Exemption for Private Limited
GST Exemption for Private Limited, A private limited company is a type of business entity that can operate without GST (Goods and Services Tax) depending on the specific circumstances and applicable regulations.
In general, businesses in India with an annual turnover below the GST threshold (currently INR 40 lakhs for most states) not required to register for GST and are exempt from collecting and remitting GST on their sales. However, it’s important to note that this threshold may vary based on the state and nature of the business.
If a private limited company’s turnover exceeds the GST threshold, it must register for GST and comply with the related obligations, such as collecting and remitting GST, filing regular returns, and maintaining proper records.
To ensure accurate and up-to-date information regarding GST requirements for your specific situation, it is advisable to consult with a qualified accountant or tax professional familiar with the latest GST regulations in your jurisdiction.
To visit https://www.gst.gov.in/
For further details access our website https://vibrantfinserv.com