Non Compliance: Trade License is a mandatory requirement for every business. Hence, if any business owner fails to get one before starting a business, he or she is liable to pay a fine or may face legal repercussions.
At Arjuna we provide access to reliable professionals and coordinate with them to fulfil all your statutory compliances. We will also track the progress and provide regular updates about the matter.
Every business or corporation that are involved in the buying and selling and good of services have to register for GST. It is mandatory for companies whose turnover is more than Rs.20 lakhs (for supply of services) and Rs. 40 lakhs ( for supply of goods) yearly to register for a GST.
All businesses making interstate outward supplies of goods have to register for a GST too. The same applies to businesses making taxable supplies on behalf of other taxable persons, example Agents and Brokers.
Also, as per the recent notification, e-commerce sellers/aggregators need not register if total sales are less than Rs.20 lakhs.
