New Delhi, May 12 -- If you run a business and are wondering whether GST registration is necessary, this Mint guide will help you navigate the essentials. While the decision hinges on your annual turnover, that's not all there is to it. GST registration is not just about hitting a certain sales figure - it's also about the nature and geography of your operations.

Let's start with the basics. The GST Act prescribes turnover thresholds for mandatory registration. For goods, registration is required once annual turnover exceeds Rs.40 lakh, and for services the threshold is Rs.20 lakh (though lower thresholds may apply to special category states).

However, even if your turnover is below these thresholds, registration is mandatory in specifi...