GST Registration

Rs.1,990.00

GST is the biggest tax reform in India, tremendously improving ease of doing business and increasing the taxpayer base in India by bringing in millions of small businesses in India

GST Registration

Price: Rs.1,990.00

GST is the biggest tax reform in India, tremendously improving ease of doing business and increasing the taxpayer base in India by bringing in millions of small businesses in India. By abolishing and subsuming multiple taxes into a single system, tax complexities would be reduced while tax base is increased substantially. Under the new GST regime, all entities involved in buying or selling goods or providing services or both are required to register for GST. Entities without GST registration would not be allowed to collect GST from a customer or claim an input tax credit of GST paid and/or could be penalized. Further, registration under GST is mandatory once an entity crosses the minimum threshold turnover of starts a new business that is expected to cross the prescribed turnover.

There are various types of GST registration and some types of entities like casual taxable persons, non-resident taxable persons or persons supplying through e-commerce operators are required to mandatorily obtain GST registration irrespective of turnover limit. The GST turnover limit for regular GST registration for service providers and goods supplier is provided below.

Service Providers: Any person or entity who provides service of more than Rs.20 lakhs in aggregate turnover in a year is required to obtain GST registration. In special category states, the GST turnover limit for service providers has been fixed at Rs.10 lakhs.

Goods Suppliers: As per notification No.10/2019 any person who is engaged in the exclusive supply of goods whose aggregate turnover crosses Rs.40 lakhs in a year is required to obtain GST registration.

Special Category States: Under GST, the following are listed as special category states – Arunachal Pradesh, Assam, Jammu and Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh and Uttarakhand.

Aggregate Turnover: Aggregate turnover = (Taxable supplies + Exempt Supplies + Exports + Inter-State Supplies) – (Taxes + Value of Inward Supplies + Value of Supplies Taxable under Reverse Charge + Value of Non-Taxable Supplies).

Aggregate turnover is calculated based on the PAN. Hence, even if one person has multiple places of business, it must be summed to arrive at the aggregate turnover.

Any person or entity irrespective of business turnover can obtain GST registration at any time. Hence, GST registration is obtained by many businesses in spite of not reaching the aggregate turnover limit. Some of the main reasons for obtaining voluntary GST registration are:

  • To improve the business credibility
  • To satisfy the requirements of B2B customers
  • To claim to input tax credit benefits

Entities registered under GST have various responsibilities and compliance requirements from time to time. Failure to comply with the GST regulations or compliance requirements can lead to penalties and revocation of GST registration by the authorities. Some of the main responsibilities of a person registered under GST include:

  • Collecting and remitting GST amount from customers
  • Issuing proper GST invoice as per the GST rules and regulations
  • Filing GST returns whenever due based on turnover – even if there is no turnover or business activity
  • Filing annual GST return
  • Maintaining all records pertaining to GST for a period of 8 years

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Turnover Criteria

  • Rs.20 lakhs for service providers and Rs.40 lakhs for goods suppliers, except in special category states

Eligibility

  • Any person or entity supplying goods or services in India above the aggregate turnover limit is mandatorily required to obtain GST registration

Documents

  1. Certificate of Incorporation
  2. Photo of Directors along with identity and address proof
  3. Photo of the Authorized Signatory
  4. Proof of Principal Place of business (Any One)
    1. Electricity Bill
    2. Legal ownership document
    3. Municipal Khata Copy
    4. Property Tax Receipt
    5. Rent Agreement
    6. Rent Bill (With NOC from Landlord)
  5. Proof of Bank Details (Any One)
    1. First page of Pass book
    2. Cancelled Cheque
    3. Current Month Bank Statement
  6. DSC of Director to file GST application and GST returns.

  1. PAN Card
  2. Aadhar Card
  3. Photo of Applicant
  4. Proof of Principal Place of business (Any One)
    1. Electricity Bill
    2. Legal ownership document
    3. Municipal Khata Copy
    4. Property Tax Receipt
    5. Rent Agreement
    6. Rent Bill (With NOC from Landlord)
  5. Proof of Bank Details (Any One)
    1. First page of Pass book
    2. Cancelled Cheque
    3. Current Month Bank Statement
FAQ

Do you have Any Questions?

When do I need to register for GST?

GST Registration is required in case of:
Business: If annual Sales is more than Rs.40 lacs
Service/Profession: If annual Gross Receipts is more than Rs.20 lacs
Export of Goods/Service (Including working for a company based outside India): Mandatory irrespective of annual sales/receipts

GSTR-3B needs to be filed by all GST taxpayers on monthly basis.
GSTR-1 needs to be filed on Quarterly basis if annual turnover is up to Rs.1.5 crores, and on Monthly basis if annual turnover is more than Rs.1.5 crores.

If you’re working for a company based outside India, then you are exporting services outside India. In this case, you don’t need to pay any GST. However, GST registration and regular return filing declaring receipts (with an exemption for export of service) are mandatory.

GSTR-3B: This return has a summary of total sales & purchases with corresponding GST on it. GST liability needs to be paid while filing this return.
GSTR-1: This return submits list of all invoices raised during the period.

GST is applicable for all businesses and professions if they meet the criteria of registration, irrespective of whether the business/profession is conducted as a Company or Individual.

You can claim input credit of GST paid on all expenses incurred for your Business/Profession, and pay the net GST liability. In other words, you can claim deduction for GST paid on expenses against your GST liability.

Late payment of GST attracts interest on monthly basis and late filing of GST return attracts penalty for each day of delay.

No, GST return filing is mandatory and should be continued till you have a GST registration. Even if you temporarily stop your business/profession, still you should keep filing nil GST returns on time to avoid late fee and penalty.

Yes, if you have permanently shut down your Business/Profession, then you can apply for cancellation of your GST registration. However, GST return needs to be filed till the date GST cancellation request is approved by GST department.

No. An entity operating in multiple states will have to get registered separately for each of the States from where taxable supply of goods or services is made.

An entity liable to be registered under GST should apply for registration under GST within 30 days from the date on which the entity becomes liable to register for GST. Casual taxable persons and non-resident taxable persons are required to be registered under GST, prior to commencing business.

Yes. Any entity wishing to claim input tax credit can register voluntarily, even if not liable to be registered. After registration, voluntarily registered entities will also have to comply with regulations as applicable to a normal taxable person.

Once GST certificate is granted, the registration is valid until its surrendered or cancelled or suspended. Only GST certificate issued to non-resident taxable person and casual taxable person have a validity period.

No, an unregistered person without GSTIN cannot collect GST from customers or claim input tax credit of GST paid.

Aggregate turnover is the aggregate value of all taxable supplies, exempt supplies, export of goods or services or both and inter-State supplies of a person having same PAN. Aggregate turnover does not include CGST, SGST, IGST and GST cess.

Businesses or entities supplying goods or services must register for GST from every State from where taxable supply of goods or services or both is made.