GST Registration

Want To Register for GST? Register Now At Rs.2499/ + Govt Fees

ABOUT GST REGISTRATION

Goods and Services Tax (GST) is an indirect tax (or consumption tax) levied in India on the supply of goods and services. The tax came into effect from July 1 2017 through the implementation of One Hundred and First Amendment of the Constitution of India by the Indian government. The tax replaced existing multiple cascading taxes levied by the central and state governments.

ADVANTAGES

BECOME MORE COMPETITIVE

You will be more competitive in comparison to your unregistered competitors since you will carry valid tax registration.

CAN TAKE INPUT TAX CREDIT

Only Registered GST holders can avail input of GST tax paid on their purchases and save the cost.

APPLY GOVERNMENT TENDERS

Various government tenders requires GSTIN to apply tender. If you don’t have you may miss the business opportunity.

DEALING WITH MNCS

Generally, MNC’s does not comfortable to deal with small business entities until they carry valid tax registration proof.

 
 
EXPAND YOUR BUSINESS ONLINE

You cannot sell products or services on e-commerce platform without GST registration. If you’re planning to give a blow on e-commerce platform like Flipkart, Amazon, Paytm , Shopify or through your own website, you must need a GSTIN.

CAN SELL ALL OVER INDIA WITHOUT ANY RESTRICTIONS

Without having GSTIN you cannot trade inter-state. This is possible only if you registered your business under GST.

OPEN CURRENT BANK ACCOUNT

Especially, in case of sole proprietor business Banks & Financial Institution does not open a current bank account in the name of business trade name unless you carry any government proof in the name of your business. GST registration certificate can help you to open a current bank account.

DOCUMENT REQUIRED FOR REGISTRATION

PAN of the Applicant

Aadhaar card

Proof of business registration or Incorporation certificate

Identity and Address proof of Promoters/Director with Photographs

Address proof of the place of business

Bank Account statement/Cancelled cheque.

Digital Signature

Letter of Authorization/Board Resolution for Authorized Signatory

ELIGIBILITY CRITERIA

CONDITIONAL REGISTRATION

Section 22 of the ACT specifies threshold limit for GST registration. It states that for following suppliers GST registration is required:

  • If the aggregate turnover of any supplier exceeds 20 lakh rupees need GST Registration
  • However, if the supplier is based in any of the Special Category States, this threshold limit of aggregate turnover is 10 lakh rupees need GST Registration. Here special category states include states of north-east India, Himachal, Uttrakhand and Jammu & Kashmir.

MANDATORY / COMPULSORY REGISTRATION

Along with these threshold limits, Section 24 of the Act also specifies a list of suppliers for whom GST registration is mandatory. This list includes the following suppliers:

  • Anyone required to pay tax under reverse charge.
  • Anyone claiming or remitting Input Tax Credit.
  • Any person effecting inter-state supply.
  • Casual taxable person effecting taxable supply.
  • Non-resident taxable person effecting taxable supply.
  • Input Service Distributor
  • E-commerce Operator
  • Any person supplying on behalf of other, whether as an agent or not.
  • Every person supplying online information and database or retrieval service from a place outside India to a person in India, who is not a registered person need GST Registration.
  • A person supplying through E-commerce who collects tax at source u/s 52.

PENALTY

Offenders who do not pay tax or fail to make the full payment will face a penalty of 10% of the tax amount. The minimum amount of fine will be Rs.10, 000 if the 10% amounts to anything less. In case of deliberate tax evasions, offenders will be charged a penalty of 100% of the tax amount. The penalty will be 10% of the tax due in case of genuine errors.

FAQ'S

All businesses that successfully register under GST are assigned a unique Goods and Services Tax Identification Number also know as GSTIN.

If a business operates from more than one state, then a separate GST registration is required for each state. For instance, If a sweet vendor sells in Karnataka and Tamil Nadu, he has to apply for separate GST registration in Karnataka and TN respectively.
A business with multiple business verticals in a state may obtain a separate registration for each business vertical.

Small businesses having an annual turnover less than Rs. 1 crore* ( Rs. 75 Lakhs for NE States) can opt for Composition scheme.

 GST Council decided to increase the limit to Rs. 1.5 crores but notification is awaited.

Composition dealers will pay nominal tax rates based on the type of business:

  • Composition dealers are required to file only one quarterly return (instead of three monthly returns filed by normal taxpayers).
  • They cannot issue taxable invoices, i.e., collect tax from customers and are required to pay the tax out of their own pocket.
  • Businesses that have opted for Composition Scheme cannot claim any input tax credit.

Composition scheme is not applicable to :

  • Service providers
  • Inter-state sellers
  • E-commerce sellers
  • Supplier of non-taxable goods
  • Manufacturer of Notified Goods

 

This scheme is a lucrative option for all SMEs who want lower compliance and lower rates of taxes under GST.
A GST taxpayer whose turnover is below Rs 1 crore* can opt for Composition Scheme. In case of North-Eastern states and Himachal Pradesh, the present limit is Rs 75* lakhs. Turnover of all businesses registered with the same PAN should be taken into consideration to calculate turnover.

 Limit is raised to Rs. 1.5 crores after decision taken by the GST Council. However notification is awaited.

Learn the Rules about Composition scheme & Know the pros & cons of being a composition dealer.
Obtain GST registration and file CMP-02 to opt in for the scheme.

For normal registered businesses:

  • 1. Take input tax credit
  • 2. Make interstate sales without restrictions

B. FOR COMPOSITION DEALERS:

  • 1. Limited compliance
  • 2. Less tax liability
  • 3. High working capital

C. FOR BUSINESSES THAT VOLUNTARILY OPT-IN FOR GST REGISTRATION (BELOW RS. 20 LAKHS)

  • 1. Take input tax credit
  • 2. Make interstate sales without restrictions
  • 3. Register on e-commerce websites
  • 4. Have a competitive advantage compared to other businesses

Yes, you can apply for GST Registration online. You can simply register your business on the official GST portal and then scan and upload all the required documents. You will then receive an acknowledgement. A GSTIN will be generated on acceptance of the application and a temporary password and login will be sent. GSTIN is a unique 15-digit ID.

The validity of GST certificate is forever. It is just a one-time certificate.

The primary authorised signatory is the person who is primarily responsible for performing an action on the GST System Portal on behalf of the taxpayer.