GST REGISTRATION in India

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In the GST Regime, businesses whose turnover exceeds Rs. 40 lakhs* (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. This process of registration is called GST registration.

GST registration usually takes between 2-6 working days.

Who is required to register for GST?

For certain businesses, registration under GST is mandatory. If the organization carries on business without registering under GST, it will be an offence under GST and heavy penalties will apply. Followingar erequired to register under GST

  • Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)
  • Businesses with turnover above the threshold limit of Rs. 40 Lakhs* (Rs. 10 Lakhs for North-Eastern States, J&K, Himachal Pradesh and Uttarakhand)
  • Casual taxable person / Non-Resident taxable person
  • Agents of a supplier & Input service distributor
  • Those paying tax under the reverse charge mechanism
  • Person who supplies via e-commerce aggregator
  • Every e-commerce aggregator
  • Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person

Steps for GST REGISTRATION

  • 1

    Documentation

    The documents required depends on the applicant type,(refer documents mentioned below) the first step is to arrange the documents required for GST Registration.

  • 2

    Application for GST IN

    The applicant is registered on GST Portal for submission of the application, for this purpose OTP is sent on the phone and email.

  • 3

    ARN GENERATION

    ARN is generated after submission of application on the GST Portal with all information and required documents

  • 4

    GST REGISTRATION

    After generation of ARN, the certificate of GST registration is issued by the GSTIN and GST Number is allotted in approx a week time.

Documents Required

  • 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

What services do we offer?

  • Consultation on GST
  • Filing of Application for GST Registration
  • Secure GST Identification Number
  • GST Registration

FAQ

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. 1.5 crore** ( Rs. 75 Lakhs for NE States) can opt for Composition scheme.

**CBIC has notified the increased in the threshold turnover for opting into the Composition Scheme from Rs 1 crore to Rs 1.5 crores. The notification will be effective from 1st April 2019.

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 1.5 crore** can opt for Composition Scheme. In case of North-Eastern states and Himachal Pradesh, the present limit is Rs 75 lakh.

Turnover of all businesses registered with the same PAN should be taken into consideration to calculate turnover.

**CBIC has notified the increased in the threshold turnover for opting into the Composition Scheme from Rs 1 crore to Rs 1.5 crores. The notification will be effective from 1st April 2019. Learn the Rules about Composition scheme & Know the pros & cons of being a composition dealer.

  1. For normal registered businesses:
    1. Take input tax credit
    1. Make interstate sales without restrictions
    2. To know more about the Benefits of GST
  1. For Composition dealers:
  2. Limited compliance
    1. Less tax liability
    2. High working capital
    3. To know more about composition scheme
  1. For businesses that voluntarily opt-in for GST registration (Below Rs. 40 lakhs*)
  2. Take input tax credit
    1. Make interstate sales without restrictions
    2. Register on e-commerce websites
    3. Have a competitive advantage compared to other businesses
    4. To know more about voluntary registrations

*CBIC has notified the increase in threshold turnover from Rs 20 lakhs to Rs 40 lakhs. The notification will come into effect from 1st April 2019.

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