GST Registration

What is GST Registration?

With effect from 1stJuly 2017, GST was launched all over India, except in the state of Jammu & Kashmir. Subsequently, on 8thJuly 2017, Jammu & Kashmir also came under the purview of GST, and the entire nation was brought under a unified indirect tax system. GST applies to all traders, manufacturers and service providers. Various taxes like Service Tax, Central Excise, State Excise, Entertainment tax and different central and states taxes are subsumed under one tax, i.e., GST. It is a tax leviable on the supply of goods or services or both, except alcoholic liquor for human consumption.

The GST registration process is simple to register. GST/ online GST registration is all-in-one tax that has subsumed the State(VAT, Entertainment Tax, Luxury Tax, Octroi) and central taxes (CST, Service Tax, Excise Duty). The entire process of Online GST Registration is done on the online basis and there is no manual intervention of the individual to go and submit the documents; all the documents are submitted online. GST is a destination based, multiple stage tax system which is levied on the value addition of goods or services. For example- if the product is made in Delhi and its consumption is in Haryana then the entire revenue will go to Haryana instead of Delhi. We, can talk about the small taxpayer with a turnover of less than Rs.1.5 crore (Rs. 75 Lakhs for the Special Category States) can opt for the Composition scheme they can opt for Composition scheme to get rid of the GST Returns on monthly basis and opt for Quarterly return and pay the GST on Fixed Rate of turnover.

There are five products that are not presently leviable to GST. These products are petroleum crude, diesel, petrol, aviation turbine fuel and natural gas. GST will be charged on these products from such date as may be notified by the government on the recommendations of the GST Council.                     

How to take GST Registration online?

For GST Registration online, every business or company must have an annual turnover of more than Rs.40 lakh. In the GST registration online you just have to give details to our expert team. They will ask for documents wherein differs on the basis of LLP, OPC & partnership, etc. The online submission of all the documents and after that in 5-6 days 9subject to governments’ approval) you will get a GST number.

ADVANTAGES OF TAKING GST REGISTRATION

* The taxpayer gets recognized   by law as a supplier of goods and services.
* No Cascading effect of tax in product price, which improves the export prospects for the registered persons.
* Lesser number of compliances than previous laws due to a simplified return filing system.
* Benefit of Input tax credit (ITC) on inward supplies.
* Registered persons are eligible to avail of various other benefits and privileges provided under the GST laws.

 Who can apply for New GST Registration?

Any person or entity that meets the criteria set by the Goods and Services Tax (GST) law in India is eligible and required to apply for new GST registration. Here are the key categories of individuals and businesses that should apply for new GST registration:

1) Mandatory Registration Threshold

Businesses whose aggregate turnover in a financial year exceeds the prescribed threshold limits are required to obtain GST registration. As of my last knowledge update in January 2022, the threshold limits are:

INR 40 lakhs for goods (INR 10 lakhs for special category states).

INR 20 lakhs for services (INR 10 lakhs for special category states).

2) Inter-State Supply

Businesses involved in the supply of goods or services across different states, regardless of their turnover, are required to register for GST.

3) Casual Taxable Person or Non-Resident Taxable Person

Individuals or businesses undertaking occasional transactions (casual taxable persons) or non-resident taxable persons are required to register for GST.

4) E-commerce Operators

E-commerce operators need to register for GST, irrespective of their turnover. They are also required to collect and deposit tax at source (TCS) on certain transactions.

5) Input Service Distributor (ISD)

Offices of the supplier of goods or services that receive tax invoices for input services and distribute the tax credit must register for GST.

6) TDS (Tax Deducted at Source) and TCS (Tax Collected at Source)

Entities required to deduct TDS or collect TCS while making payments must register for GST.

7) Voluntary Registration

Businesses or individuals with turnover below the mandatory threshold limits may opt for voluntary registration to avail themselves of input tax credit benefits and to comply with the regulatory framework.

8) Special Category States

In certain states and Union Territories, special category states have lower threshold limits for mandatory registration. Businesses operating in these regions should be aware of the specific thresholds applicable to them.

9) Other Special Cases

Certain categories of entities, such as UN bodies, embassies, and other notified persons, may be required to register for GST under special provisions.

DETAILS AND DOCUMENTS REQUIRED FOR GST REGISTRATION

GST Registration for Proprietorship

Here’s a comprehensive list of the details and documents required for GST registration for a proprietorship

Details Required:

1) PAN (Permanent Account Number) of the Applicant:

PAN card of the proprietor is a mandatory requirement for GST registration.

2) Aadhaar Card of the Applicant:

 Aadhaar card details are required for identity verification.

3) Business Name and Address:

The legal name of the business and the principal place of business, along with additional places of business if any.

4) Proof of Business Registration:

Any document providing proof of the existence of the business, such as the certificate of incorporation or partnership deed.

5) Details of Business Activities:

Information about the type of goods or services provided by the business.

6) Bank Account Details:

Bank account number, IFSC code, and a copy of a cancelled cheque or bank statement.

7) Authorized Signatory Details:

Details of the person authorized to sign and submit the GST application.

8) Photographs:

Passport-sized photographs of the proprietor.

(Documents Required:)

1) PAN Card of the Proprietor:

Copy of the PAN card of the proprietor.

2) Aadhaar Card of the Proprietor:

Copy of the Aadhaar card for identity verification.

3) Address Proof:

Any one of the following documents can be submitted:

* Electricity bill
* Rent agreement
* Property tax receipt
* Municipal Khata copy
* Consent letter

The document should be in the name of the proprietor or the document owner should provide a no-objection certificate.

4) Business Registration Proof:

Depending on the type of business, submit the following:

For a proprietorship: Sole Proprietorship Declaration or Partnership Deed (if applicable).

5) Bank Details:

Scanned copy of the first page of the bank passbook or a cancelled cheque.

6) Authorized Signatory Details:

Authorization letter and photographs of the authorized signatory.

7) Digital Signature Certificate (DSC):

Not mandatory, but it is advisable to sign the application using a digital signature for authenticity.

8) Additional Documents (if applicable):

Depending on the nature of the business, additional documents may be required.

(GST Registration for Private Limited Company)

* Email & mobile number of the Company
* Email & mobile number of every director
* Description of Goods & Services
* Nature of Business

Registration details under other laws, if any (e.g., TIN, IEC Code, etc.)

* PAN card copy of Company
* Certificate of Incorporation
* Memorandum of Association
* Articles of Association
* PAN card copy, photograph and residential address proof of all directors
* Proof of office address (utility bill and ownership proof)
* Proof of appointment of authorized signatory
* (GST Registration for Limited Liability Partnership)
* Email & mobile number of the LLP
* Email & mobile number of every partner
* Description of Goods & Services
* Nature of Business
* Registration details under other laws, if any (e.g., TIN, IEC Code, etc.)
* PAN card copy of LLP
* Certificate of Incorporation
* LLP Deed
* Copy of PAN card, photograph and address proof of all partners
* Proof of place of business (utility bill and ownership proof)
* Proof of appointment of authorized signatory