GST Registration

Goods & Service TAX Registration

GST is an indirect tax that will be levied on goods and services. This tax will be substitute for all indirect tax levied by state and central government.
There are 3 Components of GST : Central Goods and Services Tax or CGST (levied on intrastate supplies by the central government),
State Goods and Services Tax or SGST (levied on intrastate supplies by respective state governments) and Integrated Goods and Services Tax or IGST (levied on interstate supplies by the Centre (equal to CGST + SGST combined on supplies made within the state).

Why Goods And Service Tax (GST)?

1. Businesses whose turnover exceeds Rs. 40 lakhs* ( Rs.10 lakh for businesses that are present in hill states and North-Eastern states)
2. If you are a service provider & sales or turnover is crossing Rs. 20 lakh in a year
3. If you have an e-commerce business
4. If you are doing business in an inter-state
5. If you are required to pay tax under reverse charge
6. Non- resident person (If you live outside India, but supply goods to individuals who stay in India)
7. Individuals who pay tax under the reverse charge mechanism
8. Input service distributors and agents of a supplier
9. If you supply goods or services, and not having a permanent place of doing business, GST Registration will be compulsory because its charged on the basis of an estimated turnover of 90 days.(validity of the Registration is 90 days)
10. Outside India Online Portal

Important

If a business operates from more than one state, then a separate GST registration is required for each state. Also if business with multiple business verticals in a state have to apply for separate registration for each business vertical.

Benefits of (GST)

1. Benefit of availing seamless input tax credit
2. Removes cascading effect of taxes
3. GST provides credits for the taxes paid by producers earlier in the goods/services chain
4. GST also removes the custom duties applicable on exports
5. Elimination of multiple indirect taxes
6. Increase in GDP
7. More competitive business
8. Increase in Revenue

GST Registration Turnover Limit

GST registration can be obtained voluntarily by any person or entity irrespective of turnover. GST registration becomes mandatory if a person or entity sells goods or services beyond a certain turnover.

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. To be eligible for the Rs.40 lakhs turnover limit, the supplier must satisfy the following conditions:

• Should not be providing any services.
• The supplier should not be engaged in making intra-state (supplying goods within the same state) supplies in the States of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Telangana, Tripur and Uttarakhand.
• Should not be involved in the supply of ice cream, pan masala or tobacco.

If the above conditions are not met, the supplier of goods would be required to obtain GST registration when the turnover crosses Rs.20 lakhs and Rs.10 lakhs in special category states.

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.

If you fail to register for GST, you can incur heavy fines and penalties.

Time Duration : It takes 7-15 working days to register GST.
COSTING : Rs. 999/-

REQUIRED DOCUMENTS :

In case of Sole Proprietorship
• Proprietor Name
• Aadhar card
• PAN Card
• Address Proof
• Bank Account statement/Cancelled cheque
In case of Company
• Incorporation certificate
• Address proof of Director with Photographs (passport size)
• Aadhaar card, PAN card, Photograph of all the directors
• Bank Account statement/Cancelled cheque
• Address proof of the place of business
• Digital Signature