Goods And Services Tax (GST) Registration
There are various types of GST registration and some types of entities like casual taxable persons, non-resident taxable persons or persons supplying through eCommerce 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. 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, Tripura 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.
File your GST registration application online through us. Get help with GST registration procedure, eligibility and documents required.
It usually takes 3 to 5 working days.
- Session with TAXAJ Expert
- Filing of Application for Registration
- Follow up till you secure GST Identification Number
- Any business having a turnover of Rs. 20 Lakhs or more in a financial year
- Any business having a turnover of Rs. 10 lakhs or more in a financial year (For North Eastern States)
- Non-resident taxable person operating his or her business in India
- Vendors selling online through e-commerce platforms
- Purchase of Plan
- Expert Assigned
- Upload documents on vault
- Registration Form Submission on GST portal
- ARN Number Generated which can be used temporarily to issue invoices
- GSTIN Received (3-5 working days subject to Govt. approval)
Name, Contact Number and Email Id of Stakeholder.
Self Attested PAN, Aadhar & Passport size photo of Stakeholder.
Specimen Signatures of Stakeholder.
Latest Electricity Bill/Landline Bill of Registered Office.
NOC from owner of registered office. (If Owned)
Rent Agreement from Landlord. (If Rented/Leased)
Brief description of main business activities of the proposed Company.
Cancelled Cheque in business name (After GST Approval)
Everything you need to know for Registering your business under GST
Must watch if you plan to take a GST Registration!
Post Incorporation Compliances for Proprietorship Firm
Apply for GST Registration Now
Goods & Service Tax Registration - Overview
Launched on July 1 2017, the Goods & Services Tax (GST) applies to all Indian service providers (including freelancers), traders and manufacturers. A variety of Central taxes like Service Tax, Excise Duty, CST and state taxes like Entertainment Tax, Luxury Tax, Octroi, VAT are absorbed in one tax – GST, implemented on 01.07.2017. GST is to be charged at every step of the supply chain, with full set-off benefits available. The procedure for GST is entirely online and requires no manual intervention.
Every product goes through multiple stages along the supply chain, which includes the purchasing of raw materials, manufacturing, sale to the wholesaler, selling to the retailer and then the final sale to the consumer. Interestingly, GST will be levied on all of these 3 stages. Let’s say if a product is produced in West Bengal but is being consumed in Uttar Pradesh, the entire revenue will go to Uttar Pradesh.
Also, taxpayers with a turnover of less than Rs.1.5 crore can choose composition scheme to get rid of tedious GST formalities and pay GST at a fixed rate of turnover.
What are the components of GST?
What are the components of GST?
GST will have 3 tax components, which includes a central component (Central Goods and Services Tax or CGST) and a state component (State Goods and Services Tax or SGST) where center and state will levy GST on all entities, i.e. when a transaction happens within a state. Inter-state transactions will attract the Integrated Goods and Services Tax (IGST), to be levied by the center, i.e. when a transaction happens one state to another.
What is the input tax credit?
What is the input tax credit?
Input tax credit lets you reduce your tax you have already paid on inputs and pay the remaining amount at the time of paying tax.
You pay taxes on the purchase when a product is purchased from a registered seller, and when you sell the product, you too collect the tax. With input credit, you can adjust the taxes paid at the time of purchase with the amount of tax on sales (output tax) and pay the balance liability of tax, i.e. tax on sale minus tax on the purchase.
Who needs a GST Registration?
Who needs a GST Registration?
Every business or corporation that are involved in the buying and selling and good of services have to register for GST. It is mandatory for companies whose turnover is more than Rs.20 lakhs (for supply of services) and Rs. 40 lakhs ( for supply of goods) yearly to register for a GST.
All businesses making interstate outward supplies of goods have to register for a GST too. The same applies to businesses making taxable supplies on behalf of other taxable persons, example Agents and Brokers.
Also, as per the recent notification, e-commerce sellers/aggregators need not register if total sales are less than Rs.20 lakhs.
What are the GST tax rates?
What are the GST tax rates?
- Items that are considered basic necessities come under exempt list i.e. they are not taxed.
- Household necessities and life-saving drugs etc. are taxed at 5%.
- Products like computers and processed food are taxed at 12%.
- Hair oil, toothpaste and soaps, capital goods, industrial intermediaries and services are taxed at 18%.
- Luxury items are taxed at 28%.
You can see the tax rates for all the products here: https://cbec-gst.gov.in/gst-goods-services-rates.html
What are the different types of GST Registration?
For the filing of GST, transactions need to be classified depending on the type of customer to whom the sale is done. Following are the two different types of GST registration:
Registration Under Composition Scheme:
Registration Under Composition Scheme:
The Composition Scheme is for the small taxpayers in order to ease the tax compliance for them. This scheme allows eligible taxpayers to pay a percentage of their yearly revenue as a tax. Like small retailers, eateries and trading businesses. This will relieve the taxpayers/ businesses from collecting taxes from their customers directly and adds benefits as mentioned below:
- File Single Quarterly return, not multiple monthly returns.
- Pay Lower Tax which gives competitive advantage
- Books of Accounts and Records are easy to maintain under GST norms.
In short, this is a customer who has a business which is registered under the composition scheme of GST and has a GSTIN.
Following is the eligibility criteria to register under GST Composition Scheme :
- Must be a Registered Taxpayer
- Annual Turnover should be less than Rs 1 Crore
- Manufacturers of Goods, Dealers, and Restaurants (Not Serving Alcohol) can opt for this scheme.
Registration As a Casual Taxable Person:
Registration As a Casual Taxable Person:
Casual Taxable Person is a person who supplies taxable goods or services occasionally like a event management company which has various events in different states needs to register as a Casual Taxable Person for that particular taxable state before supplying or offering any goods or services.
Suppose Mr. 'A' has a business of consulting and who provide services in different states, then he needs to register as a Casual Taxable Person so that his business is compliant with the tax norms of that particular state.
GST Portal
The GST portal is a great resource for businesses and individuals who are looking to understand and comply with the GST. The portal provides a range of information and resources that can help you to understand the GST and its implications for your business. The GST portal is a valuable tool for businesses and individuals who are looking to understand and comply with the GST.
GST Search
Are you looking for information on the GST search? If so, you've come to the right place. In this blog post, we'll provide an overview of what the GST search is and how it can be used to help you find information on the internet. The GST search is a powerful tool that can be used to find information on the internet. It is based on the Google search engine and provides results from all over the internet. The GST search can be used to find information on any topic, including businesses, products, services, people, and places. You can also use it to find information on specific topics, such as businesses in a specific location or products in a specific category. To use the GST search, simply enter your search query into the search box on the GST website. You can then use the results to find the information you are looking for. If you are looking for specific information on a topic, you can use the GST search to find it. For example, if you are looking for information on businesses in a specific location, you can enter the location into the search box. The GST search is a powerful tool that can help you find information on the internet. If you are looking for information on any topic, you can use it to find what you are looking for.
Checking of GST Number
If you don't have a PAN number, you can still check your GST number by visiting the GST portal. However, you'll need to click on the 'Search by name' link. This will take you to a page where you can enter your business name. Once you've entered your business name, you should be able to see your GST number. Once you have your GST number, you can begin the process of registering your business. This is a simple process that can be done online. After you've registered your business, you'll be able to start collecting GST from your customers.
GST Online Verification
The GST online verification process is a simple and convenient way to ensure that your GST returns are filed correctly. By following a few simple steps, you can ensure that your GST returns are filed accurately and on time. First, you will need to create an account with the GST online portal. Once you have created an account, you will be able to login and access the GST online return filing system. Once you have logged in, you will be able to see the status of your GST return. If you have any outstanding GST returns, you will be able to view them and file them online. You will also be able to view any payments that you have made towards your GST liability. This information will help you to keep track of your GST payments and ensure that you are up to date with your GST obligations. The GST online verification process is a simple and convenient way to ensure that your GST returns are filed correctly. By following a few simple steps, you can ensure that your GST returns are filed accurately and on time.
Goods & Service Tax ARN Status
The Goods and Services Tax (GST) is a tax on the supply of goods and services in India. It is levied on all taxable supplies of goods and services in India. GST is also imposed on the import of goods and services into India. The ARN Status is the most important part of the GST. It is a 12-digit number assigned by the GST authorities to every registered business. The first 2 digits of the ARN represent the state in which the business is registered, the next 10 digits represent the registration number of the business. The main purpose of the ARN is to help the GST authorities keep track of businesses registered for GST. It is also used to help businesses identify their correct GST rates. If you are a business owner, you should make sure that your business has a valid ARN. You can check the GST website to find out more information about the GST and how to register your business for GST.
Registration Process of GST
The registration process of GST can be quite confusing for those who are not familiar with it. Here is a quick guide to help you understand the process better. First, you will need to gather all the required documents. These include your identity proof, business proof, and bank details. Once you have all the documents, you can proceed with the registration process. The next step is to log on to the GST website and fill out the online application form. Make sure that all the details provided are accurate and complete. Once the form is submitted, you will receive a confirmation email with your login details. Now, you will need to login to your account and complete the registration process. This includes providing additional details about your business and choosing the appropriate GST scheme. After the registration is complete, you will receive your GST registration number. That’s it! You have now successfully registered for GST.
Preparation of GST Application
Preparation of GST Application
One of our GST representatives will collect all the required documents and process the GST application through the iCFO platform.
Application Filing
Once all the documents are collected, the application will be processed and filed. Then immediately the ARN number will be issued.
GST Registration Certificate
The GST registration certificate and GSTIN will be issued upon verification of GST application and other mandatory documents by the GST officer. Be aware that no hard copies of the certificate will be issued and the GST registration certificate can be downloaded from the GST Portal.
Penalties For Failure To GST Registration
As per the Section 122 of the CGST act, in India, there is a direct penalty for all those taxable persons who fail to register for GST.
Voluntary Registration Under GST (for Companies With A Turnover Below Rs.20 Lakhs)
Any small business with turnover less than 20 lakh can voluntarily register for GST even though it is not compulsory by law. Voluntary GST registration has its own advantages and some of them are:
- Take input credit: In GST, there is a flow of input credit right from manufacturers of the goods till the consumers, across the country. Input credit means a taxpayer while paying tax on output can deduct the tax that has already been paid on inputs and pay only the remaining amount. Voluntarily registered businesses can increase their margins and profits through this.
- Do inter-state selling with no restrictions: SMEs can increase the scope of their businesses and find prospective customers and explore online platforms
- Register on e-commerce websites: SMEs can widen their market by registering through e-commerce sites.
- Have a competitive advantage compared to other businesses.
Q. What is GST & GSTIN?
Goods and Services Tax(GST) is a comprehensive tax levied on manufacture, trade and services across India. From 1st July, 2017 GST has replaced most of Centre and State imposed indirect taxes like VAT, Service Tax , Excise etc. Goods and Services Tax Identification Number (GSTIN) is a 15 digits state-wise PAN-based number to be used to identify businesses registered under GST.
Q. Who is an existing Taxpayer?
An existing taxpayer is an entity currently registered under any State or Central laws, like Value Added Tax Act, Central Excise Act and Service Tax Act. Existing taxpayers include taxpayers already registered under :-
» Central Excise
» Service Tax
» State Sales Tax or VAT (except exclusive liquor dealers if registered under VAT)
» Entry Tax
» Luxury Tax
» Entertainment Tax (except levied by the local bodies)
Q. Who is a non resident Taxable person under GST?
When you occasionally make supply of goods/services as a principal or agent or any other capacity, in a taxable territory, where GST applies but you don’t have a fixed place of business in India. As per GST you will be treated as a non-resident taxable person. Key pointers:
» Registration shall be valid for 90 days.
» It can be further extended by 90 days.
» An advance deposit of tax liability for the period of registration must be made. Additional tax must be deposited if extension of registration is sought.
» This tax deposited shall be used like ‘input credit’.
PAN is mandatory to apply for GST registration (except for non-resident person who can get GST registration on the basis of other documents)
Yes, GST is applicable from 1st April, 2017. The following time limit has to be observed:
👉 Already registered dealer will get automatic PAN based registration number without fresh application. A Provisional ID will be generated which needs to be replaced with Final Taxpayer Identification Number (GSTIN)r on completion of formalities.
👉 New dealers crossing the specified threshold limit need to get registered within 30 days from crossing of such limit.
Electronically signing the Registration Application using DSC is mandatory for enrollment by Companies, Foreign Companies, Limited Liability Partnership (LLPs) and Foreign Limited Liability Partnership (FLLPs). For other taxpayers, electronically signing using DSC is optional. You may purchase our DSC package from here before proceeding in case you do not have a DSC
Yes, if place of business are in two different states you need to apply for separate registration even if business PAN is same.
Q. I am vendor selling through an e-commerce portal. Do I need opt for GST registration?
GST registration is mandatory for all businesses selling their product or rendering services through e-commerce operators like Amazon, Flipkart, Ola etc
Tax credit for pre-GST laws like VAT, Excise etc can be carried forwarded by filing transition forms Tran 1 & Tran 2.
Q. Does GST apply to my business?
GST regulations are applicable if your annual turnover is Rs. 20 lakh or above. In case of North Eastern states (Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura) and hilly regions i.e. Himachal Pradesh, Uttarakhand, Jammu & Kashmir and Sikkim, the threshold limit is Rs. 10 lakh. The registration is mandatory on crossing the limit of Rs.19,00,000 in previous financial year( for special category states it is Rs. 9,00,000).
Note: If you are selling your goods through online platforms like amazon, Flipkart etc, GST registration is mandatory.
Businesses in the Northeastern and hill states with annual turnover below Rs.10 lakh have been kept out of the GST net. Since your turnover is not exceeding the limit of Rs. 10 lakh, GST registration is not mandatory for you. In following cases registration is mandatory even if turnover limit has not been crossed:
→ For claiming input of the tax paid on purchase from supplier
→ If your supplier is registered under GST and wants to claim the credit of his purchase, he can do so only if you are able to issue a GST invoice, thus GST registration becomes mandatory in the case
If you are an existing taxpayer you will be transitioned to GST which simply means that now you will be considered as registered under GST. Initially, a provisional registration ID will be allotted which will be replaced by Final Registration ID on fulfilment of government conditions.
Yes, the entities with an annual turnover of Rs 75 lakh and less can avoid collecting GST by opting for the Composition Levy.
Under the GST law, a normal taxpayer will be required to furnish three returns monthly and one annual return. Similarly, there are separate returns for a taxpayer registered under the composition scheme and a taxpayer registered as an Input Service Distributor.
This package is valid only if you have all the necessary documents mentioned in the “Documents to be Submitted” . If your company is not registered please have it registered with us first and then GST registration will be pursued.
For now rectification in GST registration is not possible. Once enabled, you will be able to add other business located in same state as additional place to business. We will advise you to wait till the government announces that rectification in original registration can be made. If you need GST registration for your new location urgently, you can apply for a fresh registration for that branch.
Yes, if place of business are in two different states you need to apply for separate registration even if business PAN is same.
Every registered person under GST needs to file GST returns for the period starting from the time he got registered or the date when GST got implemented(i.e 1st July)[WHICHEVER IS LATER] . If your business is registered in GST in August, you need to file return for period starting from 1st August, 2017.
