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GST Registration

Registration of any business entity under the GST Law implies obtaining a unique number from the concerned tax authorities for the purpose of collecting tax on behalf of the government and to avail Input tax credit for the taxes on his inward supplies.

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GST REGISTRATION

As per the GST rules, every business/entity that is involved in the buying and selling of goods/services have to register for GST. It is mandatory to get registered under GST if the turnover exceeds the threshold limit of Rs 40 lakhs for trading and manufacturing or 20 lakhs for service industry (Rs 10 lakhs for special category states - Arunachal Pradesh, Assam, Jammu & Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh, and Uttarakhand). Further, if anyone wants to get registered voluntarily even if the turnover is less than the threshold, they can always choose to do so.

HOW WE WORK

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ADVANTAGES

LEGAL RECOGNITION

By registering to GST, you will be legally recognized as a supplier of goods/services & would get authorization to collect tax from customers and pass on the credit of the taxes paid on the goods/services that is provided to the recipients.

ELIMINATES CASCADING EFFECT

GST has eliminated the cascading effect of tax that was earlier noticeable and put an end to the tax-on-tax impact on goods and services.

TRANSFER OF INPUT TAX CREDIT

Registered person can pass on the credit of the taxes paid on the supply of the goods & services to the purchaser.

COMPETITIVE ADVANTAGE

Registered businesses/individuals will have competitive advantage in comparison to those who are not registered.

LESS COMPLIANCE

Pre-GST tax regime was a time where we saw a tiresome burden of compliances on businesses as they had to file various returns accorded with taxes like VAT, Excise, and Service Taxes. GST being a unified & singular tax regime has lowered the number of filings thus providing much needed relief to business. By merging all the indirect taxes under its ambit, GST has managed to bring down the cost of goods and services.

EASE IN GETTING BANK LOANS

GST registration and filing acts as proof of business activity and creates a track record for a business. Banks and NBFCs lend to businesses based on this data. Hence, GST registration can help you in formalizing your business and get credit.

BENEFIT OF COMPOSITION SCHEME

The GST Composition Scheme has been introduced to provide relief to the small businessmen (having turnover of less than 1 Cr) in the tax system and to ease their difficulties. By opting for the composition scheme, the businesses will be taxed at a fixed rate, also having the advantage of lump sum tax payment and only one return in 3 months.

WHAT WE OFFER

GST REGISTRATION

1500

PLUS TAXES(18%)

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  • GST REGISTRATION CERTIFICATE

  • E-WAY BILL PORTAL REGISTRATION

  • GST INVOICING FORMATS

  • 3 MONTHS RETURN FILING

  • CURRENT ACCOUNT OPENING SUPPORT

  • SUPPORT REGARDING GST RATES/HSN

  • DEDICATED GST & E-WAY BILL EXPERT FOR FIRST 3 MONTHS

  • ₹ 1500/- PLUS GST

What is GSTIN

GST Identification Number or GSTIN is a 15 digit number which is assigned to every GST registered person. It has replaced the earlier Tax Identification number which was allocated to businesses by state tax authorities for registering under the VAT system. GSTIN is a State Specific code therefore you have to take separate state wise registration for business branches in different states.

The format of GSTIN is as follows:

  • ➙ The first two digits represents the unique code of the specific state.
  • ➙ Next ten digits (3-12th) is the PAN number of the taxpayer.
  • ➙ The 13th digit will be assigned based on the number of registration within a state.
  • ➙ The 14th digit will be “Z” by default
  • ➙ The 15th digit may be an alphabet or a number which will be used as a check code.

Compulsory Registration

GST registration is mandatory for all individuals/entity given below -

  • ➙ All Entities/Casual Taxable persons making Interstate Taxable supply and whose turnover exceeds Rs 40 lakhs (for trading and manufacturing) or 20 lakhs for service (Rs 10 lakhs for special category states)
  • ➙ Input Service Distributor (ISD)
  • ➙ Non-Resident Taxable persons making Taxable supply.
  • ➙ E-commerce aggregators
  • ➙ Supplier of OIDAR (Online Information and Database Access or Retrieval) services from outside India to a person in India, other than a registered taxable person.
  • ➙ Agents of a supplier making supply on behalf of a taxable person.
  • ➙ Persons required to pay tax under Reverse Charge scheme.
  • ➙ TDS Deductor.

Exemptions under GST

The following people/entities are exempted from getting GST registration:

  • ➙ Agriculturalists for the supply of crops produced from the cultivation of land.
  • ➙ Activities that do not come under the supply of goods or services. (Examples - sale of a building or land, and services provided by an employee.)
  • ➙ Businesses that make non-GST/ non-taxable supplies. (Examples - aviation turbine fuel, electricity, natural gas, high-speed diesel, and petrol.)
  • ➙ Businesses that make exempt/ nil-rated supplies.
  • ➙ Businesses that do not fall under the threshold exemption limit.
  • ➙ Other Businesses that do not fall under the mandatory registration bucket.

Types of GST Registration

The GST Act prescribes various types of registration under its ambit. The main ones are discussed briefly below -

Normal Taxpayer: This category holds most of the businesses of India. There is no necessity of putting down any money as deposits for Normal Taxpayers. There is also no expiration date of registration under this category.
Casual Taxable Individual : Individuals who wish to set up an occasional/seasonal shop can opt for this category. For instance, say Mr X has a place of business in Delhi and supplies taxable consulting services in Patna where he has no place of business . He would be treated as a casual taxable person in Patna.
In this case, you have to deposit an advance sum of money that is expected to be equal to your GST liability during the operational time-period of the seasonal shop or business. The registration under this category is active for 3 months which can be renewed.
Composition Taxpayer: In the GST composition scheme, businesses/individuals have to deposit a fixed yearly payment irrespective of their actual earnings.Small taxpayers can get rid of tiesome formalities and pay GST at a fixed rate of turnover. Entities having a yearly turnover of up to Rs. 1 Cr are eligible to get registered as composition taxpayers. It is also imperative to note that they will not be able to claim Input Tax credit under this category.
Non-Resident Taxable Individual: People who reside outside India, but supply goods to individuals who stay in India, can opt for this type of GST Registration. As per the GST rules, when a non-resident occasionally supplies goods/services in a GST applied region and does not have a fixed place of business, he will be treated as a non-resident taxable person. It is similar to a casual taxable individual, just that in this case the non-resident has no place of business in India.
You have to deposit a sum equal to the expected GST liability during the operational time-period of registration. Usually, the normal tenure of registration is 3 months, but can be extended or renewed by the taxpayer.

Penalty for NOT Obtaining
GST Registration.

If an eligible individual/business carries on business without registering to GST and paying taxes, it will be considered an offense under GST and penalties will be applied. In case the reason is genuine or unintended, the individual/entity is liable to pay 10% of the total tax amount. But this is applicable only if the burden of total tax is Rs. 1 Lakh or more. In other cases where this seems intentional, the individual/entity is liable to pay the whole due amount as penalty.

There could be other bad consequences arising which include raising a question of your trustworthiness in front of authorities in future, attracting frequent checks, or any other unwanted issues. That’s why it is always advisable to adhere to the GST rules.

Documents Required for

GST Registration

Nature
Mandatory documents required
For Sole proprietors or Individuals
  • ● PAN & Aadhar card of the owner
  • ● Photographs
  • ● Bank account details
  • ● Address proof
For LLPs and Partnership Firms
  • ● PAN card of all partners
  • ● Copy of partnership deed. In the case of LLP, registration certificate / Board resolution of LLP
  • ● Photograph of all partners and authorized signatories
  • ● Address proof of partners (any from Passport, driving license, Voters identity card, Aadhar card etc.)
  • ● Authorized signatory’s aadhar card
  • ● Proof of appointment of authorized signatory
  • ● Bank account details
  • ● Business Address proof
For HUFs (Hindu Undivided Family)
  • ● PAN card and Aadhar card of HUF’
  • ● Photograph
  • ● Bank account details
  • ● Address proof of place of business
For Companies (Both Public & Private)
  • ● Company’s PAN
  • ● Certificate of incorporation
  • ● Memorandum of Association (MoA) / Articles of Association (AoA)
  • ● PAN card and Aadhar card of authorized signatory.
  • ● PAN card, Address proof and photographs of all directors of the Company
  • ● Board resolution appointing authorized signatory / Any other proof of appointment of authorized signatory
  • ● Bank account details
  • ● Business Address proof

Components of GST

Under GST regime, there are 4 components namely :

- Integrated Goods and Services Tax (IGST)
- State Goods and Services Tax (SGST)
- Central Goods and Services Tax (CGST)
- Union Territory Goods and Services Tax (UTGST)

Under the GST law, the government will collect CGST, SGST or IGST depending upon whether the transaction is intrastate or interstate. These are briefly discussed below -

Central Goods and Services Tax (CGST)

CGST is charged on the intrastate supply of goods and services by the central government .
It is collected along with SGST at the same rate. Both the Central and State Government collect the taxes and combine their levies with an appropriation proportion between them. Further, the GST rules also says that the taxes which are imposed on the intra supplies of goods and services shall not be more than 14% each.

State Goods and Services Tax (SGST)

As we discussed above, SGST will be applicable at the same rate and along with CGST on every taxable intra-state supply, but CGST will be controlled by the Central Government. SGST on the other hand is collected by the State Government and is governed by the SGST Act. Any tax liability under SGST then can be set off in opposition to SGST or IGST ITC only.

Union Territory Goods and Services Tax (UTGST)

UTGST is very similar to SGST which is applicable on the supply of goods/services in the Union Territories like Andaman and Nicobar Islands, Chandigarh, Daman Diu, Dadra, and Nagar Haveli, and Lakshadweep.
The UTGST is governed by the UTGST Act and the revenue earned is collected by the Union Territory government. The UTGST is a replacement for the SGST in Union Territories, but the concept of CGST will be the same.
For Instance, a dealer in Jharkhand is selling goods or providing some service to the consumer in the same state worth Rs. 40,000. The GST rate, let's say is 12% consisting of 6% CGST and 6% SGST, in such cases the dealer collects Rs. 4800 from which Rs. 2,400 will go to the central government and Rs. 2,400 will go to the State government.

Integrated Goods and Services Tax (IGST)

IGST is applicable on all inter-state supplies of goods and services. It is also applicable on the imports and exports of goods and services, and on supplying activities related to Special Economic Zones. In the case of interstate tax collection, instead of separately charging taxes for the Center and the State, the Government collects a single IGST, which is divided later
For Instance, if the dealer in Jaipur sold goods to a dealer in Patna worth Rs. 1,00,000. GST rate, let’s say be 12%, then in such cases the dealer has to charge Rs. 12,000 as IGST.

What is GST Return

GST Return is a form that shall be filed by every registered taxable person. Furnishing GST Returns timely helps the GST authorities carry out taxpayer’s assessment. Also, business owners need to maintain records systematically to further simplify the GST return filing process.

A business or the taxpayer while online GST return filing requires details of the following for a specified period of time -

- The total sales
- The total purchases
- The output GST or the GST paid by the customers

It is crucial for every business, irrespective of the business structure, to adhere to the statutory compliance and complete all the necessary filings before the due dates..There are quite a few types of GST filing which have their specific forms and each form has a different purpose and due date.Taxpayers also need to ensure that they don’t need to file all forms but only those that are applicable to them.

Return Form Description Frequency Due Date
GSTR-1 Statement of Outward Supplies made Monthly

Quarterly (If opted under the QRMP scheme)
11th of the next month

13th of the month succeeding the quarter
GSTR-2 (suspended) Statement of inward supplies made Monthly ---
GSTR-2A Read only documents for the recipients, to verify the details uploaded by the seller in GSTR 1 Monthly 15th of the next month
GSTR 3 (suspended) Auto populated document based on the details found in GSTR 1, GSTR 2 and tax liability of any preceeding period --- ---
GSTR-3B Inward and Outward supply summary Monthly

Quarterly
20th of the next month from the month of January 2021 onwards

22nd or 24th of the month next to the quarter
GSTR-4 Quarterly return for composition traders. Annually 30th of the month succeeding a financial year.
GSTR-5 Monthly return for Non-Resident taxable people. Annually 20th of the next month
GSTR-6 Monthly return for Input Tax Distributor Annually 13th of the next month
GSTR-7 Monthly Return for Tax Deductor. Annually 10th of next month
GSTR-8 Monthly return for E-Commerce Operators. Annually 10th of next month
GSTR-9 Annual GST Return Annually 31st December of next financial year.
GSTR-9A (suspended) Annual Return for Composition Scheme taxpayer Annually until FY 2017-18 and FY 2018-19 ---
GSTR-9B To be filed by E-Commerce operator Annually 31st December following the financial year end.
GSTR-9C Reconciliation Statement Annually 31st December following the financial year end.
GSTR-10 Final GST return Once, when GST registration is canceled or surrendered. Within 3 months of the date of cancellation or date of cancellation order, whichever is later.
GSTR-11 GST Return for UID holders Monthly 28th of the next month in which the inward supplies are received.
CMP 08 --- --- 18th of the month succeeding the quarter.

FREQUENTLY ASKED QUESTIONS

Registration under Goods and Services Tax (GST) regime will confer the following advantages to a business:

1. Legally recognized as supplier of goods or services. Proper accounting of taxes paid on the input goods or services which can be utilized for payment of GST due on supply of goods and/or services by the business.
Pass on the credit of the taxes paid on the goods and/or services supplied to purchasers or recipients.

2. Authorization to a taxpayer to collect tax on behalf of the Government.

A Supplier can voluntarily opt for GST Registration even when he is not liable to get registered under GST as per the GST law. Such a Registration is called voluntary Registration.

The supplier can make interstate sales without any restriction.
The supplier can take ITC (input tax credit) on the purchases made.
The supplier can provide ITC (input tax credit) to the customers.
Only a registered supplier is allowed to register himself as an E-commerce Operator.
The supplier can have access to larger market. An unregistered supplier is not allowed to make interstate sales.

Once you are registered under GST, it is valid for life time. GST registration never expires therefore there is no need to renew it.
Aggregate Turnover = Taxable supplies + Exempt supplies+ Exports+ Interstate supplies
YES! You can cancel your GST Registration if you don't require it anymore except if you have registered under GST on voluntarily basis, in that case no cancellation is allowed until expiry of 1 year from the date of registration.
Any person/entity (liable to register under GST) not registered under GST is liable to pay penalty of 100% of the Tax amount.
Yes, a person can have multiple registrations in a state/union if he is having Multiple Business Verticals in a state/union.
Service providers having turnover of Rs 20 lakhs or more and Supplier of goods having turnover of Rs 40 lakhs or more are required to get registered under GST.
(Turnover limit is 10 lakhs if business is in in Assam, Himachal Pradesh, Uttarakhand, Arunachal Pradesh, Manipur, Mizoram, Sikkim, and Nagaland)
GSTIN is State Specific therefore you have to take separate state wise registration for branches in different states.

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