GST Registration
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GST Registration is an online process involving submission of several business details along with certain supporting documents.
GST Registration - An Overview
In order to comply with the provisions of Goods and service tax law and avail eligible benefits, businesses need to undertake registration with the GST Act 2017 and take GST Number. In order to register for GST, taxpayers need to submit certain documents, fill in requisite business related information and file the online application on GST Portal. Upon filing the necessary details, Temporary reference number allotted and the application is sent to the GST authorities for review and approval. In case the GST authorities have any questions, the application is sent back to the taxpayer seeking additional clarifications. In such case, the taxpayers need to provide appropriate responses to clarifications sought by GST authorities. If the GST authorities are satisfied with the responses/ business details provided, the application would get approved and the certificate of GST registration containing the Goods and Services Tax Identification Number (GSTIN) or GST number would be made available to the taxpayer. This entire process of filing the online application to the receipt of GST Registration certificate is covered under our GST Registration Service offering. Our GST Registration consultants will help in each step.
Benefits OF - GST Registration
Benefits of GST Registration: GST Registration is an obligation imposed by law and heanc a mandatory compliance. However, GST Registration numberhas several benefits in place for Registered taxpayers. Some of the benefits are summarised below: Availability of Input Tax Credit: Input Tax Credit (ITC’) on purchases would be available only for Registered taxpayers. By availing GST Registration, taxpayers would be able to offset the ITC against the output GST liability, thereby reducing the cascading effect of GST and optimising the value of goods/ services offered to customers. Eligibility to pass on ITC to buyers A Registered taxpayer would be able to pass on the benefit of ITC to the Buyer, thereby facilitating a seamless flow of tax credits.
Hence, the turnover of the business would have a great potential to multiply as Buyers would be willing to purchase only from registered taxpayers. Undertake Inter-state and export sales A Registered taxpayer would be able to undertake inter-state an export sales without any restrictions, thereby increasing the extent and volume of business. Contribute to nation building GST indirectly enforces buyers and sellers to undertake business transactions in a transparent manner by reporting transactions and comply with law at various stages. This process facilitates continuance of the tax chain across economic life cycle of the business. By being a Registered Taxpayer, paying taxes on time and complying with various reporting requirements, you can be proud that you are one of the contributor to nation building.
Documents Required for GST Registration
Documents required for GST Registration by Private Limited Company or Limited Liability Partnership:-
- Copy of Company/LLP PAN Card.
- Copy of Address Proof (If property is owned -Electricity Bill, Water Bill, house tax receipt, Telephone Bill otherwise rent agreement)
- Directors/Partners Details- PAN card, Adhaar card, Photo, Mobile number, Mail Id
- Copy of Cancelled Cheque.
- Copy of Board Resolution for Authorized signatory.
- Nature of business for identifying HSN Code (Goods/ services).
- Digital Signature of Authorized Signatory.
- Proof of additional place of business, if any.
- Certificate of Incorporation/ Partnership deed of LLP
Documents required for GST Registration by Partnership Firm:
- Copy of Partnership PAN Card.
- Copy of Address Proof (If property is owned -Electricity Bill, Water Bill, house tax receipt, Telephone Bill otherwise provide rent agreement).
- Partners Details- PAN card, Adhaar card, Photo, Mobile number, Mail Id.
- Copy of Cancelled Cheque.
- Authorization letter to authorize one of the partner to sign under GST.
- Nature of business for identifying HSN Code (Goods/ services).
- Proof of additional place of business, if any.
Documents required for GST Registration by Proprietor:
- Proprietor Details- PAN card, Adhaar card, Photo, Mobile number, Mail Id.
- Copy of Address Proof (If property is owned -Electricity Bill, Water Bill, house tax receipt, Telephone Bill otherwise provide rent agreement)
- Copy of Cancelled Cheque.
- Nature of business for identifying HSN Code (Goods/ services).
- Proof of additional place of business, if any.
- Trade name of business
Frequently Asked Questions
GST, or Goods and Services Tax, has been one of the biggest tax reforms this country has seen. It is a single tax with which those taxes that existed previously have been replaced. Such as Central Excise, VAT, Entry Tax, Octroi, Service Tax, etc.
GST was rolled out nationwide on July 1, 2017.
It is a destination-based tax.
And follows a dual model in which both the State and the Central government levy tax on goods and services.
All businesses are required to obtain a GST number for every state that specific business has been registered in. The first step under the GST regime is to know whether the business is liable to register and register accordingly.
1. You fill the application form given above.
2. Mail the documents as required.
3. Sit-back. All forms will be filed by us.
4. Receive your GST number on e-mail.
That depends on a few factors. Such as the type of business, package you have chosen, etc. Call +91 875 000 8585 for all queries. You can also e-mail us at contact@legalraasta.com to know more.
Each category of business require documents according to its category. However, the basic documents required in each case are: ID-proof, Address proof, business registration proof, bank details, passport sized photographs, etc.
A supplier of goods, with an annual turnover of Rs. 40 lakh (Rs. 20 lakhs for special category States), must apply for GST registration. There are certain cases where the taxable person is liable to pay GST even though his turnover has not crossed this limit.
a)A supplier whose aggregate turnover is less than the prescribed limit and is not even covered under the mandatory GST requirement list.
(b)When supplies are covered under the Reverse Charge Mechanism (RCM).
(c)Those who are supplying non-taxable goods and services under GST.
(d)Agriculturists,
(e)Services by any Court or Tribunal established under the law,
(f)Services of crematorium, funeral, burial, mortuary, including transportation of the deceased,
(g)Sale of land/building subject to Schedule 5 (ii)(b). Actionable claims, other than betting, lottery, and gambling.
A person must apply for GST registration within 30 days from the date on which he becomes liable to registration. The process, rules, and conditions of the GST application must follow the Registration Rules laid by GST Council.
Food (such as Cereals, Fruits & Vegetables, milk, etc), Raw Materials (Raw Material, Yarn, Fiber etc), Medical Tools & Instruments (Hearing Aids, or aids used by physically challenged people), Handtools {such as Spades, Shovel, Newspapers, Books, Beehives, Human Blood, Chalk Sticks, Contraceptives, Earthen Pots, Props used in Pooja (including Idols, Bindi, KumKum), Kites, Organic Manure, and Vaccines. etc.
Services related to Agriculture, Cultivation, Harvesting, etc. Transportation Services by road or bridge. Services by RBI, Foreign Diplomatic Missions, Postal Services, etc.
The following do not require registration and are allotted a UIN (Unique Identification Number) instead. They can take a refund of taxes on notified supplies of goods/services received by them:
(a)Any specialized agency of UNO (United Nations Organisation) or any other multilateral financial institution and Organization notified under the United Nations Act, 1947,
(b)Consulate or Embassy of foreign countries,
(c)Any other person as notified by the Board/Commissioner,
(d)The Central Government or State Government may notify exemption from registration to specific persons