GST Registration
GST refers to Goods and Services Tax which subsumes all taxes such as Sales tax, Service tax, Excise duty etc. into GST. GST registration is required primarily if your annual Turnover is more than Rs. 20 Lakh. Even if your turnover is less than Rs. 20 Lakh, we suggest that you voluntarily opt for GST registration because:
- sale of goods and services outside the state
- To get Tax Refunds by way of Input Tax Credit
Benefits of GST Registration
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Following advantages will be given to a taxpayer:
- Legally recognized as supplier of goods or services.
- Taxpayer can sell outside your state
- Taxpayer is authorized to collect taxes from his customers.
- Taxpayer can claim Input Tax Credit of taxes paid to his supplier and can .
- Utilize the same for the payment of taxes due
Documents for GST Registration
- PAN Card of owner/ directors/ partners.
- Bill of Electricity/ Telephone, Rent Agreement or Letter of Consent (NOC).
- MOA/ AOA or Partnership Deed
- Letter of Authorisation for signatory.
- Bank statement/ Cancelled Cheque.
- Aadhaar Card of owners/ directors/ partners.
Who all need to get GST Registration:
GST Registration is compulsory for all business in India meeting Any of these conditions:
- . Annual Turnover exceeds 20 lacs (Rs. 10 Lakhs for North-Eastern States).
- . E-commerce sellers
- . Inter State sales( sale of goods and services outside the state)
- . Currently registered under any of the earlier indirect tax regimes (VAT, Excise Laws, Service Tax Laws) irrespective of the threshold limit.
- . Supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person.
Procedure for GST Registration
- Go to the Government GST Portal on www.gst.gov.in and look for Registration Tab.
- REG-01 of GST Registration.
- Fill PAN, Mobile No., E-mail ID and State in Part-A of Form GST
- You will receive a temporary reference number on your Mobile and via E-mail after OTP verification.
- You will then need to fill Part-B of Form GST REG-01 duly signed (by DSC or EVC) and upload the required documents specified according to the business type.
- An acknowledgment will be generated in Form GST REG-02.
- In case of any information sought from you and intimated to you in Form GST REG-03, you may need to visit the department and clarify or produce the documents within 7 working days in Form GST REG-04.
- The office may also reject your application if they find any errors. You will be informed about this in Form GST REG-05.
- Finally, a certificate of registration will be issued to you by the department after verification and approval in Form GST REG-06.