GST Registration

Get GST Registration

What is GST?

GST is an Indirect Tax, Full form of GST is Goods and services tax. This law came in the 1st of July 2017. The Goods and Services Tax Act was promulgated by the Government of India on 29th March, 2017 But It took 3-4 months to implement, due to which it had to be implemented on 1st July 2017. In simple words, GST is the tax that is usually imposed on buying or selling goods and services. The tax charged on buying or selling an item is called "Goods Tax" like: Clothes, Fruits and Vegetables. Similarly, the tax charged on buying or selling a service is called "service tax" Like the fees paid to a doctor for getting him treated, and the fees given to him by a lawyer in exchange for fighting the case, etc.

Rate in GST

The rate is charged at different rates on the basis of goods or services, such as 0.25%, 3%, 5%, 12%, 18%, 28% percent.

Taxes Remove on Introduction of GST

With the coming of the GST Act, a lot of taxes were removed and they were clubbed inside the GST. The tax is as follows: Central Excise Duty, Duties of Excise, Additional Duties of Excise, Additional Duties of Customs, Special Additional Duty of Customs, Cess, State Vat, Central Sales Tax, Purchase Tax, Luxury Tax, Entertainment Tax, Entry Tax, Taxes on advertisements, Taxes on lotteries, betting, and gambling, Now all these taxes have been removed and only one tax has come, which we know by the name of GST. Tax is charged on every purchase and sale inside the GST, it is a value added tax. Value added tax means that tax has to be paid only on value addition at every stage.

Type of Taxes in GST

There are 4 types of taxes in GST, which are named as follows, CGST, SGST/UTGST, IGST and Compensation Cess. CGST denotes Central Goods and services Tax, SGST denotes State Goods and services Tax, UTGST denotes Union Territory Goods and services Tax, IGST denotes Integrated Goods and services Tax. CGST and SGST/UTGST Charged on the intra-state supply whereas IGST is charged on inter-state movement.

What is GSTIN?

GSTIN denotes Goods and Service Tax Identification Number. GSTIN consists of 15 alphanumeric digits. GSTIN is generated by the system on the approval of government after filing the application for GST Registration.

First 2 digit denotes state code

Next 10 digit indicates PAN Number

Next 1 reflacts serial number of gst no. in a state.

Next 1 shows default alphabet

Last digit is random No.

What are Documents Required for GST Registration?

Documents Required for New Registration Application of a Normal Taxpayer

Please select Business Constitution

What is Composition Scheme GST Registration?

Composition Scheme is that scheme, In which any resident person has to pay tax at fixed rate based on his previous year's turnover. Due to the tax rate fix in the composition scheme, there is no need to fill the returns again and again that is monthly, but once in three months (quarterly) there is a need to fill the returns.

Process of GST Registration?

Documents

Provide all the required documents to our consultant

Payment

Make the payment in our Bank Account

Click Here to know our Bank Account Details

Filing With Government

Our Consultant prepare and file form and documents with GST Department.

GST Registration Processing

Application is pending with GST Departnment for approval

GST Certificate

GST Application Approved, Please check your mail to download the GST Certificate

WHEN IS NEW GST REGISTRATION COMPULSORY?

GST Registration is compulsory for the person who falls in the category as specified in the act. Person who crosses their limit of turnover as specified in the GST Provision is compulsory required to register himself in GST or covered under reverse charge list. Full detail of person who are required to compulsory register under GST are as follows:

1. Person who are making any inter-state supply. Eg. Person in delhi sells goods to person who is situated in bihar, it is case of inter-state supply. In this two states are involved.

2. Casual taxable Person: ―casual taxable person means a person who occasionally undertakes transactions involving supply of goods or services or both in the course or furtherance of business, whether as principal, agent or in any other capacity, in a State or a Union territory where he has no fixed place of business;

3. Persons covered under Reverse Charge Mechanism

4. non-resident taxable persons making taxable supply

5. persons who are required to deduct tax under section 51

6. persons who make taxable supply of goods or services or both on behalf of other taxable persons whether as an agent or otherwise

7. Input Service Distributor

8. Individuals involving in e-commerce or supply goods through e-commerce platforms

9. every electronic commerce operator who is required to collect tax at source under section 52

10. If a person wants to raise a tax invoice for its customers and pass on the credit to them.

COMMON DOCUMENTS REQUIRED FOR GST REGISTRATION

The documents needed to be based on the type of business you are operating. Below documents are necessary for GST Registration: -

• Permanent Account Number (PAN) of the individual or business entity

• Passport Size Photograph of authorized signatory & owner

• Aadhar card of authorized signatory & owner

• Address proof of business premises

• Electricity bill of premises

• Consent letter or Rent agreement of premises

TYPES OF GST REGISTRATION

There is different type of GST Registration in GST. Registration will be done on the basis of requirement of the person or business entity. Different type of GST registration are as follows:

Normal Taxpayer: Generally this type of category is applicable while applying for GST Registration as it covers almost all businesses in India.

Casual Taxable Person: Any person or business entity whose business is seasonal can choose this type of registration; person is required to apply for registration atleast three days before starting the business. Validity of GST Registration is 3 months in this type of Registration.

Composition Taxpayer: Any person or business entity wants to do minimum compliances and want a simple system to deposit tax and return, opt for this type of registration. A flat rate is applicable on all type of goods but there is some restriction attached in this particular type of Registration.

Non-Resident Taxable Person: The Goods and Services Tax Law has defined a ‘non-resident taxable person’ as any person who occasionally undertakes transactions involving the supply of goods or services, or both, whether as principal or agent or in any other capacity, but who has no fixed place of business or residence in India.

In a simple word we can say that any person who’s business transaction like purchase of good or sale of goods or any other service transaction provided in India but who’s person or any other capacity has not permanent place of business or who’s not residence in India.

Every person or business man who falls under this definition and if he wants to registered his business in GST Portal so he registered his business at least five days before commencing his business.

 

Voluntarily GST Registration

Every  business man who’s sales receipt is more than 20 lacs in case of service provider he  need  to registered his business  in GST Portal and taking GST number.

And If  goods supplier total turnover is 40 lacs then he need to registered his business in GST portal and taking GST number.

If business having intra state supply of goods and his aggregate turnover in financial year does not exceed 40 lacs then businessman not required to take GST registration

If business having intra state supply of services and his aggregate turnover in financial year does not exceed with 20 lacs then business man not required to take GST registration.

If business having  Inter state supply of services only  (not goods) and his aggregate turnover in financial year does not exceed 20 lacs then not required to take GST registration

 

Turnover comprises the aggregate value of all taxable supplies + inter-state supplies + exempt supplies + export of goods or services or both + It includes supplies made by a person on behalf of his principals (excludes the value of job-worked goods if he is a job-worker) Aggregate turnover can be computed by counting all the supplies made by a business having the same PAN number based on all India.

Multiple GST Registration Numbers Possible?

A business man requires to obtain multiple GST numbers when he supplies goods and services from various states and his business run in many states then he compulsory to registered to take multiple GST numbers from different states where he runs their business.

A businessman can take separate registration for his two different types of business in the same state. 

For Example: if ABC is engaged in selling clothes and also involved in providing services of repair then ABC can apply for two different registrations in the same state.

GST REGISTRATION WHEN OPERATING IN MULTIPLE STATES

When a businessman operating his business in many states then he is compulsorily required to register his all firms under GST.

In that case, each such place deemed to be a different person in GST, that is if the businessman has the two separate registration with the same name one in Delhi and one in Mumbai, and goods are transferred from the Delhi branch to the Mumbai branch then he is required to charge the GST on this transaction and pay the same to the government as if he sells goods to some other person.

Penalty for not registering Under GST

Any person who fails to get register his business under GST if he is so liable to register then among other penalties or responsibility of the person, the government will penalize him with 10% of the tax amount payable or Rs.10,000 whichever is higher.