Ask 4 Compliance | GST Registration
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GST REGISTRATION

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GST REGISTRATION

GST is the biggest tax reform in India, tremendously improving ease of doing business and increasing the taxpayer base in India by bringing in millions of small businesses in India. By abolishing and subsuming multiple taxes into a single system, tax complexities would be reduced while tax base is increased substantially. Under the new GST regime, all entities involved in buying or selling goods or providing services or both are required to obtain GST registration. Entities without GST registration would not be allowed to collect GST from a customer or claim input tax credit of GST paid or could be penalised. Further, GST registration is mandatory once an entity crosses the minimum threshold turnover of starts a new business that is expected to cross the prescribed turnover.

Our team of highly qualified professionals at Ask4compliance.com can help your business obtain GST Registration to avail a host of benefits.

Process & Timeline

4-6 days

Professional Fees

Rs. 3500

(GST, Government Fees and other Out of Pocket Expenses Extra)

Pay Now!

Who needs to get registered?

The general rule of GST states that everyone who has an annual turnover of Rs. 20 Lacs or more will fall under the GST slab and have to register themselves under GST. However, in North East States, Uttarakhand and Himachal Pradesh, the business having turnover more than Rs. 10 Lacs has to register under GST.

 

Apart from this, the following category people irrespective of their business turnover need to register under GST:

  • Business dealing in interstate taxable supply.
  • A person who received supplies for which the tax is paid by the recipient on the reverse charge basis.
  • If you are a casual taxable person and you place of business is not fixed (state or union territory) from where he wants to make the supply.
  • A person who is non-resident and does not have a fixed place of business in India.
  • An agent or principal, who supplies on behalf of a taxable person or e-commerce operator which provides a platform to the supplier to make supply through that platform.
  • A Supplier who supplies through an e-commerce operator. These e-commerce operators are liable for GST payment as per Section 9(5)TDS deductor.
  • People who are involved in business dealing in supply of database or online information or retrieval services from abroad to the non-registered person in India.

The Rs. 20 Lacs limit is for those suppliers who supply within state suppliers who supply to other state have to register under GST.

Find GST Rate, HSN Code & SAC Code

ADVANTAGES OF GST

  • Ease of Doing Business: Goods and Services will be taxed with both CGST and SGST with exceptions like Petroleum and Alcohol for personal consumption. In case of interstate trade of goods and services, IGST will be levied. Under Article 269A, IGST will be collected by Central and distributed with the State and this will lead to a seamless national market with less compliance. Zero Rated Exports and free movement of goods and services will help the businesses especially retail and trade. ​
  • Easing Business Dealing: Many business organisations are unwilling to do business with those that aren’t GST registered. You might find that without the ability to produce a proper GST invoice many of these people will be unwilling to deal with you. The advantage of voluntary GST registration is you will be issue a invoice with a GST registration number.​
  • Removing Cascading Tax Effect​: An important benefit of the introduction of GST will be the removal of the cascading tax effect. In simple words, “cascading tax effect” means a tax on tax. Under the current regime, the service tax paid on input services cannot be set off against output VAT. Under GST, the input tax credit can be availed smoothly across the spectrum of goods and services, thus reducing the tax burden on the end user and removing cascading effect. ​
  • Composition Scheme: GST also has an optional scheme of lower taxes for small businesses with turnover between Rs. 20 to 75 Lacs. It is called the composition scheme. This will bring respite from tax burdens to many small businesses.
  • Save Penalty​: GST law has mandatory threshold limit of Rs. 18 Lacs in a financial year, means if your taxable turnover of services is cross Rs. 18 Lacs before closing of financial year then within 30 days you have to registered with service tax department, failing to do so you have to penalize for.​
  • Boosting Your Business Profile​: Starting out as a small business or new limited company it can be tough to compete with the big boys. Most people are aware of the GST registration threshold, so voluntarily registering your business for GST might give the impression that your business is bigger and more successful than it actually is.

DOCUMENTS REQUIRED FOR GST REGISTRATION

  • Identity and Address Proof of Promoters: Identity proof and address proof documents like PAN, Passport, Driving License, Aadhaar card or Voters Identity Card must be submitted for all the promoters.
  • Business Registration Document: Proof of business registration like incorporation certificate or partnership deed or registration certificate must be submitted for all types of registered entities.
  • Address Proof for Place of Business: Documents like rental agreement or sale deed along with copies of electricity bill or latest property tax receipt and NOC from the owner of the property must be submitted for the address mentioned in the GST registration application.
  • Bank Account Proof: Scanned copy of the first page of bank passbook showing a few transaction and address of the business or cancelled cheque must be submitted for the bank account mentioned in the registration application.
  • Digital Signature: Class 2 or class 3 digital signature is required for the authorised signatory to sign and submit the GST registration application. In case of proprietorship, there is no requirement for digital signature.

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