Who Should Register for GST?
Any businesses which have a turnover of above 40 lakhs (Rs 10 Lakhs for North-Eastern states, J & K, Himachal Pradesh and Uttarakhand), Rs 20 lakhs in case of services.
Person who connects through e-commerce business (such as Amazon or Flipkart), should register for GST from the beginning only.
If you supply goods or services in events/exhibition & you don’t have a permanent place of business, you need to get online GST Registration. The validity of causal GST Registration is 90 days
Sales/Service provide to other state (Inter State)
One should register under GST if any supplier of goods or service provider involved in any other state.
Involved In Online Information
Person supplying online information and database access other than a registered taxable person
NRI Exporters & Importers
Any NRI person or company supplying goods or services in India need to register GST regardless of turnover.
Benefits of having GST Number
Become more competitive in Market
Interstate trading is impossible without having a GST number. It is possible only after registering the business under GST.
Expansion of business online
You must acquire a GSTIN if you are willing to compete with big brands like Amazon, Flipkart, Shopify, Paytm on ecommerce platform or through your own website.
Get Input Tax Credit
If you have a GST Number, you can avail Input Tax Credit while filing for GST return.
Interstate sales without restrictions
You can sell your products in other states only after completing the registration for GST.
Document Required for GST Registration
The following documents are required to register of GST (Goods and Service Tax) –
- PAN Card
- Aadhaar Card
- Phone number and Email address
What is GST?
GST or Goods and Service Tax is a kind of indirect tax for India and applicable on the supply of products and providing of services. It is a comprehensive and multi-staged assessing; comprehensive because it has subsumed all the indirect taxes except a few and multistage because it is implicated at every step within the generation prepare. It is supposed to be discounted to all the parties within various stages of generation except the ultimate consumer.
What is the need of GST?
It is a mandate issued by Govt. of India who basically try to save tax and keep oneself from the cascading effect of tax.
Is it necessary to pay GST?
Yes, it is mandatory to pay GST for all the tax payers who is registered under GST regime.
Can a business operate across India with one GST number?
An entity operating in multiple states will have to register separately for each state from where supplies of goods or services take place.
When Digital Signature is required for the GST Registration?
DSC is required in case of private limited company, LLP etc. In case of proprietorship firm or partnership firm, DSC is not required.
Do I need a commercial address for the registration?
If you are handling your business from your home, then you can register the residential address with the GST. It requires only the address proof such as electricity bill, NOC, sale deed or link agreement.
What documents are required as a Place of Business proof?
We require the copy of electricity bill or NOC from the landlord in case of rented place. NOC format will be share by our company during registration process.
Is PAN mandatory for the registration of GST?
PAN is mandatory for general taxpayers and also the casual taxpayers entitled under GST.
Is there any chance of rejection during GST registration?
If you don’t submit correct required documents during submission of registration, then the jurisdiction officer shall reject the application. You have to apply again along with proper documents.