GST Registration Online
What is GST Registration?
GST registration is the process of obtaining a unique identification number for a business subject to Goods and Services Tax (GST). According to the Central Goods and Services Tax Act, 2017, businesses with an annual turnover of more than Rs 40 lakh (Rs 20 lakh in some states) are required to collect tax. GSTIN (Goods and Services Tax Identification Number), commonly known as GST number in India, consists of 15 digits. These numbers are unique to each taxpayer and act as a tax identification number. This identity supports the sharing of all transactions and business-related information with the authorities. It replaces VAT and other taxes. GST registration refers to the process of registering a company under the GST Act 2017. All e-commerce merchants need to register for GST. Citizens can apply for the new GST online without going to any government office. The registration process can be initiated from the GST portal. The portal will generate the ARN status immediately after submitting the GST application.
Input Tax Credit
Registered businesses can claim input tax credit on taxes paid for purchases, reducing their overall tax liability.
Legal Recognition
GST registration provides businesses with legal recognition, enhancing their credibility and trustworthiness in the market.
Simplified Compliance
GST streamlines the tax structure, consolidating multiple indirect taxes into one, making compliance easier.
Online Filing
GST allows for online filing of returns, making the process more convenient and efficient.
GST Compliance Rating
GST compliance assessment is a score given to businesses by the government based on parameters such as timely submission of monthly and annual returns, use of spending strategy, and provision of tax details. This compliance measure shows consumers and other businesses how well they comply with tax laws. Businesses with high compliance rates are successful in getting ITC credits and refunds on time. GST authorities prioritize ITC claims and refunds from profitable businesses, ensuring quick recovery of credit and finance.
Documents Required for GST Registration
The following documents are required for the new registration process.
- Applicant’s PAN
- Aadhaar card
- Evidence of business registration or Incorporation certificate
- Promoters/Director’s Identity and Address proof with Photographs
- Business location Address proof
- Electricity bill and utility bill of the office address
- Bank account details, statement or canceled cheque
- Digital Signature Certificate
- Letter of Authorisation or Board Resolution for Authorised Signatory
Mandatory GST Registration for Specific Businesses
Certain types of businesses are required to register for Goods and Services Tax (GST) regardless of their turnover. Understanding these requirements is crucial for compliance and avoiding penalties. Below are the categories of businesses that must obtain GST registration:
1. Inter-State Suppliers
- Any business supplying goods or services between states must register for GST, regardless of turnover. This includes both manufacturers and service providers.
2. E-Commerce Operators
- Businesses operating through e-commerce platforms are mandated to register for GST, as they facilitate the sale of goods and services online. This includes platforms like Amazon, Flipkart, and others.
3. Casual Taxable Persons
- Individuals or businesses that occasionally supply goods or services in India without a fixed place of business must register. This is often applicable to businesses participating in trade fairs or exhibitions.
4. Non-Resident Taxable Persons
- Non-resident entities conducting business in India are required to register for GST. This includes foreign companies providing services or selling goods in India.
5. Input Service Distributors (ISD)
- Entities distributing input tax credit to other registered businesses must obtain GST registration.
6. Specialized Categories
- Specific categories, such as suppliers of goods/services on behalf of a registered person, must also register under GST.
7. Aggregate Turnover Considerations
- Even if a business falls below the general turnover threshold (₹20 lakh or ₹10 lakh in special category states), if it falls under one of the above categories, GST registration is mandatory.
Types of GST Registration
Here are few types of GST registered in India:
Central Goods and Services Tax (CGST) is levied on goods and services within a state
State Goods and Services Tax (SGST) is levied on the sale of goods or services into a state
Integrated Goods and Services Tax (IGST) is levied on businesses that supply goods and services across state borders
Federal Goods and Services Tax (UTGST) is levied on goods and services supplied in the Union Territories of Andaman and Nicobar Islands, Daman and Diu, Dadra and Nagar Haveli, Lakshadweep and Chandigarh. UTGST is charged along with CGST.
Regular, Casual, and Non-Resident Taxable Persons
Here is clear outline of regular, casual and non resident taxable persons:
Regular Taxpayers
Regular GST taxpayers have to pay GST when their income in a financial year exceeds the specified amount. Sellers must be registered with the government or agency when supplying goods and services.
Casual Taxable Person
A person who, without having a permanent establishment, regularly engages in business involving the supply of goods or services, or both, in a government or an organization, as a director, agent or other capacity, is called a regular taxpayer.
Non Residential Taxable Person
A non-resident taxable person is a person who, although not having any place of business or residence in India, is engaged in business involving occasional supply of goods or services or both, as a principal, agent, class or extension of himself or herself, to another person.
ECommerce Operators and GST
According to the Goods and Services Tax Act 2017, all e-commerce business owners are required to pay tax at the rate of 1% of the e-commerce sales price. E-commerce operators who maintain digital or electronic sites for sale must be registered under the Act and registered with TCS.
GST Registration FAQs
GST (Goods and Services Tax) is a comprehensive tax on the supply of goods and services in India. It replaces multiple indirect taxes and aims to simplify the tax structure.
- Businesses with an aggregate turnover exceeding the threshold limit (currently ₹20 lakhs for most states).
- Inter-state suppliers.
- Businesses that supply e-commerce services.
- Certain specified categories like casual taxable persons and non-resident taxable persons.
The threshold limit varies based on the type of supply and location. Generally, it is ₹20 lakhs for most states and ₹10 lakhs for special category states.
Registration can be done online through the GST portal:
- Visit the GST portal.
- Complete the application form (GST REG-01).
- Upload necessary documents.
- Receive the GST registration certificate.
- PAN card of the business.
- Proof of business registration (like partnership deed, certificate of incorporation).
- Identity and address proof of the promoter(s).
- Address proof of the business premises.
- Bank account statement or canceled cheque.
The GST registration number, also known as GSTIN (GST Identification Number), is a unique 15-digit number assigned to each registered taxpayer.
- Legitimizes your business.
- Allows you to collect GST from customers and claim input tax credits.
- Helps in expanding business opportunities, especially for inter-state trade.
Failure to register can result in penalties, interest on unpaid tax, and possible legal action.
The composition scheme allows small businesses to pay a fixed percentage of turnover as tax instead of the regular GST rates. This scheme has its own eligibility criteria.
Yes, you can update details like address, bank account information, and business details through the GST portal.
WHY CHOOSE US?
Best Online Company Registration in India
7 Working Days
Fastest Company Registration Services in Indua That excitement around your first company registration is real, we love it and want to hep you make that a success! The same, Thus Provide the services With seriousness.
Personal Assistant
As soon as you decide to initiate your registration process through us, you are assigned a personal dedicated assistant who ensures the best service to our customers and answers all queries at their convenience.
Best Customer Support
We are dedicated to assisting you in the best way we can. Please contact us even during unusual times. We are happy to solve your questions about why we have 5-star rating on Google, you can contact us anytime by call, sms, email, Whatsapp
Lowest Price In India
First step is the hardest, we have reinterpreted these words to help you take the first step towards your business easily, you can trust Vakiltalks - India's Best Consultants as we work at the lowest price for your service.
Personal Assistant
Once you decide to complete the company registration process with us, we will assign you a personal assistant to ensure a good user experience and answer all your questions in a timely manner.