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GOODS AND SERVICE TAX REGISTRATION

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What is Goods And Service Tax (GST)?

GST is an indirect tax that will be levied on goods and services. This tax will be substitute for all indirect tax levied by state and central government.
There are 3 Components of GST : Central Goods and Services Tax or CGST (levied on intrastate supplies by the central government),
State Goods and Services Tax or SGST (levied on intrastate supplies by respective state governments) and Integrated Goods and Services Tax or IGST (levied on interstate supplies by the Centre (equal to CGST + SGST combined on supplies made within the state).

Why Goods And Service Tax (GST)?

  1. Businesses whose turnover exceeds Rs. 40 lakhs* ( Rs.10 lakh for businesses that are present in hill states and North-Eastern states)

  2. If you are a service provider & sales or turnover is crossing Rs. 20 lakh in a year

  3. If you have an e-commerce business

  4. If you are doing business in an inter-state

  5. If you are required to pay tax under reverse charge

  6. Non- resident person (If you live outside India, but supply goods to individuals who stay in India)

  7. Individuals who pay tax under the reverse charge mechanism

  8. Input service distributors and agents of a supplier

  9. If you supply goods or services, and not having a permanent place of doing business, GST Registration will be compulsory because its charged on the basis of an estimated turnover of 90 days.(validity of the Registration is 90 days)

  10. Outside India Online Portal

IMPORTANT : If a business operates from more than one state, then a separate GST registration is required for each state. Also if business with multiple business verticals in a state have to apply for separate registration for each business vertical.

Why Goods And Service Tax (GST)?

  1. Benefit of availing seamless input tax credit

  2. Removes cascading effect of taxes

  3. GST provides credits for the taxes paid by producers earlier in the goods/services chain

  4. GST also removes the custom duties applicable on exports

  5. Elimination of multiple indirect taxes

  6. Increase in GDP

  7. More competitive business

  8. Increase in Revenue

If you fail to register for GST, you can incur heavy fines and penalties.

Time Duration : It takes 7-15 working days to register GST.

Fee : Rs. 999/-



Documents

  • Proprietor Name
  • Aadhar card
  • PAN Card
  • Address Proof
  • Bank Account statement/Cancelled cheque
  • Incorporation certificate
  • Address proof of Director with Photographs (passport size)
  • Aadhaar card, PAN card, Photograph of all the directors
  • Bank Account statement/Cancelled cheque
  • Address proof of the place of business
  • Digital Signature

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