Goods & Service Tax

GST Registration

GST Registration is applicable on all goods and services except Petroleum products as of now. Goods & Service Tax (GST) is a consolidated tax, which essentially means that State and Central Indirect taxes have been merged. Entire country now operates under a uniform tax system. It now replaces service tax, excise, VAT, entertainment tax, luxury tax, octroi, CST etc.

GST Features

1. The Taxpayer will be legally recognized as a supplier of goods or services.

2. He would be legally authorized to collect tax from his customers and pass on the credit of the taxes paid on the goods or services supplied to the purchasers/ recipients.

3. He can claim input tax credit of taxes paid on his purchases / procurements and can utilize the same for payment of taxes due on supply of goods or services.

4. Seamless flow of Input tax credit from suppliers to recipients at the national level

Process of Registration

1. Documentation –  A Compliance Manager will get in touch with you to obtain your documents along with a simple checklist. You need to fill up that checklist and submit along with your documents for processing. Our team of experts will verify the documents. Our team of experts will verify the documents provided by you and take the procedure further.

2. Application – Once our expert team completes verification process of your documents, the team will proceed with registration formalities. All throughout the process, your dedicated Compliance Manager will keep you updated on the progress of GST Registration. We will apply for GST Registration online and provide you ARN immediately.

3. GST Certificate – Once we applied for the GST registration, the officer will verify the form and approve the filing of the GST application form. After successful filing of form your GSTIN and GST Certificate will be generated which means you will have your GST number. Note that It generally takes 3 to 7 days to get the GST number if the form and documents are correctly filed.

Document Required

1. PAN of applicant
2. Aadhar Card
3. Address Proof of business
4. Proof of business or registration
5. Identity and Address Proof of Directors with photographs
6. Bank Account Statement or cancelled Cheque
7. Authority Letter
8. Digital Signature (not required in proprietorship firm)

paperwork

Frequently Asked Questions

All businesses that successfully register under GST are assigned a unique Goods and Services Tax Identification Number also known as GSTIN (GST Identification Number).

  • Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)
  • Businesses with turnover above the threshold limit of Rs. 40 Lakhs (Rs. 10 Lakhs for North-Eastern States, J&K, Himachal Pradesh and Uttarakhand)
  • Casual taxable person / Non-Resident taxable person
  • Agents of a supplier & Input service distributor
  • Those paying tax under the reverse charge mechanism
  • A person who supplies via e-commerce aggregator
  • Every e-commerce aggregator
  • The person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person

Yes, the process for registration of GST is completely online and paperless. You don’t have to move out of your home or office. We do all the paperwork and submit an application online.

The “Aggregate Turnover” means total turnover of a person having the same PAN in respect of the following:

(i) All taxable supplies including interstate supplies

(ii) Exempt supplies

(iii) Exports of goods and/or service

The above shall be computed on all India basis and excludes taxes charged under the CGST Act, SGST Act and the IGST Act.

Yes, in that case, GSTIN is required to be obtained for each state separately. We have special prices for multi-state registrations. You may specifically mention this to your compliance manager to avail benefits.

Yes, it is mandatory to obtain GSTIN in case of certain categories of persons. The major categories are given below:

(i) Persons making any Inter-State taxable supply of Goods / Services

(ii) Persons who are required to pay tax under Reverse Charge Mechanism (RCM) or Persons who are required to deduct tax under GST (TDS)

(iii) Persons who supply goods and/or services on behalf of other registered taxable persons whether as an agent or otherwise

(iv) Input service distributor

(v) Casual taxable persons or Non-resident taxable persons

  • Before you apply for a GST Registration as a normal taxpayer, it is mandatory to obtain a PAN.

Yes surely, Government grants some special exemptions for small businesses like yours. You may opt for composition scheme under which you will have to pay GST @1% only. If you are a restaurant, the rate is 5%. However, you can not claim GST Credit if you opt so. You need to file only 1 return per quarter. This scheme is not applicable if you are –

  • Service providers
  • Inter-state sellers
  • E-commerce sellers
  • Supplier of non-taxable goods
  • Manufacturer of Notified Goods

No. As an unregistered dealer, you can not do so. You will have to register yourself under GST to be able to claim ITC.

Upon successful submission of application, you will obtain GSTIN usually within 4-6 working days.

Once GST certificate is granted, the registration is valid until it is surrendered or canceled or suspended. Only GST certificate issued to a non-resident taxable person and a casual taxable person has a validity period.

Registration under GST is PAN based. That means one registration for one PAN holder. Your partnership firm will have a separate PAN which is unique. And you will also hold your own PAN for you as individuals.

So, both firm and individual business of the partners will have separate registration under GST.

TeamIndia provides its services all across India.