The GST Registration or the GST (Goods and Service Tax) Bill was introduced by the Prime Minister, Narendra Modi, in an effort to replace all the other taxes that are imposed on the public by state and central government. It is now mandatory for all the entities that are engaged in the supply of goods or services across the states to get there GST Registration on time.
It is very easy to get the GST Registration. Few steps, documents submission and payment of the GST Registration fees will give your GST Registration certificate. You can avail the service of the GST Registration Online to do fast work.
GST Registration under Goods and Service Act (GST Act)
GST Registration or Goods and Service tax is the biggest reform in India who had kicked all the indirect taxes in India. GST is a single tax that is levied on all the goods and services supplied; it is a kind of destination tax. The supplier needs to take GST registration if he manufactures, sale and consumes goods as well as services at the national level.
As per the New GST Registration, the business whose turnover exceeds the amount Rs 20 lakhs (10 Lakhs for North East and hill states) or supplying goods and service across the state irrespective of the amount of turnover is required to have their GST Registration as a normal taxable person.
Model of GST Registration
Now, let’s understand these taxes with an example-
- IGST – when we supply goods from one state to another. For e.g. – Ram sell goods worth Rs 50,000 from Delhi to Himachal. The tax rate is 18% under IGST. Now, Ram has to pay Rs 9000 to the central government as IGST.
- CGST- when we supply goods within the state. For e.g. - Ram sell goods from Lucknow to Noida.
- SGST- when we supply goods within the state. For e.g. – Ram sell goods from Delhi to Mayur Vihar worth Rs 50,000. Now, for both CGST and SGST the GST Rate is 12% which will be comprised as CGST at 6% and SGST at 6%.
GST Registration Tax Rate Structure
*The most essential goods like rice, wheat etc comes under the 0% GST Tax rate. STARVING MORE? Give us a call and we will explain you the complete bifurcation of the GST Tax rate applied to the different categories of goods and services.
Eligibility Criteria for GST Registration in India
- Requirement for digital signatures
- GST Registration
Our representative will provide you with class 2 digital signature within three days since it is a requirement for GST Registration, however if you have a digital signature already, this step can be ignored.
All documents required for GST Registration will be collected by us for processing them online. Provided all of the documentation is done and is in order, the GSTIN will be given to you within 4-6 working days. We have experts in this field who will be able to guide you through this process since we process thousands of such applications on a monthly basis.
GST Registration Features
- Conditional Registration – under section 22 of the Act, the threshold limit for GST Registration is specified and also determined the following suppliers to go for online GST Registration Process. If the aggregate turnover of any supplier exceeds the amount of Rs 20 lakhs then the company is required to go for Online GST Registration.
- Mandatory or Compulsory GST Registration- along with these threshold limit, section 24 of the act specifies a list of the supplier that come under the mandatory GST Registration
- Voluntarily Online GST Registration
a) Supplier Under Reverse Charge
b) The person doing interstate supply
c) Input Service Distributor
d) A person claiming or remitting Input Tax Credit
e) The person supplying through E-Commerce by collecting tax at source u/s 52
f) Casual taxable person affecting the taxable supply
g) Non- resident taxable person affecting taxable supply
h) E-Commerce Operator
i) The person supplying on behalf of other like as an agent or not
j) The person supplying online information and database or retrieval service from a place outside India to a person in India who is unregistered and needs an online GST Registration.
A person with its own wish may apply for voluntarily GST Registration online even if he has no turnover of supply of goods or services. He can still get its GST Registration and can avail all the benefits attached to it which are as follows-
a) Easily collection of taxes from customer end
b) Easy process of Input Tax Credit
c) GST Invoice
d) Customer satisfaction
Procedure for GST Registration Online in India
The following is the procedure for GST Registration online in India-
- Log in to www.gst.gov.in
- Select “Service” showing at the top of the page and choose “Registration” from the option given
- Click on “New Registration”
- Complete the details like the legal name of the business, the location of the business, PAN Business account, contact number, and email address. In the Form, Part A will be including these details.
- An e-mail confirmation will be generated to verify the details submitted by sending one- time password
- Submit the documents according to your type of business
- Submit Part B of the form
- An Application Reference Number via email or text message to confirm the confirmation of the forms.
After the verification of all details in the form or documents, the GST Officer will approve the application or either reject the application due to any sort of the documents and then gives the approval for GST Registration.
Documents Required for New GST Registration in India
The following are the documents required for new GST Registration in India
- PAN Card of the applicant
- Identify the proof and address proof of the applicant like Aadhar Card, Pan Card, Driving License
- Proof the Registration of the business or Partnership deed in case of the partnership and registration of certificates.
- Address proof for the location of business like Electricity bill, phone bill, Pan Card
- Business Bank Account details
- Rent agreement or lease agreement in case of the property purchase on rent or lease
The documents will be verified and checked for GST Registration in India.
Who all are needed to have GST Registration Certificate in India?
- Existing Taxpayer – all taxpayers who are registered under VAT/CST, Excise, and Service page needs to apply to the online GST Registration and earn the benefit of the Input Tax Credit.
- New Taxpayer – all-new taxpayer who is liable under the current regime needs to get their GST Registration.
- For Casual dealer – a casual dealer who starts a business under the GST regime has to apply for online GST Registration within 5 days of the commencement of business. A casual dealer is required to pay GST in advance on the estimated turnover of 90 days.
- For Non- Resident taxable Person – any non- resident taxable person who commences a business without setting up the fixed establishment or office needs to apply to Online GST Registration in India.
Hence, the validity of new GST Registration for non- resident is for the maximum of 90 days.
GST Registration Fees in India
There is no official government GST Registration fee or cost which you need to pay for the Online GST Registration on any of the official government websites. The GST Registration process is still a long run race which involves various turns and twist, so it is advisable if you take the professional advice. Our Corpbiz team provides you the end to end services related to complete GST Registration Procedure.
How to File GST Return under GST Registration in India?
GST Return is one of the important compliances that come under the GST Registration in India. GST Return is to be filed with the documents related to the ITC, sales, tax collected and purchase. GST Return should be filed on the date as specified. Call us or contact us we will completely take care of your GST Return. Otherwise, you will be penalized with a heavy penalty.
Penalties under GST Registration in India
- If there is any delay in the payment or non- payment of the taxes accrued, then the offender will be liable to lose the packet and pay the heavy penalty on it. Such penalty will be 10% of the unpaid taxes or Rs 10,000 whichever is higher
- However, if the offender has deliberately evaded the payment of taxes under the law the penalty amount will be 100% of the unpaid taxes.
How to check the GST Registration Status?
It is very easy to check the GST Registration status. You just need to use your GST Registration login on the official website of the GST.
What are the advantages of GST Registration in India?
- For Registered Business
- For Composition Dealer
- Voluntarily opted GST Registration in India
- More scoop of Advantages under GST Registration in India
1. Input Tax Credit
2. Interstate sales without Restriction
1. Less tax Liability
2. High Working Capital
3. Few Comp0liances
1. The benefit with Input Tax Credit
2. Interstate supply with no restriction
3. Easy Registration for E-commerce websites
1. Facility of Composition Scheme
2. Simple and easy online GST Registration process
3. Few compliances
4. Threshold limit for Registration
5. Eliminates the cascading effect of the tax
Hence, we have tried to compile all the information related to the GST Registration in India from how to file GST Registration to GST Return. Feel free to contact us for any further information.