An overview of GST Registration in Bhopal

The GST, or Goods and Services Tax, is an indirect tax assessed on domestically consumed goods and services. The Goods and Services Tax was introduced by the Indian government as their ‘One nation, one tax’ agenda. This became effective on July 1st, 2017. Unless and until the GST Council exempts them, all goods and services in India are subject to the GST. The GST council decides all the policies regarding GST. It is constituted under Article 279 of the Indian Constitution. GST is levied at all stages of the supply chain. GST is dual levied by the Central Government as CGST and by the State Government as SGST.  

When is GST Registration is Mandatory in Bhopal? 

Any company in Bhopal that is subject to the following criteria is required to register for GST and should have a GSTIN: 

1. An intra-state firm having a turnover of at least INR 20 lakhs per year, excluding the special category states of Jammu & Kashmir, Uttarakhand, the North East, and Himachal Pradesh, where the barrier is INR 10 lakhs.

(Note: If the taxpayer is exclusively engaged in the supply of products and complies with the statutory conditions, the limit is INR 40 lakhs.) 

2. Any cross-state transactions, regardless of revenue.
3. All e-commerce companies, regardless of revenue.
4. Regardless of its yearly revenue, a business must have a GSTIN in order to receive an input tax credit.
5. Separate registrations are necessary for businesses operating in numerous states.
6. Unexpected Taxpayer Producing Taxable Supply.
7. Those who are subject to Reverse Charge tax obligations.
8. Taxable non-residents who make taxable supplies.
9. Those who must withhold taxes under Section 51 of the Income Tax Act, whether or not they have individually registered under this Act.
10. The distributor of input services, whether or not they are separately registered under this act.
11. The person who is required to pay taxes under Section 9 sub clause (5) of the Income Tax Act.  

What is GSTIN? 

Every taxpayer registered under the GST regime is given a unique 15-digit identification number known as a GSTIN, or a Goods and Services Tax Identity Number. Below is a description of the GSTIN format: 

• The state code is represented by the first two digits of the GSTIN's 15 digits.
• The PAN of the individual or corporate entity is the following 10 digits.
• The thirteenth digit is based on how many times the company has registered under the same PAN within a state.
• By default, the fourteenth digit will be the letter ‘Z’.
• The final digit, known as the check code, is used to identify faults and may be represented by a number or an alphabet. 

Document needed for the registration

Following is the list of documents you will be needing, during the process of registration in Bhopal:

• Date of formation of the company
• Pan Cards of organisations, trusts, and societies;
• Passport-size photos and PAN Cards of the company's promoters and partners
• Contact Information, which includes the company's mailing address, phone number, and website address; 
• Business Registration Number (BRN) and Identification Number (INN);
• Types of Business Activities Performed by the Company; 
• Purpose and Objectives of the Company;
• Annual Turnover of the Company;
• Types of Business Activities Performed by the Company in Prior Years

What is process of GST registration in Bhopal?

The process of GST registration in Bhopal has been explained below:

• Submit the application on the GST Portal: The applicant must enter their PAN information along with their mobile number, email address, and place of registration on the GST Portal. A Temporary Reference Number will be granted to the applicant once all of the documents have been verified (TRN).Using TRN applicant has to submit the other documents.
• Acknowledgement of the application: After receiving the application, an acknowledgement will be issues to the applicant. After that an officer will examine the application and all the documents filed with the application.
• Issue of GST registration certificate: After the verification is completed, and if the application is approved, a certificate of GST registration will be issued.

Corpbiz support 

We at Corpbiz provide small to large businesses in India with quick GST registration services in Bhopal. The GST portal has a lot of complex fields; our experts will help you make the whole registration process hassle-free for you. Our experts are here to explain to you the entire GST registration process in Bhopal and clear your doubts.