An Overview of GST Registration in Bangalore

To abolish several other indirect taxes & to create a single effective taxation system, GST was introduced in India. Also, it helps in the ease of collection & enhances the efficiency of the process. GST Registration in Bangalore is required for businesses whose annual turnover is more than Rs. 40 lakhs for the sale of goods and individuals providing services need to register under GST if their annual turnover exceeds Rs. 20 lakhs. Also, for some businesses, GST Registration is compulsory and if the entity/an individual carries on Business without GST Registration, then it will be treated as an offence under the GST Act & heavy penalties will be levied. If you are going to start a business in Bangalore, do you have any doubt whether you want to go for GST Registration or not? Contact Corpbiz; we will help you in getting the GST Registration in Bangalore and clear all your doubts related to GST.

What are the Benefits of GST Registration in Bangalore?

The following are the benefits of GST Registration in Bangalore:

• Removing cascading tax effect;
• Lesser Compliance;
• Increase efficiency in logistics;
• Defined treatment for e-commerce;
• Higher Threshold for Registration;
• Composition Scheme for Small Businesses.

Who can apply for GST Registration in Bangalore?

1. Every person or individual who is registered under a previous law such as Excise, Service Tax, Vat, etc.) needs to register under GST;
2. A person or an individual who occasionally supplies goods &/or services in a territory where GST is applicable but he or she doesn't have a fixed place of Business. Such a person or individual will be treated as a causable taxable person or as a non-resident taxable person;
3. E-commerce aggregator or operator;
4. A person who supplies through an e-commerce aggregator;
5. Person supplying online information & database access/retrieval services from a place outside India to an individual in India other than a registered taxable person;
6. When a business or entity which is registered has been transferred to someone or demerged, the transferee shall take GST Registration with effect from the transfer date;
7. Anyone who drives the inter-state supply of goods;
8. Supplier agents;
9. Those paying tax under Reverse Charge Mechanism;
10. Input service distributor.

Documents Required for GST Registration in Bangalore

Following are some crucial Documents required for GST Registration in Bangalore:

Proprietorship

• Documents of the Proprietor:

1. Email id and phone number of the proprietor;
2. PAN Card of the Proprietor;
3. Latest passport-size photo of the proprietor;
4. Identity proof of the proprietor, such as an Aadhar Card.

• Documents Regarding Business:

1. Nature of the business and Business Name;
2. Latest bank statement of the firm or individual;
3. Description of goods or services provided;
4. Address proof of the Business: (if rented), Rental Agreement or Lease Agreement, along with the latest electricity bill. (If Owned), Sale Deed, or Latest Property Tax Receipt or Municipality Khata Copy along with the latest Electricity bill.

Partnership Firm

• Partner’s Documents:

1. PAN Card of the Partner;
2. Latest passport-size photo of the Partner;
3. Identity proof of the Partner, such as an Aadhar Card;
4. Phone Number & email id of all the proposed Partners.

• Documents of the Firm:

1. Partnership Agreement;
2. Information of goods or services provided;
3. Latest bank statement with transactions;
4. Authorisation Letter (In the format attached herewith to be printed on the letterhead of the firm, signed by all the proposed partners with the firm seal affixed;
5. Address proof of the Business - (if rented), Rental Agreement or Lease Agreement, along with the latest electricity bill. (If Owned), Sale Deed, or Latest Property Tax Receipt or Municipality Khata Copy along with the latest Electricity bill.

LLP or Limited Liability Partnership

• Documents of the Partner:

1. PAN Card of the Partner;
2. Latest Passport size photo of the Partner;
3. Phone number and email id of all the Partners;
4. Identity proof of the Partner, such as an Aadhar Card.

• Documents of the LLP Firm:

1. Certificate of Incorporation;
2. PAN Card of the LLP;
3. Latest Bank Statement with transactions;
4. Details of the goods or services provided;
5. Authorisation Letter (In the format attached herewith to be printed on the letterhead of the firm, signed by all the proposed partners with the firm seal affixed;
6. Address proof of the Business - (if rented), Rental Agreement or Lease Agreement, along with the latest electricity bill. (If Owned), Sale Deed, or Latest Property Tax Receipt or Municipality Khata Copy along with the latest Electricity bill.

One Person Company

• Documents of the Director:

1. PAN Card of the Director;
2. Latest passport-size photo of the Director;
3. Identity proof of the Director, such as an Aadhar Card;
4. Phone Number & email id of all the proposed Directors

• Documents of the Company:

1. Certificate of Incorporation;
2. Latest Bank Statement with transactions;
3. Details of the goods or services provided;
4. Authorisation Letter (In the format attached herewith to be printed on the letterhead of the firm, signed by all the proposed partners with the firm seal affixed;
5. Address proof of the Business - (if rented), Rental Agreement or Lease Agreement, along with the latest electricity bill. (If Owned), Sale Deed, or Latest Property Tax Receipt or Municipality Khata Copy along with the latest Electricity bill.

Private Limited Company

• Documents of the Director:

1. PAN Card of the Director;
2. Latest passport-size photo of the Director;
3. Identity proof of the Director, such as an Aadhar Card;
4. Phone Number & email id of all the proposed Directors

• Documents of the Company:

1. Certificate of Incorporation;
2. Latest Bank Statement with transactions;
3. Details of the goods or services provided;
4. Authorisation Letter (In the format attached herewith to be printed on the letterhead of the firm, signed by all the proposed partners with the firm seal affixed;
5. Address proof of the Business - (if rented), Rental Agreement or Lease Agreement, along with the latest electricity bill. (If Owned), Sale Deed, or Latest Property Tax Receipt or Municipality Khata Copy along with the latest Electricity bill.

Procedure for the GST Registration in Bangalore

Following is the step-by-step procedure for GST Registration in Bangalore:

Step 1: Documentation: First, our GST experts will collect all the vital Documents and complete the GST application online.

Step 2: Application Filing: Once all the Documents are collected by our experts, the application will be processed & filed. Then immediately, the ARN Number will be issued.

Step 3: Issue of GST Certificate: The GST Registration Certificate & GSTIN will be issued upon verification of the GST application & other vital Documents by the GST Officer.

Penalties involved under GST Act

The following are some penalties involved under GST Act:

1. Not having GST Registration: 100% tax due to Rs.10,000/- whichever is higher.
2. Incorrect Invoicing: Rs. 25,000/-
3. Not filing GST Returns: For Nil Return, its Rs. 2o per day, Regular Returns Rs. 50/day.
4. Not giving GST Invoice: 100% tax due to Rs. 10,000, whichever is higher.
5. Choosing Composition Scheme even if not eligible: 100% tax due or Rs. 10,000/- whichever is higher.