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GST Registration
ADVANTAGES OF GST REGISTRATION
- GST Registration eliminates and eradicates the piling effect of the tax.
- Simple and online GST Registration process.
- GST registration for normal taxpayers and GST registration under composition scheme for small businesses help the unorganised sectors.
- The number of compliances under GST registration is lesser than the previous tax structure.
- Through the introduction of the E-way bill through the GST registration portal, improves efficiency in logistics
- The prices are not reduced after reducing the GST rates notified by the Central Board of Indirect Taxes and customs (CBIC).
- GST registration certificate and return copy can be obtained through GST portal by downloading the document as many time required.
- GST is a comprehensive indirect tax built to bring the total indirect taxes under one umbrella, hence reduces the total tax burden.
GST Registration FAQ's
What is a GST certificate in India?
A Goods and Services Tax (GST) certificate is a document issued by the Indian government that certifies that a business is registered with the Goods and Services Tax (GST) system. It is a unique identification number that is used to identify a business for taxation purposes in India.
Who needs GST certificate?
Any business that is registered for GST with the Indian government must have a GST certificate. This applies to both online and offline businesses.
Is GST certificate compulsory?
Yes, in India, businesses must obtain a GST certificate in order to be registered for GST. Without a GST certificate, businesses will not be able to charge GST on the goods and services they sell.
What is the minimum limit for GST registration?
Businesses with an annual turnover of more than Rs. 40 lakhs are required to register for GST. However, this limit is lower for businesses in certain special category states, such as Arunachal Pradesh, Manipur, and Nagaland. Also, there are different rules for businesses involved in e-commerce, which may have to register for GST regardless of their turnover.
Read our article to find more details on turnover limit for GST Registration.
Read our article to find more details on turnover limit for GST Registration.
Can a person with no GST registration collect GST?
No, only persons registered under GST are allowed to collect GST from the customers. A person not registered under GST cannot even claim the input tax credit on the GST paid.
What is an E-way bill?
An E-way bill is an electronic document which serves as an evidence to the movement of goods having a value of more than Rs. 50,000. It available to a supplier or an individual transporting goods. It has two components; Part A, with details such a GSTIN of the supplier and recipient, place of delivery, value of goods, HSN code, reason for transportation and part B, with details of the vehicle and transport documents.
What are the benefits of an Eway bill?
It is a wholly digital interface that eliminates the need for state boundary checks. It will facilitate faster movement of goods and improve the turnaround time of trucks thus reducing costs for the supplier.
When should an e-way bill be generated?
As per rule 138 of the CGST Rules, 2017, an e-way bill has to be generated prior to the commencement of the transport of goods.
Is it mandatory to generate an e-way bill?
It is mandatory to generate E Waybill in all cases wherein the value of consignment is more than Rs. 50,000. However, it is not necessary to generate one wherein the goods are being transported by a non- motorized conveyance or if they are being transported from the port, airport, air cargo complex, and land customs station for clearance by customs.
What is the penalty for not generating an E-way bill?
Any taxable person who transports any goods without the cover of specified documents (e-way bill is one of the specified documents) shall be liable to pay a penalty of Rs. 10,000 or the amount of tax sought to be evaded (whichever is higher).
What is a Composition scheme?
Small businesses registered under the GST composition scheme can pay GST at a fixed rate of turnover every quarter and file quarterly GST returns. Composition levy would generally be related to small taxpayers who are supplying goods and services or both to the end consumer with a lower turnover.
What are the eligibility criteria?
Any existing taxpayer whose annual turnover did not cross the Rs.1.5 crore threshold in the preceding financial year. However, service providers with the exception of restaurants and caterers are not eligible, neither are casual taxable persons nor non-resident Indians.
Can Input tax credit be claimed under the composition scheme?
No input tax credit cannot be claimed by a dealer opting for a composition scheme as he is out of the credit chain. He cannot take credit for his input supplies.
How long will the scheme be valid?
The validity of the composition scheme will depend upon the option exercised by a taxable person as long as all the conditions are fulfilled as specified in the law. However, individuals who are eligible for the scheme can calso hoose to opt-out of it by simply filing an application
How will the aggregate turnover be computed?
It will be computed on an all-India basis and will include the value of all taxable supplies. It would exclude inward supplies under reverse charge as well as central, state/union territory and Integrated taxes and cess.
What is inter-state supply?
Inter-state supply of goods or service is when the supply location is a different state from the delivery location. In addition, the inter-state supply applies to the supply of goods or services by an SEZ unit or the export of goods or services.
What is intra-state supply?
An intra-state supply of goods or services applies when the place of supply is in the same state as the location of the supplier. Intra-state supply does not include the supply of goods/services to SEZ units or developers, imports, or exports.
What is SGST?
As per the SGST Act, the State GST or SGST applies to intra-state supplies of goods and services. It is administered by the respective state government. SGST liability can be set off against SGST or IGST input tax credit only.
What is CGST?
Central GST or CGST would be levied under the CGST Act on the intra-state supplies of goods and services. Hence in the case of intra-state supplies of goods and services, both the central and state government would combine their levies with an appropriate revenue sharing agreement between them.
What is IGST?
Integrated GST or IGST is the tax levied under the IGST Act on the supply of any goods and services in the course of inter-state trade across India. Further, IGST would include any supply of goods and services in the course of import into India and the export of goods and services from India.
What is the deadline for getting registered under GST?
An entity liable to be registered under GST should apply for registration within 30 days of meeting the criteria. Casual taxable persons and non-resident taxable persons are required to be registered under GST prior to commencing business.
Who is the primary authorized signatory?
The primary authorized signatory is the person who is primarily responsible to undertake tasks on the GST portal on behalf of the taxpayer. It could be the promotion of the business or any other trustworthy person nominated by the promoters of the business.
Is PAN mandatory for obtaining GST registration?
Yes. PAN is mandatory for obtaining GST registration. In the case of proprietorship, the PAN of the proprietor can be used. In the case of LLP or Company or Trust or other types of a legal entity, PAN must first be obtained for the entity. However, PAN is not mandatory for the GST registration of foreigners and foreign companies. For non-resident taxable persons, GSTIN with a fixed expiry date will be provided based on the other documents provided to prove existence.
What is the validity of GST registration?
GST registration does not have an expiry date. Hence, it will be valid until it’s cancelled, surrendered or suspended.Only GST registration for non-resident taxable persons and casual taxable persons have a validity period that is fixed by the authorities while issuing the GST registration certificate.
How to apply for GST number?
Click on the “Register Now” option on the official GST website. Select the appropriate registration form from the list and fill in the relevant details and submit. Once the form is submitted, the GST number will be issued.
For more details on how to apply for GST number, refer to our article.
For more details on how to apply for GST number, refer to our article.
Who is eligible for GST registration?
Any business that supplies taxable goods and services and whose turnover exceeds the GST registration threshold, which is currently set at Rs. 40 lakhs, must register for GST. Other businesses eligible for GST registration include those engaged in e-commerce activities, inter-state supply of goods, and providing services to someone in a different state.
Refer to this article to learn more about the GST eligibility criteria.
Refer to this article to learn more about the GST eligibility criteria.
What are the fees for GST registration?
Using the GST Registration Portal to register a business is free of charge. The entire procedure is free and conducted online.
Click here for more details regarding GST Registration fees.
Click here for more details regarding GST Registration fees.
What is compulsory registration under GST?
Compulsory registration under GST means that any business entity that is supplying taxable goods or services and whose turnover exceeds the threshold limit as prescribed by the government must obtain a GST registration.
What is the limit for GST registration?
The threshold limit for GST registration is Rs. 40 lakhs for most states in India. However, some special category states have a lower threshold limit of Rs. 10 lakhs.
What is the fees of GST registration?
The process of GST registration is free of cost on the official GST Portal.
GST Registration Online – An Overview
Launched on 1 July 2017, the Goods & Services Tax (GST) applies to all Indian service providers (including freelancers), traders and manufacturers. A variety of Central taxes like Service Tax, Excise Duty, CST and state taxes like Entertainment Tax, Luxury Tax, Octroi, VAT are accumulated in the GST. Also, taxpayers with a turnover of less than ₹1.5 crore can choose a composition scheme to get rid of tedious GST formalities and pay GST at a fixed rate of turnover.
Every product goes through multiple stages along the supply chain, including purchasing raw materials, manufacturing, selling to the wholesaler, selling to the retailer and then the final sale to the consumer. Interestingly, GST will be levied on all of these 3 stages. Let’s say if a product is produced in West Bengal but is being consumed in Uttar Pradesh, the entire revenue will go to Uttar Pradesh.
What Are the Components of GST?
GST has three tax components, namely:
Documents Required for GST Registration
The list of documents required for registration of GST for various business are as follows:
Proprietorship
LLP
Private Limited Company
The Following Can Be Shown as Proof of Address of a Director
Add what works as identity proof, One can use a PAN Card, Aadhar Card as identity proof. For address proof, any of the director’s can show their voters ID, passport, telephone bill, electricity bill and telephone bill.
GST Registration Process Online in India
Step 1: To apply GST Registration Online, visit the GST portal and select ‘New GST Registration’
Step 2: Fill in the necessary details like name of business, state, pan card details, etc
Step 3: Enter the OTP and click proceed
Step 4: Make a note of the Temporary Reference Number(TRN)
Step 5: Check the GST portal and select ‘Register’ in the ‘Taxpayers’ menu
Step 6: Enter the TRN and proceed
Step 7: Enter the OTP received on your registered mobile number or your email and then proceed
Step 8: You can check the status of your application on the next page
Step 9: Fill in the necessary details and upload the necessary documents
Step 10: Submit your application after verifying by one of the three methods given
Step 11: After completion, you will receive the Application Reference Number(ARN) on your registered mobile number and email id
Step 12: Now you can access the status of the ARN on the GST portal.
After successful registration, you will get your GST registration certificate and GSTIN after verification of the GST application and other mandatory GST registration documents by the GST officer. Be aware that no hard copies of the certificate will be issued and the GST certificate can be downloaded from the GST Portal.
Who Is Eligible for GST Registration?
What is a GST Certificate?
A GST Certificate is a document issued by the Indian government to businesses registered under the Goods and Services Tax (GST) system. It serves as proof of the business’s registration under GST and includes details such as the business’s GST identification number, name, and address. Businesses are required to have a GST Certificate to be able to charge and collect GST from customers. It is also used for various other purposes such as availing input tax credits, applying for loans and participating in tenders.
GST Tax Rates 2023
Goods and Services Tax (GST) is a value-added tax that is levied on the supply of goods and services in India. The GST tax rates in India are as follows:
In addition to these rates, there are some special rates that are applicable to specific goods and services. For example, gold is taxed at 3%, while crude oil and natural gas are taxed at 6%. GST is also levied on services such as telecom, insurance, and banking at the rate of 18%.
It’s important to note that GST rates are subject to change and may vary depending on the type of goods or services being supplied. It’s always a good idea to check the current GST rates before making a purchase or offering a service.
You can see the tax rates for all the products here: https://cbec-gst.gov.in/gst-goods-services-rates.html
Check out the GST calculator, which comes in handy to calculate the Goods and Service Tax using different slabs.
What is GSTIN?
GSTIN is a unique identification number given to each GST taxpayer. To verify a GSTIN number, a person who has a GST number can log onto the GST portal.
What is the GSTN (Goods and Service Tax Network)?
The Goods and Service Tax Network (or GSTN) is section 8 (non-profit), non-government, private limited company. GSTN is a one-stop solution for all your indirect tax requirements. GSTN is responsible for maintaining the Indirect Taxation platform for GST to help you prepare, file, rectify returns and make payments of your indirect tax liabilities.
Penalty for Failure to Register for GST
As per the Section 122 of the CGST act, in India, there is a direct penalty for all those taxable persons who fail to register for GST online.
GST Penalties & Interest
Late Filing GST penalties for late filing is 100 for each day, and 2200 for each CGST and SGST. It can go up to a maximum of *5,000 along with payment of tax at 18%/annum
Not Filing
In case, one fails to file any one of the GST, then one cannot file the subsequent forms without filing the pending one
For the 21 offences
With no intention of fraud or tax evasion, a penalty of 10% or a minimum of *10,000 and jail term for several years, depending on the tax amount
Voluntary Registration Under GST (for Companies With A Turnover Below ₹20 Lakhs)
Any small business with turnover less than ₹ 20 lakh can voluntarily register for GST even though it is not compulsory by law. Voluntary GST registration online has its own advantages and some of them are:
GST Return Filing
GST return filing is the process of submitting the details of sales, purchases, and taxes collected and paid by a registered taxpayer to the government. In India, GST return filing is mandatory for all registered taxpayers who are registered under GST, regardless of whether they have made any sales or purchases during the period for which the return is being filed.
For filing a GST Return, you need to have GST compliant sales and purchase invoices attached.
How Can We Help You – Why Choose us?
Some of the best reasons to choose us are:
Our legal representatives are available to explain the whole online gst registration process and clear any queries you may have.
Although the GST portal has a user-friendly interface, the GST Forms have a lot of complex fields. Hence, it is highly recommended that you seek the help of a professional for submitting the application, the required procedures, filing your returns and completing other formalities in the portal.
The GST Glossary
GST – GST Stands for Good and Service Tax
TRN – Temporary Registration Number – It is a unique 15-digit reference number generated when you have finished filling Part-A of the GST application and have validated your mobile number & email id.
ARN – Application Reference Number – It is the number you get after filing the GST application and you can use it to check your application details.
DSC – Digital Signature Certificate – It is a certificate that acts as proof of the identity of individuals in digital space and protects data.
SGST – State Goods and Services Tax – A part of GST which is levied by the State Government.
CGST – Central Goods and Services Tax (CGST) – A part of GST which is levied by the Central Government.
IGST – Integrated Goods and Services Tax (b>IGST) – It is a type of GST paid in the case of interstate supply of goods and services.
UGST – Union Territory Goods and Services Tax (UTGST) – A part of GST which is levied by the Union Government.
GSTIN – Goods and Services Tax Identification Number/GST registration number is a unique 15-character identity number given to the businesses that register for GST.
GSTR – GST Return (GSTR) is a document capturing the details of the income, which a taxpayer is supposed to file with the authorities to calculate his tax liability. There is a total of 11 types of GST returns.
GSTN – Goods and Services Tax Network (GSTN) is a non-profit, public-private partnership company that provides IT infrastructure and services for the implementation of GST.
ITC – Input tax credit [ITC] is the credit a taxable person receives for paying input taxes towards inputs used for his business.
HSN Code – HSN code is a 6-digit uniform code that classifies 5000+ products and is accepted worldwide. HSN stands for Harmonised System of Nomenclature.
SAC Code – SAC code is a code used to classify services under GST. Each service has a unique SAC code.
Reverse Charge – Reverse charge is when the liability to pay tax is on the recipient of goods instead of the supplier (which is the norm). However, this only applies to special categories of supply.
Aggregate Turnover – Aggregate turnover is the total value of all taxable supplies and it is used to determine the threshold for GST.
Taxable Person – A taxable person is any individual engaged in economic activity in India and who is or is required to be registered under GST.
Mixed Supply – Mixed supply is when two or more individual supplies of goods and/or services made together by a taxable person for a single price (when it does not form a composite supply).
Composite Supply – Composite supply is when a supply consists of two or more goods and/or services, which are naturally bundled and provided together, where one is the principal supply.
Continuous Supply – Continuous supply is when the supply is provided at a specific interval (eg. weekly & monthly) and the payments are made accordingly.
GST Compliance Rating – GST Compliance Rating is a score between [0 -10] assigned to all the taxpayers, that depicts their GST compliance.
Assessment – Assessment is the process to determine the tax liability. There are 6 types of assessment in GST.