GST Registration
GST registration is mandatory for businesses in India with an annual turnover exceeding Rs. 20 lakhs. The registration process includes gathering necessary documents, submitting an online application, and paying the applicable fees. Upon completing the registration, you will receive a GST registration certificate from the government. Understanding the GST registration requirements, procedure, and necessary documents is crucial for a smooth and hassle-free process.
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Overview of GST Registration
Advantages of GST Registration
| Authorisation To Collect Tax | Only registered persons can collect GST from customers on the supplies of goods or services or both & subsequently utilize the ITC. |
| Single Platform | With the implementation of GST in India, the indirect taxes are streamlined and standardized. A single GST registration for the respective state(s) in India from where the supply of goods and/or services will be sufficient. |
| One Nation One Tax | GST subsumed various other taxes like Central Sales Tax, Additional Customs Duty, Purchase Tax, Luxury Tax, etc. Hence, under GST, many of the taxes in existence today are subsumed and made into one tax. This made tax collection and compliance easy for businesses across the country. |
| Ease of Doing Business | GST doesn’t make the distinction between goods and services which in turn, leads to relief for the business. Many businesses like restaurants, computer sales, and services businesses need not comply with both VAT and Service Tax. |
| Increase Tax Payers Volume | GST works on the value addition concept and it is the reason that new registrations have come into existence to take benefit of Input Tax in the Transaction chain. GST allows a seamless flow of input tax credits. |
| Lower Taxes | Under the GST regime, GST liability accrues only if an entity crosses an annual turnover of Rs.10 lakhs in northeast or hilly states, whereas, for the rest of India, the threshold is set at Rs.20 lakhs which ultimately leads to lower tax payment. |
Registration Process
#1. Fill GST Enrollment Application
Obtain a provisional ID and password provided to every registered taxpayer.
Once you provide the provisional ID and password, Shlok Tax Wala will log in to the GST Common Portal and fill out the Enrollment Application.
#2: Submission of Enrollment Application
Submit all the required documents to Shlok Tax Wala.
They will sign and submit the Enrollment Application electronically with the necessary attachments.
#3: GST Registration
After the verification of the submitted application, if the details are satisfactory, an Application Reference Number (ARN) will be issued in ‘Migrated’ status.
The status of the provisional ID will change to ‘Active’ on the appointed date, and a provisional registration certificate will be issued.
Required Documents
#1. Provisional ID obtained from the concerned department
#2. Password obtained from the concerned department
#3. Valid email address
#4. Valid mobile number
#5. Proof of constitution of business:
- For partnership: Partnership Deed
- For others: Registration Certificate of the business entity
#6. Photograph of promoters/partners/Karta of HUF
#7. Proof of appointment of authorized signatory
#8. Photograph of authorized signatory
Opening page of passbook or statement containing the following information:
#1. Bank account number
#2. Address of the branch
#3. Address of the account holder
#4. Select transaction details
FAQ's GST Registration:-
Goods and Services Tax (GST) is a comprehensive tax levied on manufacture, trade, and services across India. Effective from 1st July 2017, GST replaced most Centre and State-imposed indirect taxes like VAT, Service Tax, Excise, etc. Goods and Services Tax Identification Number (GSTIN) is a 15-digit state-wise PAN-based number used to identify businesses registered under GST.
GST regulations apply if your annual turnover exceeds Rs. 20 lakhs. However, in North Eastern states (Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura) and hilly regions like Himachal Pradesh, Uttarakhand, Jammu & Kashmir, and Sikkim, the threshold limit is Rs. 10 lakhs.
Yes, PAN is mandatory for GST registration, except for non-resident individuals who can register using alternative documentation.
An existing taxpayer refers to an entity already registered under State or Central laws such as the Value Added Tax Act, Central Excise Act, and Service Tax Act.
Yes, all existing taxpayers registered under specified Acts will be transitioned to GST. Enrolling for GST ensures a seamless transition to the GST regime. Since the data available with various tax authorities may be incomplete, fresh enrolment is necessary. This will ensure the latest taxpayer data is available in the GST database without the need for extensive amendment processes, which are common for updating data under current tax statutes.
Yes, the enrolment application under GST can be rejected if incorrect details are furnished or fake documents are attached. However, the applicant taxpayer will be given a reasonable opportunity to be heard, allowing them to present their viewpoints before a decision is made.
Yes, the mobile number and email address can be changed following the amendment process after the appointed date.
The Provisional Registration Certificate will be accessible for viewing and downloading from the Dashboard of the GST Common Portal on the appointed date. However, it will be available only if the Registration Application was submitted successfully.
The final Registration Certificate will be issued within 6 months of document verification by authorized officials of the concerned Center/State jurisdiction(s) after the appointed date.