GST Registration

 

GST Registration

As per GST jurisdiction, any business operations whose annual turnover exceeds Rs 40 lakhs must register as a separate taxable provision. This procedure is called GST registration. It takes around 2-6 working days to get the GST registration. As per GST jurisdiction, if you are doing any business without GST registration, it is considered an offense.


What is GST Registration?

GST Registration introduced in India in July 2017. As per the act, it's a mixture of indirect tax like VAT & Service tax for the same. It is required when your turnover or sales cross quite 40 lakh rupees during a year ( 10 lakh for NE * Hill States) as per the newest amendment from 1st April 2019.

For some specific business, it's mandatory registration without crossing the turnover limit. Forex, if you're running an e-commerce business then you've got to need the GST Registration from the starting of business. We at kanakkupillai help you Apply GST Registration Online which takes only 2-3 working days and got the verified GST Certification with login details in your Email Inbox.

Who is eligible for GST Registration Online?

The person who is registered under Pre-GST law such as Excise, VAT, Service Tax Businesses that hold turnover exceeding more than Rs. 40 Lakhs and Rs. 20 Lakhs for the North Eastern States, Himachal Pradesh, Jammu and Kashmir, and Uttarakhand. Non-Resident Taxable person and  Taxable person Input Service Distributor and Agents of Supplier Individuals who are paying taxes as per the Reverse Charge Mechanism. Individuals who supply via e-commerce aggregator Individual supplying online database and knowledge access from a location which is outside India to a private in India.

The types of GST registration varies counting on the type of business undertaken and therefore the supply location of products or services.

The following documents must be submitted by regular taxpayers applying for GST registration.

1.PAN card of the business

GST registration is linked to the PAN of the business. Hence, PAN must be obtained for the legal entity before applying for GST Registration.

2.Identity proof along with photographs

PAN, passport, driver's license, aadhar card, or voter’s identity card can be submitted as identity proof. Photographs of the promoters/ proprietors also got to be submitted.

3.Address proof of promoter

Documents like passport, driving license, aadhaar card, voters card, and card are often submitted as address proof.

4.Business registration document

Proof of business registration must be submitted for all kinds of entities. There is no requirement of submitting this document for a proprietorship because the proprietor and therefore the entity are essentially considered equivalent. In the case of a partnership firm, the partnership deed must be submitted. In case of LLP or Company, the incorporation certificate from MCA must be submitted. The other sorts of entities like society, trust, club, department, or body of people must provide the registration certificate.

5.Business location proof

Address proof must be provided for all places of companies mentioned within the GST registration application. The following documents are acceptable as address proof for GST registration.

Own property- Any document in support of the ownership of the premises just like the latest land tax receipt or the municipal khata copy or copy of the electricity bill.

Rented or leased property- a replica of a legitimate rental agreement with any document in support of the ownership of the premises of the lessor just like the latest land tax receipt or the municipal khata copy or copy of the electricity bill. If the rental agreement or lease deed is not available, then an affidavit to that effect along with any document in support of the possession of the premises like a copy of the electricity bill is acceptable.

SEZ premises- If the principal place of business is found in an SEZ or the applicant is an SEZ developer, necessary documents/certificates issued by the govt of India are required to be uploaded.

All other cases- a replica of the consent letter of the owner of the premises with any document in support of the ownership of the premises of the consenter like the municipal khata copy or the electricity bill copy. The same documents are often uploaded for shared property also.

 

 

6.Bank account proof

Scanned copy of the primary page of the bank passbook or the relevant page of a statement or scanned copy of a canceled cheque containing the name of the proprietor or the business entity, bank account no., MICR, IFSC, and branch details including code needs to be uploaded.

Preparation of GST application

One of our GST representatives will collect all the specified documents and process the GST application through the iCFO platform.

Application Filing

Once all the documents are collected, the appliance is going to be processed and filed. Then immediately the ARN number will be issued.

GST Registration Certificate

The GST registration certificate and GSTIN are going to be issued upon verification of GST application and other mandatory documents by the GST officer. Be aware that no hard copies of the certificate are going to be issued and therefore the GST registration certificate is often downloaded from the GST Portal.

Penalties For Failure To GST Registration

As per Section 122 of the CGST Act, in India, there's an immediate penalty for all those taxable persons who fail to register for GST.

Voluntary Registration Under GST (for Companies With A Turnover Below Rs.20 Lakhs)

Any small business with a turnover of 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 a few of them are:

Take input credit: In GST, there is a flow of input credit right from manufacturers of the goods to the consumers, across the country. Input credit means a taxpayer while paying tax on output can deduct the tax that has already been paid on inputs and pays only the remaining amount. Voluntarily registered businesses can increase their margins and profits through this.

Do inter-state selling with no restrictions: SMEs can increase the scope of their businesses and find prospective customers and explore online platforms

Register on e-commerce websites: SMEs can widen their market by registering through e-commerce sites.

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