GST Stands for Goods & Services Tax which applies to all the India manufacturers, service providers and traders for performing commerce activity, i.e. sale and purchase of the Goods or services. It is a tax in which a variety of Central taxes like Service Tax, Excise Duty, CST and state taxes like Entertainment Tax, Luxury Tax, Octroi, VAT are absorbed in one tax called GST. You’ll have to register for GST in order to do business. Groom tax helps you with your GST registrations.
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Registration is the first requirement for compliance of any tax system. After registration under the GST Law business entity will be allotted a a unique alphanumeric code from the concerned GST department so that the person can collect the tax on behalf of the Government and can avail input tax credit of the GST paid on its inward supplies. Without registration, a person can neither collect tax nor avails any ITC of taxes paid by him.
Under GST, tax is leviable on the supply of goods & services. Every person, who wants to supply goods or services under GST, has to register himself under the GST if his aggregate turnover in a financial year crosses the threshold limit prescribed under law. However, the person whose turnover is below the threshold limit, he can also opt for voluntary registration and can transact like the other registered dealer in GST.
Mandatory Registration in below cases:
- Person dealing only in goods and turnover exceeds Rs 40 lakhs in a year
- Person dealing only in services and goods or services both and turnover exceeds Rs 20 lakhs in a year
- Person making any interstate taxable supply of goods.
- Casual taxable person making taxable supply
- Persons who are required to pay tax under RCM basis.
- Electronic commerce operator
- Non-resident taxable persons making taxable supply
- Persons who are required to deduct tax under section 51
- Persons who make taxable supply of goods or services or both as agent on behalf of other taxable persons.
- Input Service Distributor
- Persons who supply goods or services or both through electronic commerce operator.
- Every person supplying OIDAR services from a place outside India to a person in India.
- GST help in promotion of the ‘Make in India’ initiative of the Government by making goods or services competitive in the international markets.
- All taxes paid on the goods or services exported or on the inputs or input services used in the supply of such export goods or services shall be refunded.
- GST will prevent cascading of taxes by providing a comprehensive input tax credit mechanism across the entire supply chain. Such a seamless flow of Input Tax Credit at every stage of supply will support for ease of doing business operations.
List of Documents Required
- PAN, Adhaar card and Photo of Proprietor/Partners/Directors
- Mobile No. and Email Id of Proprietor/Partners/Directors
- Electricity bills with NOC and Rent agreement if rented
- Name of Firm in case of Proprietorship firm
- Certificate of incorporation in case of company/LLP
- Board Resolution/Authority letter for authorized signatory
- Nature of Goods & Services
- Details of additional places, if any
Use your PAN, email id and mobile no. to fill out the details for new registration.
Verify your mobile no. and email id with one time password after PAN verification and submit the same.
After submitting you will get the TRN for login with one time password.
Fill the details in Form REG-01 and attach the required documents and submit the form.
After verification of your all documents, a certificate of registration will be issued within 7 working days.
Note: You have to use PAN and CIN of the corporate debtor for registration application.
You have to declare yourself as Primary authorized signatory.
In case, you apply for new registration with opting in or out from composition levy now, then all GSTINs registered with same PAN will be opted in and out from composition scheme by default.
- Government Department
- Public Sector Undertaking
- Local Authority
- Statutory Body