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What is GST?

GST is a product of the biggest tax reform in India that has tremendously improved the ease of doing business and also increased the taxpayer base in India by including millions of small businesses under one uniform tax system. The tax complexities have reduced considerably due to the introduction of GST in India. As multiple tax systems are abolished and subsumed into a single, simple tax system under GST.

The GST regime mandates that all the entities that are involved in buying or selling the goods or providing services or both are required to register and obtain the GSTIN.

What is GSTIN?

GSTIN is a unique 15 digit code that is allocated to every taxpayer that has valid GST registration in India. It is a unique code that is allocated to every taxpayer which is given based on the state and the PAN. GSTIN is mandatory for businesses when the annual turnover is exceeding Rs.20 lakh. If the business is carrying out a business e-commerce platform it is necessary to obtain the GSTIN.

GST registration is mandatory once the entity is crossing a minimum threshold turnover or when the individual starts a new business that is expecting to cross the prescribed turnover.

Who is eligible to obtain GST registration?

Businesses are required to get a GST registration if they fall in the below categories.

Aggregate turnover

A service provider that is providing services valuing more than Rs.20 Lakhs aggregate in a year is needed to get GST Registration. Whereas an entity that is engaged exclusively in the supply of the goods whose aggregate turnover crosses Rs. 40 lakh is required to get GST registration mandatorily.

Interstate Business

An entity should get GST registration in India if they are involved in supplying goods from one state to another.

E-commerce platform

Any individuals that supply goods or services through the E-commerce platform should get the GST registration in India. The individuals shall register under GST irrespective of the turnover. To commence with an E-commerce business it is necessary to obtain the GST registration.

Casual taxable persons

An individual who is undertaking the supply of Goods or services seasonally or intermittently through a temporary stall or shop is required to get GST registration. Irrespective of the turnover the individual should apply for GST registration

Voluntary registration

An entity can obtain GST registration voluntarily, earlier an entity that has a voluntary GST registration was not able to surrender GST registration for up to a year. After the recent revisions, voluntary GST registration can be surrendered by the applicant at any time.

What are the different types of GST Registration?

Mentioned below are the different types of GST registration:

Normal Taxpayer

This category of GST registration in India applies to the taxpayers that are operating a business in India. Taxpayers that are registering for normal taxpayers do not require to deposit and are also provided with unlimited validity dates.

Casual taxable person

A taxpayer that is establishing a stall or a seasonal shop should register under the casual taxable person. Here the taxpayer is required to deposit an amount equal to the GST liability. The liability should is required to match the active registration periods. The registration is active for 3 months.

Composition Taxpayer

To register as a Composition taxpayer the individual is required to enroll under the GST composition scheme. The taxpayers enrolled under the composition scheme can pay a flat GST rate. But the taxpayers opting for the composition scheme are not allowed to claim the input tax credit.

Non-resident Taxable Person

The category of the non-resident taxable person applies to the individuals that are located outside India. To register as a casual taxable person the taxpayer is required to deposit an amount that is equal to the amount of the GST liability. The liability is required to match against the active registration periods. The registration for the Non-resident taxable person is valid for 3 months.

Documents Required For GST Registration

Electricity Bill

Latest electricity bill for the premises where GST registration is applied for.

Telephone Bill

Latest telephone bill for the premises where GST registration is applied for in some states.

Property Tax Receipt

Latest property tax receipt for the premises where GST registration is applied for.

Lease / Rent Agreement

If the property is rented or leased, lease or rental agreement is required.

Passport Size Photo

Passport size photo of the authorised signatory under GST.

Partnership Deed

If applicant is a Partnership Firm, Partnership Deed must be submitted.

Incorporation Certificate

If applicant is a Company or LLP, Partnership Deed must be submitted.

PAN Card

PAN card of the authorised signatory under GST.

Aadhaar Card

Aadhaar card of the authorised signatory under GST.

Consent Letter

If the property is taken by a person without rental agreement.

Client Testimonials

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What people are saying about our services.

Wonderful experience and a very professional bunch of people. I extremely happy for their support and timely guidance ..keep the good work rolling!

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I have done my company Registration and post compliance formalities though this firm and I am very pleased with the services.

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Really it was good experience, company registration done in 10 days and cost is also efficient less compared to others.

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