GST Registration with Bizhub
GST is a product of the biggest tax reform in India that has tremendously improved the ease of doing business and increased the taxpayer base in India by including millions of small businesses under one uniform tax system
GST Registration for Proprietorship or Partnership or LLP or Private Limited Company
GST is a product of the biggest tax reform in India that has tremendously improved the ease of doing business and 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.
GST Registration is applicable on all goods and services except Petroleum products as of now. Goods & Service Tax (GST) is a consolidated tax, which essentially means that State and Central Indirect taxes have been merged. Entire country now operates under a uniform tax system. It now replaces service tax, excise, VAT, entertainment tax, luxury tax, octroi, CST etc.
GST Registration Process in India is completely online. It requires no manual intervention or no physical paper submissions. A very simple procedure has been prescribed for GST Registration.
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.
Aadhaar Card is mandatory to get GST registration:
A new system for new GST registration has been introduced and activated from 21st August 2020 where the Aadhaar card is now mandatory for GST registration. That means, the applicant who are seeking for GST registration now will be given an option to select if he wishes to authenticate Aadhaar or wishes to opt for physical verification. If the applicant opts for Aadhaar authentication for his GST registration, then the applicant will get his / her GST registration in just three days.
Procedure to obtain GST registration
How to obtain GST registration?
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What are the documents required to obtain GST registration?
The following documents must be submitted by regular taxpayers applying for GST registration.
PAN Card of the business
PAN of the applicant
Bank Account statement or cancelled cheque
Identity proof of the applicant along with the photographs
Address proof of the applicant
Digital Signature Certificate
Business registration document or the Certificate of Incorporation.
Business location proof
Letter of authorization or Board Resolution for the authorized signatory
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Benefits of GST registration
What are the benefits of GST Registration?
GST registration has various benefits here we have listed some of them:
What are the different types of GST Registration?
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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.
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Composition Taxpayer: To register as a Composition taxpayer the individual is required to enrol 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.
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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 be required to match the active registration periods. The registration is active for 3 months.
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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.
Who is eligible to obtain GST registration?
- 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.
FAQs on GST Registration
All businesses that successfully register under GST are assigned a unique Goods and Services Tax Identification Number also known as GSTIN (GST Identification Number).
Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)
•Businesses with turnover above the threshold limit of Rs. 40 Lakhs (Rs. 10 Lakhs for North-Eastern States, J&K, Himachal Pradesh and Uttarakhand)
•Casual taxable person / Non-Resident taxable person
•Agents of a supplier & Input service distributor
•Those paying tax under the reverse charge mechanism
•A person who supplies via e-commerce aggregator
•Everye-commerce aggregator
• The person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person
Yes, the process for registration of GST is completely online and paperless. You don’t have to move out of your home or office. We do all the paperwork and submit an application online.
The “Aggregate Turnover” means total turnover of a person having the same PAN in respect of the following:
(i)All taxable supplies including interstate supplies
(ii)Exemptsupplies
(iii) Exports of goods and/or service
The above shall be computed on all India basis and excludes taxes charged under the CGST Act, SGST Act and the IGST Act.
Yes, in that case, GSTIN is required to be obtained for each state separately. We have special prices for multi-state registrations. You may specifically mention this to your compliance manager to avail benefits.
Yes, it is mandatory to obtain GSTIN in case of certain categories of persons. The major categories are given below:
(i)Persons making any Inter-State taxable supply of Goods / Services
(ii) Persons who are required to pay tax under Reverse Charge Mechanism (RCM) or Persons who are required to deduct tax under GST (TDS)
(iii) Persons who supply goods and/or services on behalf of other registered taxable persons whether as an agent or otherwise
(iv)Input service distributor
(v) Casual taxable persons or Non-resident taxable persons
Before you apply for a GST Registration as a normal taxpayer, it is mandatory to obtain a PAN.
Yes surely, Government grants some special exemptions for small businesses like yours. You may opt for composition scheme under which you will have to pay GST @1% only. If you are a restaurant, the rate is 5%. However, you cannot claim GST Credit if you opt so. You need to file only 1 return per quarter. This scheme is not applicable if you are –
•Service providers
•Inter-state sellers
•E-commerce sellers
•Supplier of non-taxable goods
• Manufacturer of Notified Goods
No. As an unregistered dealer, you cannot do so. You will have to register yourself under GST to be able to claim ITC.
Upon successful submission of application, you will obtain GSTIN usually within 4-6 working days.
Once GST certificate is granted, the registration is valid until it is surrendered or cancelled or suspended. Only GST certificate issued to a non-resident taxable person and a casual taxable person has a validity period.
Registration under GST is PAN based. That means one registration for one PAN holder. Your partnership firm will have a separate PAN which is unique. And you will also hold your own PAN for you as individuals.
So, both firm and individual business of the partners will have separate registration under GST.
BizHub provides its across India. You can obtain GST registration services in Ahmedabad, Mumbai, Pune, Bangalore, Chennai, Delhi, Kolkata, Kanpur, Nagpur, Jaipur or any other cities easily with us.
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