GST Registration

GST refers to Goods and Services Tax which subsumes all taxes such as Sales tax, Service tax, Excise duty etc. into GST. GST registration is required primarily if your annual sales are more than Rs. 40 Lakh.

Documents Required for Goods and Service Tax Registration

Proprietor

What Is In Our Package?

Benefits of GST Registration

Single Tax

After the coming of GST, all central and state government taxes have been subsumed under one tax i.e. Goods and Service Tax GST. It has resulted in removing the cascading effect of other 16 Central and State Taxes. Trade barriers will come to cease with the implementation of GST.

A Common Market

Earlier, goods were sold within the state in order to avoid paying Central Sales Tax (CST). This Central Sales Tax (CST) is not credited at the time of manufacturing or course of trading of goods. There will be a common single market if there will be no CST and entry tax. The products of good quality which are being manufactured in one part of the country will be able to find more customers as compared to the goods which are manufactured in the farthest part of the country because there will be no Central Sales Tax (CST) and entry tax.

Eliminating The Difference Between Goods and Services

In some cases, goods and services are treated separately. With the coming of GST, all controversies related to the difference have been eliminated.

There Will Be No Entry Tax

With the elimination of entry tax, it will be a great boon for the movement of goods by road. From the records, it has been reported that India’s long line of vehicles carrying good is taxed around 60 percent of the time. This leads to delaying of goods at destinations.

Invoicing Will Be Simpler

Earlier, the invoices were detailed since there were many taxes written separately for one transaction. But with the implementation of GST, only one rate will be written in the invoices.

The Increase in Credits.

Under GST, Input Tax will cover any goods or services used by the company if the business gets extended, which will widen the ambit of input GST credits. This will result in removing the requirement for establishing the direct nexus of input or input services with the final product or service provided by the company. The unavailability of credit towards excise duty, VAT on goods and service tax on certain services in the earlier tax regime added to the cost of running a business. This will be avoided under GST when there is an increase in credits for e-commerce operators and sellers.

GST Registration FAQs

What is the time limit for taking registration under GST?

An entity liable to be registered under GST should apply for registration under GST within 30 days from the date on which the entity becomes liable to register for GST. Casual taxable persons and non-resident taxable persons are required to be registered under GST, prior to commencing business.

Can a business operate across India with one GST number?

No. An entity operating in multiple states will have to get registered separately for each of the States from where taxable supply of goods or services is made.

Can entities with VAT or service tax apply for new GST certificate?

Procedure has been provided in the GST portal for migration of existing service tax or VAT or central excise to GST. Entities registered under old tax laws must complete GST migration mandatorily to obtain GST.

Can I register for GST voluntarily?

Yes. Any entity wishing to claim input tax credit can registered voluntarily, even if not liable to be registered. After registration, voluntarily registered entities will also have to comply with regulations as applicable to a normal taxable person.

Is PAN mandatory for registerting under GST?

Yes. PAN is mandatory for normal taxpayers and casual taxable persons to be registered under GST. However, PAN is not mandatory for a non-resident taxable person for obtaining registration.

What is the validity of GST certificate?

Once GST certificate is granted, the registration is valid until its surrendered or cancelled or suspended. Only GST certificate issued to non-resident taxable person and casual taxable person have a validity period.

Can an unregistered business collect GST from customers?

No, an unregistered person without GSTIN cannot collect GST from customers or claim input tax credit of GST paid.

How long does it take to obtain GSTIN?

After submission of GST application with all the required documents, GSTIN is alloted within 7 working days.

What is aggregate turnover?

Aggregate turnover is the aggregate value of all taxable supplies, exempt supplies, export of goods or services or both and inter-State supplies of a person having same PAN. Aggregate turnover does not include CGST, SGST, IGST and GST cess.

How to get GST certificate?

GST certificate is provided by the Government only in soft-copy format. Once GSTIN is allotted, GST certificate can be downloaded from the GST Portal at anytime by the taxpayer.

From which state the taxable person should obtain registration?

Businesses or entities supplying goods or services must register for GST from every State from where taxable supply of goods or services or both is made.

Who is primary authorized signatory?

Primary authorized signatory is the person who is primarily responsible to perform action on the GST System Portal on behalf of the taxpayer. It can be the promoter of the business or any person nominated by the promoters of the business.