About GST
GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage. Businesses must register for GST if their annual turnover exceeds Rs. 40 lakhs for goods, Rs. 20 lakhs for services, or Rs. 10 lakhs in some cases. This registration provides a GST Identification Number (GSTIN).
GST registration is the process through which a business obtains a unique Goods and Services Tax Identification Number (GSTIN) from the government. Registration is mandatory for businesses whose turnover exceeds the prescribed threshold limit, as well as for certain other categories of businesses. GST registration enables a business to collect GST from customers, claim input tax credit, and comply with legal obligations under the GST Act. It also ensures smooth business operations, particularly for those who wish to expand their market reach or do interstate trade.
Operating without GST registration when turnover exceeds the limits is an offense that may result in significant penalties. Compliance with these regulations is crucial to avoid legal issues.
At Legal Helpzyn, we provide expert assistance for GST registration, ensuring a smooth process from start to finish. We help you obtain your GSTIN quickly, ensuring compliance and eligibility for input tax credits. Trust us for hassle-free GST registration.
GST Registration with Legal Helpzyn
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GST Registration
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GST registration provides a unique identification number for businesses to collect and pay GST.
What is GSTIN?
GSTIN stands for Goods and Services Tax Identification Number. It is a unique 15-digit alphanumeric code assigned to every taxpayer registered under the Goods and Services Tax (GST) system in India. The GSTIN is used to identify taxpayers and is required for filing GST returns, paying taxes, and conducting business activities. The first two digits of the GSTIN represent the state code, followed by a 10-digit PAN (Permanent Account Number) of the business, and the last three digits are for identifying the taxpayer’s registration type.
What is GSTN?
GSTN stands for Goods and Services Tax Network. It is a non-profit organization that provides the technological infrastructure for implementing the Goods and Services Tax (GST) in India. GSTN facilitates the registration of taxpayers, filing of returns, and payment of taxes, ensuring smooth compliance and management of the GST system.
What is GST Return?
A GST return is a document filed by taxpayers in India to report sales, purchases, and GST owed. It details output tax (from sales) and input tax (from purchases) and is essential for tax compliance.
Benefits of having GST Number?
Having a GST number offers several benefits, including:
- Legal Recognition: Establishes your business as a legitimate entity.
- Input Tax Credit: Allows claiming input tax credit on purchases, reducing overall tax liability.
- Easier Compliance: Simplifies tax filing and compliance processes.
- Interstate Trade: Facilitates seamless trade across states without additional taxes.
- Business Credibility: Enhances credibility with customers and suppliers.
- Access to Online Services: Enables access to government services and online platforms for filing returns.
Document requirement for GST Registration
- PAN card of the owner
- Aadhar card of the owner
- Photograph of the owner (in JPEG format, maximum size 100 KB)
- Bank account details*
- Address proof**
- PAN cards for all partners, including the managing partner and the authorized signatory.
- Copy of partnership deed
- Photograph of all partners and authorised signatories (in JPEG format, maximum size 100 KB)
- Address proof of partners (Passport, driving license, Voters identity card, Aadhar card etc.)
- Aadhar card of authorised signatory
- List ItemProof of appointment of authorized signatory
- In the case of LLP, registration certificate / Board resolution of LLP
- Bank account details*
- Address proof of principal place of business
- PAN card of HUF
- PAN card and Aadhar card of Karta
- Photograph of the owner (in JPEG format, maximum size 100 KB)
- Bank account details
- Address proof of principal place of business
- PAN card of the Company
- Certificate of incorporation given by Ministry of Corporate Affairs
- Memorandum of Association / Articles of Association
- PAN card and Aadhar card of authorized signatory. The authorised signatory must be an Indian, even in case of foreign companies/branch registration
- PAN card and address proof of all directors of the Company
- Photograph of all directors and authorised signatory (in JPEG format, maximum size 100 KB)
- Board resolution appointing authorised signatory / Any other proof of appointment of authorised signatory (in JPEG format / PDF format, maximum size 100 KB)
- Bank account details
- Address proof of principal place of business
Common GST Violations and Their Penalty Consequences include:
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Frequently Asked Questions (FAQs)
1. What is GST registration?
GST registration is the process of obtaining a unique Goods and Services Tax (GST) identification number, which enables businesses to collect and remit GST on sales, and claim input tax credit.
2. Who is required to register for GST?
Businesses with an annual turnover exceeding the prescribed threshold limit (Rs. 40 lakhs for goods and Rs. 20 lakhs for services) are required to register for GST. Certain businesses, regardless of turnover, must also register.
3. What are the benefits of GST registration?
- Legal recognition for your business.
- Eligibility to collect GST from customers.
- Claim input tax credit on purchased goods and services.
- Expansion opportunities across India with seamless inter-state business operations.
4. What documents are required for GST registration?
- PAN card of the business.
- Proof of business address (e.g., rent agreement, utility bill).
- Aadhaar card of the proprietor/partners.
- Bank account details.
5. What is the validity of GST registration?
GST registration remains valid until the business cancels it or is deregistered due to failure to meet compliance requirements or change in business status.
6. Can a business voluntarily register for GST?
Yes, businesses with a turnover below the threshold can voluntarily opt for GST registration to avail of the benefits like input tax credit.
7. What is the process for cancelling GST registration?
If your business is no longer required to be registered under GST or has ceased operations, you can apply for cancellation through the GST portal. Proper documentation and reasons must be provided.
8. How long does it take to get GST registration?
Once all necessary documents are submitted, GST registration can take up to 7 to 10 working days, provided there are no issues with the application.
9. Is GST registration mandatory for all types of businesses?
No, GST registration is mandatory for businesses exceeding the prescribed turnover threshold, or those engaged in inter-state supply of goods or services, e-commerce operators, or certain other specified categories.
10. Do I need GST registration for online selling?
Yes, if you are selling goods or services online and your turnover exceeds the prescribed limit, you must register for GST, even if your business is based in a different location.
11. Can a business have multiple GST registrations?
Yes, businesses with multiple branches or units in different states must obtain separate GST registrations for each state. However, businesses in the same state can operate under a single GST registration.
12. What happens if I don’t register for GST when required?
Failing to register for GST when required can lead to penalties, interest on unpaid taxes, and legal actions. It is essential to comply with the GST regulations to avoid these issues.