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About GST Registration

Goods and Service Tax i.e. GST is the biggest tax reform in India, tremendously improving ease of doing business and increasing the taxpayer base in India by bringing in millions of small businesses in India. By abolishing and subsuming multiple taxes into a single system, tax complexities would be reduced while tax base is increased substantially. Under the new GST regime, all entities involved in buying or selling goods or providing services or both are required to obtain GST registration. Entities without GST registration would not be allowed to collect GST from customer or claim input tax credit of GST paid or could be penalised. Further, GST registration is mandatory once an entity crosses the minimum threshold turnover of starts a new business that is expected to cross the prescribed turnover.

As per the GST Council, entities in special category states with an annual turnover of Rs.10 lakhs and above would be required to obtain GST registration. All other entities in rest of India would be required to obtain GST registration, if annual turnover exceeds Rs.20 lakhs. There are also various other criterias, that could make an entity liable for obtaining GST registration - irrespective of annual sales turnover (Criteria for GST registration is provided below). Entities required to obtain GST registration as per regulations must file for GST registration within 30 days from the date on which the entity became liable for obtaining GST registration.

Advantages of Goods & Services Tax (GST)

Unified Platform

With the implementation of GST in India, the indirect taxes would be streamlined and standardized. Under GST regime, businesses would no longer have to obtain multiple VAT registration in different States or obtain a separate VAT and Service Tax registration. A single GST registration would be sufficient across India for selling or purchasing goods or providing services.

Subsuming of Taxes

subsumes various other taxes like Central Sales Tax, Additional Customs Duty, Purchase Tax, Luxury Tax, etc., Hence, under GST, many of the taxes in existence today would be subsumed and made into one tax. This would make tax collection and compliance easy for businesses across the country.

Lower Taxes

Currently in some states under the VAT regime, businesses are required to comply with VAT regulations once they cross an annual turnover of Rs.5 lakhs. Under GST regime, GST liability accrues only if an entity crosses an annual turnover of Rs.10 lakhs in northeast or hill states, whereas for rest of India, the threshold is set at Rs.20 lakhs.

Ease of Doing Business

Currently, many businesses like restaurants, computer sales and services businesses have to comply with both VAT and Service Tax regulations. This creates a compliance burden on the business, as they have to calculate taxes for the transaction based on different rates for different items. Under GST, the distinction between goods and services will be gone – making doing business easy.

Larger Tax Base

GST is expected to increase the tax base in India significantly. Hence, the overall tax liability for businesses is expected to reduce overtime, as more and more businesses become compliant. Further, GST will use the latest in technology, including data from Aadhaar database, PAN database, etc., to make GST registration and GST return filing process, as seamless as possible.

Success is focusing the full power of all you are on what you have a burning desire to achieve.

DOCUMENTS REQUIRED FOR GST Registration

Private Limited Companies are regulated by the Companies Act, 2013 & registration is granted by the Registrar of Companies, Ministry of Corporate Affairs and therefore, there is uniform process and documentation. Below is the list of documents and information required for Private Limited Company registration: -

Sole Proprietorship Firm

Passport photo
PAN Card
Cancelled Cheque
Aadhaar Card
Place of business proof

Partnership Firm

Passport photo of all partners
PAN Card of firm and all partners
Cancelled Cheque
Aadhaar Card of all partners
Place of business proof

Limited Liability Partnership

COI
Passport photo of all partners
PAN Card of LLP and all partners
Cancelled Cheque
Aadhaar Card of all partners
Place of business proof

Pvt. Ltd. Company or One Person Company

COI, MOA & AOA
Passport photo of all Directors
PAN Card of LLP and all Directors
Cancelled Cheque
Aadhaar Card of all Directors
Place of business proof
Board Resolution

Who all need to get GST Registration?

Any individual or entity that fulfils any of the following conditions needs to get GST Registration:

Having an annual aggregate turnover from operations in the state which is above the threshold limit of 20 Lakhs (Rs. 10 Lakhs for North-Eastern States)
Currently registered under any of the existing indirect tax regimes (VAT, Excise Laws, Service Tax Laws) irrespective of the threshold limit
Having operations in multiple states
Having multiple business verticalsin one state
Making any Inter-State taxable supply
Casual taxable persons & Non-resident taxable persons
Required to pay tax under Reverse Charge
Required to deduct tax at source
Agents of a supplier
Input Service Distributor
Supplying goods or services through E-commerce Operator
E-commerce Operator/ Aggregator who supplies goods or services under his brand name (e.g. Flipkart, Amazon, Ola)
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

Documents Required for GST Registration

The following documents are required for GST Registration.

1. PAN Card of the Business or Applicant

GST registration is linked to the PAN of the business. Hence, PAN must be obtained for the legal entity before applying for GST Registration.

2. Identity and Address Proof along with Photographs

The following persons are required to submit their identity proof and address proof along with photographs. For identity proof, documents like PAN, passport, driving license, aadhaar card or voters identity card can be submitted. For address proof, documents like passport, driving license, aadhaar card, voters identity card and ration card can be submitted.

Proprietary Concern – Proprietor
Partnership Firm / LLP – Managing/Authorized/Designated Partners (personal details of all partners are to be submitted but photos of only ten partners including that of Managing Partner are to be submitted)
Hindu Undivided Family – Karta
Company – Managing Director, Directors and the Authorised Person
Trust – Managing Trustee, Trustees and Authorised Person
Association of Persons or Body of Individuals –Members of Managing Committee (personal details of all members are to be submitted but photos of only ten members including that of Chairman are to be submitted)
Local Authority – CEO or his equivalent
Statutory Body – CEO or his equivalent
Others – Person(s) in Charge

3. Business Registration Document

Proof of business registration must be submitted for all types of entities. For proprietorships there is no requirement for submitting this document, as the proprietor and proprietorship are considered the same legal entity. In case of partnership firm the partnership deed must be submitted. In case of LLP or Company, the incorporation certificate from MCA must be submitted. For other types of entities like society, trust, club, government department or body of individuals, registration certificate can be provided.

FAQ

Who is exempted from requirement to get GST registration?

Agriculturists supplying produce out of cultivation land
Persons falling within Threshold Exemption Limit
Persons making Nil-Rated/ Exempt supplies of goods and services
Persons making Non-Taxable/ Non-GST supplies of goods and services
Activities that are neither Supply of Goods nor Services
Persons making only supplies covered under reverse charge

If have business establishments in different states can I apply for a central GST registration?

No, there is no concept of a central GST registration. Every person will have to obtain a separate registration for every state in which he has a business establishment whether by same name or a different name. Even if person is having same PAN number and has operations in different states, every operational unit will have to apply for separate registration.

If I have multiple business units within the same state will I be liable to get separate GST registrations?

Yes, business units even though registered with the same name and under the same PAN will have to apply for separate registration for each such unit within the same state.

What is composition scheme?

Composition scheme is introduced for small taxpayers to reduce the compliance burden on them

File summarized returns on a quarterly basis instead of multiple monthly returns
Pay tax only to a maximum of 2% for manufacturers, 5% for restaurant service sector and 1% for other suppliers
Cannot collect any tax from or issue tax invoice to customers
Cannot avail input tax credit

Am I eligible for registration under composition scheme?

Only those persons who fulfill all the following are eligible to apply for composition scheme

deals only in the intra-state supply of goods (or service of only restaurant sector)
does not supply goods that are not leviable to tax
has an annual turnover below Rs. 75 Lakhs (Rs. 50 Lakhs for North Eastern States) in preceding financial year
shall pay tax at normal rates in case he is liable under reverse chargemechanism.
not supplying through operator
not a manufacturer of – ice cream, pan masala or tobacco (and its substitutes)

How can I register for the Composition Scheme?

You need to file an online application to opt for Composition Scheme. Taxpayers who can opt for this scheme can be categorized as below:

Migrated Taxpayers: Any taxpayer who has migrated from earlier laws and has been granted provisional registration certificate can file an application under Form GST CMP-01 and further details in Form GST CMP-03 within 30 days after 1^st July 2017.
New Taxpayers: Any person who is liable to register under GST Act after 1^st July 2017 can file Form GST REG-01 and choose his option to pay composition amount in the New Registration application.
Existing Taxpayers: Any taxpayer who is registered as normal tax payer under GST regime shall file an application under Form CMP-02 to opt for Composition Scheme at least 7 days prior to the commencement of financial year for which the option to pay tax under composition is exercised.

What is the role of provisional ID issued?

Provisional ID will be your GST Identification Number (GSTIN).

What if I am required to register under TDS and TCS Provisions?

Due to deferment in notifying the applicability of TDS and (e-commerce operator) provisions under GST, Registration for the same will open from 25th July 2017.

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