Register for GST online and stay ahead on GST Compliance!
GST is a tax registration mandatory for all businesses in India meeting ANY of these conditions:
- Annual Sales greater than Rs. 20 Lakh
- Making sales outside your own state
- E-commerce Seller
The GST (Goods and Service Tax) Bill was approved by Narendra Modi, the Prime Minister of India, in an effort to replace all state or central government-imposed indirect taxes. As a result, it is now compulsory for entities engaging in the supply of goods and services across states to do GST registration online.
The GST bill was recently passed by the Lok Sabha on March 30th and it is going to directly affect everyone in the country. So, what is GST? GST stands for Goods and Services Tax. It will be imposed by the state and central governments and will subsume most of the indirect taxes such as VAT, Service Tax, etc.
Anyone who has a valid PAN is registered under the current Income Tax Law and crosses the turnover GST limit can register for GST. People who have to pay TDS, casual traders, etc., have to register for GST. Existing assesses have to get their provisional ID and password for GST portal from their state’s ACES or VAT website. After they login on to the GST portal, they will have to create a new user ID and password.
Who all need GST Registration?
- Having an annual aggregate turnover from all-India operations which is above the threshold limit of Rs. 20 Lakhs (Rs. 10 Lakhs for the North-Eastern States).
- Currently registered under any of the earlier indirect tax regimes (VAT, Excise Laws, Service Tax Laws) irrespective of the threshold limit.
- Having branches in multiple states or multiple business verticals in one state.
- Making any supply to other states.
- Required to pay tax under Reverse Charge (In case your supplier is not registered under GST).
- Required to deduct tax at source or an Input Service Distributor.
- Agents of a supplier.
- 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.
Benefits of Registration under GST
He is authorized to collect taxes from his customers and pass on the credit of the taxes paid to them.
He can claim Input Tax Credit of taxes paid to his suppliers and can utilize the same for payment of taxes due
Seamless flow of Input Tax Credit from suppliers to recipients at the national level.
What’s included in our package?
- GST Certificate with ARN and GSTIN Number
- GST HSN Codes with Rates
- GST Invoice Formats
- GST Return Filing Software
- GST Invoicing software
Documents Required for Registration
- PAN Card of owner/ directors/ partners.
- Bill of Electricity/ Telephone, Rent Agreement or Letter of Consent (NOC).
- MOA/ AOA or Partnership Deed
- Letter of Authorisation for signatory.
- Bank statement/ Cancelled Cheque.
- Aadhaar Card of owners/ directors/ partners.
Penalties for not Completing GST Online Registration
Offenders who do not pay tax or fail to make the full payment will face a penalty of 10% of the tax amount. The minimum amount of fine will be Rs.10, 000 if the 10% amounts to anything less. In case of deliberate tax evasions, offenders will be charged a penalty of 100% of the tax amount. The penalty will be 10% of the tax due in case of genuine errors.