GST is a type of tax registration and it is essential for all the businesses of India. A company needs to pay the GST if:
What is meant by GST Registration?
GST means Goods and Services Tax like Excise duty, Service tax and Sales tax etc. GST registration takes two to six days to finish the entire registration process.
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Who require registration for GST?
The GST is based upon the PAN and it is specific to the state. The supplier has to register in every Union Territory or state from where the supply is affected by him or her and if he or she fulfills the following criteria:
Advantages of GST Registration
He can collect taxes from his customers.
Out of the total taxes paid to his suppliers, he can claim input tax credit of the taxes. He can utilize the similar for paying the due taxes.
At the national level, continuous flow of the input credit of the tax from the distributors to the recipients.
Process of GST Registration
The first step is to visit the official portal of the GST and search for “Registration” tab.
You need to input State, E-mail ID, Mobile No. and PAN in Part A of the form GST Reg-01 of registration of the GST.
After the verification via OTP, you will get a TRN (Temporary Reference Number) on your E-mail and mobile.
The next step is to fill the Part B of the GST form GST REG-01 signed by the EVC or DSC. After that you require to upload the necessary documents related to the type of your business.
An acknowledgement number is generated in the form.
In case of any detail requested from you and announced to you in the form GST Reg-03. You require to go to the concerned department and produce or clarify the documents within one week in form GST REG-04.
Your application is rejected by the office if it contains any kind of errors. You will have intimated about this in form GST REG-05.
After the necessary approval and verification, registration certificate will be issued to you in the form GST Reg-06.
What are the documents required for GST Registration?
The following documents are required for GST Registration.
Aadhar card of partners/directors/owners.
Partnership Deed or
Letter of consent (NOC) or Rent agreement, Telephone/Electricity Bill
Authorization letter of
PAN card of partners/directors/owners
The GSTIN is a fifteen-digit number. Its first two digits denotes code of the state. The following ten digits will denote the PAN of the entity or person who is involved in the business.
Frequently Asked Questions
You require to file an online application to choose the composition scheme. Taxpayers who can choose this scheme can be organized in the below manner.
Existing Taxpayers: A taxpayer who is registered under GST regime as a normal tax payer need to file an application in form CMP-02 to select the composition scheme at least one week before the financial year starts, for which the alternative of paying the tax under composition is exercised.
New Taxpayers: After 1st July 2017, a person who is bound to register under the act of the GST need to file the form GST Reg-01 and select his alternative to pay the amount of composition in the application for the new registration.
Migrated Taxpayers: A taxpayer who is migrated from previous laws and has been given the provisional certificate of registration need to file an application under the form GST CMP-01 and gives information in GST CMP-03 within one months after the 1st July 2017.
Persons who fulfilled the below criteria are eligible for registration under the composition scheme.
For the small tax payers, composition scheme is launched to decrease the burden of compliance on them.
Before making any supply, they need to apply for the registration at least five days before the actual date. The issued certificate of registration is valid for a period of three months, and after that it can be extended.
Aggregate turnover is the total of:
A taxpayer can make changes in some details without approval, such as mobile numbers and e-mail IDs. But for the following modifications, he need to apply within fifteen days.
In the following two cases the GST registration certificate is cancelled.
GST registration is not necessary for the following kind of persons:
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