Foreign Companies GST Registration Overview
As per GST registration law of India, every foreign company which supplies goods or services to individuals or companies located in India must obtain GST registration for doing business in any part of India. Foreigners are required to obtain GST registration 5 days prior to the commencement of business in India. The application for GST registration for foreigners must be made through an authorized agent in India. Every company needs to appoint an authorized agent in India to comply with GST regulations. After filing an application for GST registration, a transaction number is generated. With the help of transaction number, GST deposit must be made by the tax payer to obtain GST registration in India.
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Documents Needed For GST Registration by Foreign Companies in India
After GST registration, every company needed to file GST-5 on GST portal to show details of all outward & inward supplies. Every foreign company needs to file GST return and must do payment of GST liability by 20th of next month or within 7 days after the expiration of the validity of GST registration (Whichever is earlier). In case, a foreign company providing IODAR (Online information and database access retrieval) services are needed to file their monthly GST return by 20th of every month through form GSTR-5A.
Process of GST Registration for Foreign Companies
In the first step, a foreign individual has to submit a duly signed application through form GST REG-9 along with a self-attested copy of passport at least 5 days before the commencement of business in India.
In the second step, you have to share the following details – Bank account details, Visa details, Residence address proof of the foreign country and location of the business entity.
Thirdly, Make sure that the application must be signed by an authorized signatory who is a resident in India and having a valid PAN.
Every foreigner has to deposit tax in advance by estimating the tax liability for the registration period. The registration for a foreign individual is valid for 90 days from the date of registration but it may be extended further for another 90 days after filing the form GST REG-11.
After getting registered properly, every foreign company needs to file monthly GST return via Form GSTR-5 by 20th of the next month or within 7 days after expiration of GST registration (whichever is earlier).