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GST Registration Services

Documents Required for GST Registration

Every business must comply with the GST registration company India rules and regulations. The taxpayer can get the registration to distinguish their business from others. A new GST registration company can get a unique 15-digit registration number. This unique number known commonly as the GST Identification Number or GSTIN can provide complete details about the business. The central government provides this number to a taxpayer when they apply for the unique number with the following documents:

  • PAN card of the business or individual
  • Aadhaar card
  • Incorporation certificate or proof indicating the business registration
  • The authorization letter or board resolution for the authorized signatory
  • The address and identity proofs with photographs of business owners (Promoters/Directors)
  • Bank account statement of the business or cancelled cheque
  • Digital Signature

GST Registration in India: Know Everything About GST

GST Registration in India: Know Everything About GST

Every business must comply with the GST registration India rules and regulations. The taxpayer can get the registration to distinguish their business from others. A new GST registration company can get a unique 15-digit registration number. This unique number, known commonly as the GST Identification Number (GSTIN), can provide complete details about the business. The central government provides this number to a taxpayer when they apply for the unique number with the following documents:

  • PAN card of the business or individual
  • Aadhaar card
  • Incorporation certificate or proof indicating the business registration
  • Authorization letter or board resolution for the authorized signatory
  • Address and identity proofs with photographs of business owners (Promoters/Directors)
  • Bank account statement of the business or cancelled cheque

Digital Signature

GST Registration in India: Know Everything About GST

Online GST registration has become mandatory for businesses running in India. Implementing the GST act may improve the efficiency of tax collection in the country. A company must apply for GST registration when they expect a turnover of forty lakhs or more annually in all states in the country. Legal Dev Specialized CA legal Service offers GST Registration Service with a professional team. Legal Dev helps the business owner and companies in GST registration and maintenance annually.

Every business and company GST registration is mandatory. If any business or organization runs without GST registration, it is an offence under government law, and heavy penalties may be applied.

The GST registration process can be completed online through the GST portal or by contacting any CA firm and service provider to complete your GST Firm Registration and maintain it annually.

Once you have registered for GST, you will be required to file regular GST returns annually, which can also be done through the GST portal. It is important to comply with the GST regulations to avoid any penalties or legal consequences.

What is GST?

GST stands for Goods and Services Tax. It is a comprehensive indirect tax levied on the supply of goods and services across India. Implemented on July 1, 2017, GST replaced various indirect taxes that were previously imposed by the central and state governments, such as excise duty, service tax, value-added tax (VAT), and others.

The GST system is designed to create a unified taxation structure, simplifying the tax regime by streamlining different taxes into a single tax. It operates on a dual model, involving both the central and state governments:

  • Central GST (CGST): Collected by the central government on intra-state supplies of goods and services.
  • State GST (SGST): Collected by the state government on intra-state supplies of goods and services.

 

Who Needs to Register for GST?

  • Under India’s Goods and Services Tax (GST) regime, registration is mandatory for businesses exceeding specified turnover thresholds, varying from ₹40 lakhs (₹10 lakhs for some special category states in Northeastern India) for most states to ₹20 lakhs for inter-state suppliers. Specific entities, regardless of turnover, such as those involved in inter-state supply, e-commerce operators, non-resident taxable persons, and those liable under reverse charge, must also register. GST registration for proprietorship, GST registration for private limited company, and GST registration for service provider are crucial to ensure compliance with GST laws. Voluntary registration is an option for businesses below these thresholds, offering benefits like input tax credit and business expansion.

Types of GST Registrations

  • Regular Taxpayer Registration (Normal GST Registration)
  • Composition Scheme Registration
  • Non-Resident Taxable Person Registration
  • Casual Taxable Person Registration
  • Input Service Distributor (ISD) Registration
  • Tax Deductor and Tax Collector Registration
  • E-commerce Operator Registration
  • OIDAR (Online Information and Database Access or Retrieval) Services Provider Registration

Benefits of GST Registration

Registering for Goods and Services Tax (GST) in India provides an array of advantages for businesses. Firstly, it establishes the legitimacy of a business entity, ensuring adherence to tax laws and enhancing credibility among stakeholders. Additionally, GST registration enables access to Input Tax Credit (ITC), allowing businesses to claim credit for taxes paid on purchases, thus reducing overall tax liability and encouraging compliance throughout the supply chain. Moreover, it facilitates wider market access by enabling inter-state trade without constraints, potentially expanding business horizons. For smaller businesses, GST registration for online business offers the option to enroll in the Composition Scheme, easing compliance burdens and providing a fixed tax payment structure based on turnover. It also grants legal protections, access to government schemes, and the ability to participate in e-commerce transactions more efficiently, among other benefits.

GST Registration Process + What is GSTIN

The GST registration process in India involves several steps and leads to obtaining a unique registration number known as the Goods and Services Tax Identification Number (GSTIN). Here’s an outline of the registration process and an explanation of GSTIN:

  • Eligibility Check
  • Online Application
  • Verification and Documentation
  • Application Submission
  • Verification by Tax Officer
  • Certificate Issuance

Goods and Services Tax Identification Number (GSTIN):

GSTIN is a 15-digit unique identification number assigned to each taxpayer upon successful GST registration. It is based on the PAN of the business entity and the state code. The structure of GSTIN is as follows:

  • First two digits: State code
  • Next ten digits: PAN of the taxpayer
  • Thirteenth digit: Entity code based on the number of registrations within a state
  • Fourteenth digit: Alphabet Z by default
  • Fifteenth digit: Checksum digit for verification purposes
GST

GSTIN is used for all GST-related transactions, filing returns, and communication with tax authorities. It serves as a critical identification number for compliance and taxation purposes under the GST regime, helping track and streamline transactions across the country.

Online vs. Offline Registration

In the context of GST registration in India, businesses have the option to register either online or offline based on their preference and convenience. Here’s a comparison between online and offline registration processes:

Online Registration:

  • Convenience: The online registration process is accessible 24/7 through the GST Common Portal (https://www.gst.gov.in/), allowing businesses to apply from anywhere with an internet connection.
  • Speedy Process: Typically, the online process is faster as it involves filling out forms, uploading necessary documents, and submitting everything electronically.
  • Transparency: Applicants can track the status of their application, receive updates, and communicate with tax authorities through the portal.
  • Ease of Documentation: Documents can be uploaded digitally, reducing the need for physical copies and making the process more streamlined.
  • Efficiency: GST registration certificate and GSTIN are issued electronically upon approval, eliminating the need for physical collection.

Offline Registration:

  • Assistance from Tax Professionals: Some businesses prefer offline registration as they can seek guidance and assistance from tax professionals or chartered accountants who can handle the process on their behalf.
  • Physical Interaction: For those more comfortable with face-to-face interactions, offline registration provides the opportunity to visit the tax department office and submit the application physically.
  • Local Assistance: In certain cases, businesses might prefer offline registration due to local circumstances or regional preferences where offline methods are more customary.

GST Registration Fees

  • The fee for GST registration online is ₹590. This amount, as indicated, is the cost charged by “Legal Dev” for assisting with the GST registration process. This service provider likely offers assistance to businesses or individuals in completing the GST registration formalities for a fee of ₹590
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