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What is GST Registration ?

GST refers to Goods and Services Tax which subsumes all taxes such as Sales tax, Service tax, Excise duty etc. into GST. GST registration is required primarily if your annual sales are more than Rs. 20 Lakh. Even if your sales are less than Rs. 20 Lakh, we suggest that you voluntarily opt for GST registration because:

  • You will not get any tax refunds on purchases (e.g. if you buy goods worth Rs 1 lakh in a year, and tax rate is 28% – you will lose tax refund of Rs. 28,000).
  • You cannot sell outside your state

GST registration typically takes between 2-6 working days. You need to file your application with the department and sign it with your digital signature. GST is to be charged at every step of the supply chain, with complete set-off benefits available. The procedure for GST is completely online and requires no manual intervention.

Who all need GST Registration?

The registration in GST is PAN based and State specific. Supplier has to register in each such State or Union territory from where he effects supply if he fulfills any of the following conditions:

  • Having an annual aggregate turnover from all-India operations which is above the threshold limit of Rs. 20 Lakhs (Rs. 10 Lakhs for 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.

Documents for Registration

The list of documents required for registration of GST for various business are as follows:

PROPRIETORSHIP

  • PAN Card and address proof of proprietor

LLP

  • PAN Card of LLP
  • LLP Agreement
  • Partners’ names and address proof

PRIVATE LIMITED COMPANY

  • Certificate of Incorporation
  • PAN of Company
  • Articles of Association
  • Memorandum of Association
  • Resolution signed by board members
  • Identity and address proof of directors
  • PAN Card and address proof of proprietor

GST Registration Number

GST Registration Number is a 15 Digit identification number which is allotted to each applicant. It’s completely based on the Pan Number and State code. First two digits represent the state code and another 10 digits represent the Pan number of the client, one digit represent the entity code( Like proprietorship firm or partnership etc), one digit is blank and last one represent check digit.

GST Registration Number is Mandatory or Required ?

  •  If you are selling goods and services within state and have expected turnover more than 20 lakh rupees in a year.
    ( For Ex –  Providing the goods and services in Delhi and between 01.04.2017 to 31.03.2018 your turnover cross more than 20 lakh rupees then its required the GST Number.
  •  If you are selling goods and service outside state & even have turnover less than 20 lakh rupees in a year.
    ( For eg. – providing the goods and service in Delhi , Jaipur, Mumbai, Bangalore and have turnover less than ₹ 20 lakh in 2016-17 but still you require the GST Registration due to inter state supply.)
  • If you are doing ecommerce business online or any service based business online, for that it require the GST Registration.
  • If you are dealing as trader or manufacturer and your suppliers are registered under the GSTIN already, then they charge the GST on your purchase & if you need the input credit or refund, then you need to have the GSTIN Number.
  • E-commerce Aggregators and Operators requires the GSTIN Number from starting.

What are GST Compliances ?

Every person registered under the GST Act has to periodically furnish the details of sales and purchases along with tax collected and paid thereon, respectively, by filing online returns. Before filing the return, payment of tax due is compulsory otherwise such return will be invalid.

Steps for filing GST return:

GST return can be filed in different forms depending upon the nature of transaction and registration.Return Forms that are applicable for Normal Tax payers and their due dates are:

  • Monthly Details of outward supplies in FORM GSTR-1 by the 10th of next month.
  • Monthly Details of inward supplies in FORM GSTR-2 by the 15th of next month.
  • Monthly Filing of Return along with payment of tax due in FORM GSTR-3 by the 20th of next month.
  • Annual Filing of Return in FORM GSTR-9 by 31st December of next financial year.

Types of returns under GST

There are multiple returns under the GST regime. The most common used return will be GSTR 1, 2, 3, 4 & 9. GSTR 1, GSTR 2 & GSTR 3 will be submitted by all businesses on a monthly basis along with GSTR 9 on an annual basis. GSTR 4 is submitted by composition taxpayers on a quarterly basis.

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