GST Registration is the process by which a business or individual gets registered under the Goods and Services Tax (GST) law. Once registered, a unique GST Identification Number (GSTIN) is provided, which is required for conducting taxable business operations.
Who Needs to Register for GST?
- Turnover-Based Threshold:
- Businesses with an annual turnover exceeding ₹40 lakhs (₹20 lakhs for services) are required to register.
- For special category states, the threshold is ₹10 lakhs.
- Mandatory Registration (Regardless of Turnover):
- Interstate supply of goods or services.
- E-commerce operators and sellers.
- Casual taxable persons.
- Input service distributors (ISD).
- Agents supplying goods or services on behalf of other taxable persons.
- Non-resident taxable persons.
- Those paying tax under the reverse charge mechanism.
Steps for GST Registration
- Visit the GST Portal:
Go to the official GST website: www.gst.gov.in. - Create a New Account:
- Click on “Services” → “Registration” → “New Registration.”
- Fill in details such as name, email, mobile number, and state.
- Submit PAN and Business Details:
- Enter the business’s PAN, legal name, and trade name.
- Provide the nature of the business and jurisdiction.
- Provide Required Documents:
- PAN card of the business or individual.
- Proof of business address: Rent agreement, utility bill, etc.
- Identity proof: Aadhaar card, passport, or voter ID.
- Bank account details: Cancelled cheque or bank statement.
- Digital Signature Certificate (DSC): For companies and LLPs.
- Verification:
- Submit the application using an Electronic Verification Code (EVC) or a DSC.
- Once verified, an Application Reference Number (ARN) is issued.
- Approval and GSTIN Issuance:
After successful verification, the GSTIN is generated, and the Certificate of Registration is provided.
Documents Required for GST Registration
- For Proprietors:
- PAN card and Aadhaar card of the proprietor.
- Proof of business address.
- Bank details.
- For Companies/LLPs:
- PAN card of the company/LLP.
- Certificate of incorporation.
- MOA and AOA or LLP agreement.
- Board resolution authorizing registration.
- Authorized signatory details with identity proof.
Types of GST Registration
- Regular Registration: For businesses with turnover above the threshold or involved in interstate supply.
- Composition Scheme: For small taxpayers with turnover below ₹1.5 crore (₹75 lakh for special category states). They pay a fixed GST rate and file simplified returns.
- Casual Registration: For businesses operating temporarily in a state/region.
- Non-Resident Registration: For foreign businesses with no fixed place of business in India but supplying goods or services.
Benefits of GST Registration
- Legally recognized as a supplier of goods/services.
- Allows the collection of GST from customers and claim of Input Tax Credit (ITC).
- Eligibility to sell on e-commerce platforms.
- Improved compliance and credibility.
If you need assistance with GST registration or documentation, feel free to ask! AK Mehta & Associates😊