Blog #gst registration

If you are going to start your business related to goods and services then applying for GST Registration is the very first thing that needs your attention. So if you are unclear about the eligibility criteria, online GST registration procedure, fees structure, and anything then this article will be a complete guide for you. Let’s understand its meaning and importance firstly.

GST registration is the process in which we apply for goods and products business registration as a normal taxpayer only when the turnover exceeds the amount of Rs 20 lakhs only. The threshold limit in North Eastern & Hilly States is about Rs 10 lakhs. If you are carrying your business without the registration then you will be considered as the defaulter in the eye of law and you will be liable to pay a heavy penalty. Any business whose turnover exceeds the limit of Rs 20 lakhs are supposed to apply for GST registration. Businesses that are registered under the pre-GST regime such as Excise, Service Tax, VAT, will also be registered under GST.

Businesses that are mandatory to be registered Under GST irrespective of the turnover: -

• Every business that is already registered under the VAT, Excise, Service Tax, etc.
• A casual taxable person,
• Input service distributor,
• Non-resident taxable payer,
• If a business is transferred to any other party then the transferee will be responsible for registering his business w.e.f the date of the transfer.
• A person who supplies via e-commerce aggregator.

What Are The Documents Required For GST Registration?

• Valid bank account number & details from India,
• Valid Permanent Account Number(PAN)
• Valid phone number & email address,
• Prescribed documents & information on mandatory fields of the registration application,
• Address of the Place of the business,

How To Hire Expert for GST Registration Procedure?

You may get started with the online GST registration procedure via the Government GST online portal or GST Seva Kendra. We can provide you a step-by-step guide on how to register under the GST. Swarit Advisors is the best consulting firm where experts are 24*7 hr available to help you. You need to contact us through the phone number or the email so that we can approach you.

What is the Fee for the GST Registration?

There is no registration fee for GST, you simply need to log in to the online GST portal and follow the steps required for the GST registration process. In a business gets fail to register under GST then he has to pay the penalty of about 10% of the amount due, subject to a minimum of Rs 10,000. If the tax evasion is intentional then the penalty will be liable to 100% of the due tax amount.

If a business is carried out in a different state then separate registration for each state is required. There is a scheme called GST Composition Scheme, where firms can pay tax as a fixed percentage of their turnover. It is a convenient tax scheme for small and medium enterprises. A dealer who deals only in the intra-state of goods and service of restaurant sector may avail composition scheme, or who don’t supply non-taxable goods or not an e-commerce operator, or pays tax at normal rates, or is not a manufacturer of ice-cream, tobacco or pan masala, etc. The floor rate of tax for the CGST &SGST should not be less than 1%. And the turnover of an enterprise must be upto 1.5 crore Rs, whereas in the case of the North-Eastern States or Himachal Pradesh it should be 75 lakh Rs only.

If you have any queries in your mind or need to hire a professional then you are at the right platform where we provide guidelines to avoid technical issues while applying online for the GST Registration. We are just a call away from you.

Source url - http://swaritadvisors.zumvu.com/get-complete-guide-for-gst-registration-online

Before Goods and Service tax was introduced dealers were required to be registered under stare value added tax laws and similarly service providers were required to get Service Tax Registration. Other than these there were various other indirect taxes imposed on different products. However, after introduction of GST all these indirect taxes are replaced by one single Goods and service Tax. This is done with an objective of simplification of taxation system in India and curbing the money laundering practices done by many.

This is a totally online system where starting from registration, return filing and all other things can be done online. This is done with an objective of ease of doing business.

Steps involved in GST Registration

Any business can apply for GST registration irrespective of its form. Applicant can be a sole proprietor, partnership firm, limited liability partnership, a registered company etc. The applicant is required to follow the following steps:

Under GST Registration process taxpayer is required to follow the following steps:

• The initial step is to open the GST Portal
• Select the ‘New Registration’ option from the Services menu.
• Fill in Part A of Form GST REG-01. Submit the form after filling in the following information;

• Nature of applicant
• Place of business
• Legal name of business
• PAN No. of the applicant
• Contact details including mobile no. and email Id

• OTP will be sent to the email Id and mobile number mentioned. Verify both the OTPs on the portal. After verification TRN will be generated.
• The applicant shall login on the portal using the TRN
• Fill in all the required information on Part B of Form GST REG-02.
• Upload scanned copies of all the required documents
• Submit the registration form and in some time Application Reference Number (ARN) will be issued. You can track the status of the application using ARN
• Once the registration form is filled and submitted it is checked by the GST officer
• If there are any issues identified by the GST officer in the application then he will communicate to the same to the applicant through an email within 3 days.
• The applicant is required to provide the documentation or verification required by the department within stipulated time period.
• If after due verification of the submissions, the officer is satisfied then GST Registration Certificate in FORM GST REG-06 will be issued to the applicant.

Documents Required in the Process of GST Registration

In case of an Individual

• A passport Size photograph
• PAN Card
• Aadhaar Card
• Bank details of the applicant( Cancelled cheque or latest bank statement)
• Registered office details.

• If it is a self owned property then copy of latest address proof ( Electricity Bill/ Broadband Bill/ Property Tax receipt etc.)
• If it is a Rented property then Rent agreement and copy of latest address proof ( Electricity Bill/ Broadband Bill/ Property Tax receipt etc.)

In case of a Firm/ Limited Liability Partnership

• Passport Size Photograph of the All partners
• Pan Card of the All partners
• Aadhaar card of the All partners
• Copy of Partnership Deed
• Bank details of the applicant( Cancelled cheque or latest bank statement)
• Registered office details.

• If it is a self owned property then copy of latest address proof ( Electricity Bill/ Broadband Bill/ Property Tax receipt etc.)
• If it is a Rented property then Rent agreement and copy of latest address proof ( Electricity Bill/ Broadband Bill/ Property Tax receipt etc.)

• Authorization letter signed by all partners to authorize one of the partner to execute all the GST related documentation on behalf of the Firm
• In Case of LLP, following are also required;

• DSC of Authorized signatory
• Certificate of incorporation issued by the MCA

In case of a Company

• Passport Size Photograph of the All Directors/Shareholders
• Pan Card of the All Directors/Shareholders
• Aadhaar card of the All Directors/Shareholders
• Bank details of the applicant( Cancelled cheque or latest bank statement)
• Registered office details.

• If it is a self owned property then copy of latest address proof ( Electricity Bill/ Broadband Bill/ Property Tax receipt etc.)
• If it is a Rented property then Rent agreement and copy of latest address proof ( Electricity Bill/ Broadband Bill/ Property Tax receipt etc.)

• Certificate of incorporation of the company issued by the registrar of companies
• Board Resolution issued on the letterhead of the applicant company authorizing one director of the company to execute all the GST registration related documentation on behalf of the company
• DSC of the authorized Director.

We are a Pan India Based Consultant.  No matter where you are based, if you need any guidance in GST registration and Return Filing under GST you can contact our group of consultants.

Source url- http://swaritadvisors.dudaone.com/online-gst-registration-procedure