GST Registration
All the entities which are involved in buying or selling goods or services or both are required to register for GST under the GST regime. Unregistered entity cannot collect the GST from its customers and cannot claim the input tax credit and heavy penalty will be applied, therefore it is mandatory to register after crossing a certain threshold turnover by an entity.
Who is compulsorily required to register for GST?
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Businesses with aggregate turnover above the threshold limit of Rs.40 Lakhs (Rs.20 Lakhs for certain states North-Eastern States, J&K, Himachal Pradesh, and Uttrakhand)
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A casual taxable person or non- resident taxable person.
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Agents of a supplier & Input service distributor.
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Those paying tax under the reverse charge mechanism.
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Every e-commerce aggregator.
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A person supplying online information and database access or retrieval (OIDAR) services from a place outside India to a person in India, other than a registered taxable person
Voluntary GST Registration
Any entity can register for the GST irrespective of crossing minimum threshold turnover due to following reasons:
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For Expansion of Business.
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To satisfy the requirements of Business to Business (B2B) customers.
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For claiming the Input Tax Credit(ITC) benefits.
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To improve the credibility of Business.
What Documents are Required for GST Registration?
The documents required for the Online GST Registration varies with the type of business. The lists of documents required for GST Registration (based on the type of business) are listed below:-
For A Sole Proprietorship Business
- PAN card of the owner
- Aadhar card of the owner
- Photograph of the owner (in JPEG format, maximum size – 100 KB)
- Bank account details*
- Address proof**
For A Partnership Firm
- PAN card of all partners (including managing partner and authorized signatory)
- Copy of partnership deed
- Photograph of all partners and authorised signatories (in JPEG format, maximum size – 100 KB)
- Address proof of partners (Passport, driving license, Voters identity card, Aadhar card etc.)
- Aadhar card of authorised signatory
- Proof of appointment of authorized signatory
- In the case of LLP, registration certificate / Board resolution of LLP
- Bank account details*
- Address proof of principal place of business**
For A HUF
- PAN Card of HUF and the Passport size Photograph of the Karta.
- Id and Address Proof of Karta and Address proof of the place of business.
- Bank Account Details
For A Public Or Private Limited Company
- Pan card of the Company
- Certificate of incorporation of Company
- MOA and AOA of the company.
- Identity Proof and address proof of all directors and Authorised signatory of the Company.
- Passport size photograph of the directors and authorized signatory.
- Copy of Board resolution passed for appointing authorized signatory.
- Details of Bank account opening.
- Address proof of the place of business.
Whether Digital Signature Certificate (DSC) Required for GST Registration?
YES, Digital Signature Certificate (DSC) is required if you are a Public Limited Company, Private Limited Company, Limited Liability Partnership (LLP), or One Person Company (OPC).
Time period for registration
It may take upto 7 working days for the registration if everything found in order.
We at Investax India provide expert assisted GST registration services and assist you through the process to get GSTIN at a cost which is less than the cost of a mid-size pizza.