GST Registration

About This Plan

This plan will help your business adapt to GST implementation and cater to all compliance and registration requirements along with expert advisory.

GST Registration

GST is the product of the biggest tax reform in India which has tremendously improved ease of doing business and increasing the taxpayer base in India by including millions of small businesses. In the GST Regime, a business whose turnover exceeds Rs. 40 lakhs is required to register for registration is called GST registration. Registration is mandatory once the entity crosses a minimum threshold turnover. Those having GST registration certificates are mandatorily required to display the registration certificate prominently at their place of business.

Who Should Register for GST?

• Individuals registered under Excise, VAT, Service Tax, etc.
• Service providers once they cross a turnover of Rs.20 lakhs and in the case of Special Category States at Rs 10 lakhs
• Businesses with turnover above the threshold limit of Rs. 40 Lakhs
• Casual taxable person / Non-Resident taxable person
• Agents of a supplier & Input service distributor
• Those paying tax under the reverse charge mechanism
• The person who supplies via e-commerce aggregator
• Every e-commerce aggregator

What is Penalty For Not Registering Under GST?

• Not paying tax or making short payments (genuine errors) has to pay a penalty of 10% of the tax amount due subject to a minimum of Rs.10000.
• A Penalty will at 100% of the tax amount due when evading payment of taxes

Documents Required for GST Registration?

• PAN Card of the Business
  • PAN must be obtained for the legal entity before applying for GST Registration
  • GST registration is linked to the PAN of the business
• Identity proof
  • PAN, passport, driving license, aadhaar card, or voter’s identity
  • Photographs of the promoters/ proprietors also need to be submitted.
• Address proof of promoter
  • Passport, driving license, aadhaar card, voters identity card, and ration card can be submitted as address proof.
• Business location proof
  • Own property – property tax receipt or copy of the electricity bill.
  • Rented or leased property – A copy of a valid rental agreement with any document in support of the ownership of the premises like the latest property tax receipt or copy of the electricity bill. If the rental agreement or lease deed is not available, then an affidavit along with any document in support of the possession of the premises like copy of an electricity bill is acceptable.

Benefits of GST

• Higher turnover limit for registration
• Composition scheme for small businesses
• The simple and easy online procedure
• Lesser number of compliances
• Improvement in efficiency logistics
• The unorganized sector is regulated under GST