GST Registration

Registration of GST

In the GST Regime, Businesses whose turnover from only sale of goods exceeds Rs. 40 lakhs (**Rs 20 Lakh in Arunachal Pradesh, Sikkim, Meghalaya, Uttarakhand, Telangana, Puducherry & Rs 10 lakhs for Manipur, Mizoram, Nagaland, Tripura) & In Case of trnover from Rendering of Services or Partially goods & partially services then threshold Limit Rs 20 Lakh (Rs 10 lakhs for Manipur, Mizoram, Nagaland, Tripura) is required to get register as a normal taxable person. For certain businesses, for which registration under GST is mandatory. If the organization carries on business without registering under GST, it will be an offence under GST and heavy penalties may attract. Brodaly GST Registration are three Types:-
1. Normal Registration (For Voluantory & Mandatory Tax Payers)

2. Composition Registration( For Composit Dealers who pay tax at fixed % of his turnover)

3.GST TAN No( For Deducting & Collecting Tax from applicable Persons)

But In Details, Follwings are the Types of Registration under GST:-

• Regular dealer:- Assessees who do not fall under any specific category like composition scheme or foreign taxpayer etc.
• Composition Dealers:- Assessees who fall under the category of composition/compounding dealers won’t have to maintain invoices and do not need to deal with the interstate transaction.
• Tax Deductor(TDS under GST):- An Assessee who will register himself as a Tax Deductor will be liable to follow these compliances.
• Input Service Distributor:- An assessee who is an input service distributor and distributes input tax credit to his branches will be covered under this category.
• UN Bodies / Embassies:- The UN Bodies or Embassies who want to register themselves for GST should follow the following step to be part of GST without affecting administration.
• Non- Resident Assessee:- non-resident taxable person” means any person who occasionally undertakes transactions involving supply of goods or services or both, whether as principal or agent or in any other capacity, but who has no fixed place of business or residence in India; Definition of IT Act is not applicable in GST.
• Temporary Taxpayers/Casual Registration:- A CTP has to obtain a Temporary Registration which is valid for a maximum period of 90 days in the State from where he seeks to supply as a Casual taxable person. A CTP is required to make the advance deposit of GST
• E – Commerce Dealer:- E-commerce Operators are responsible under the GST law for collecting and depositing tax at the rate of 1% from each transaction. ... All the traders/dealers selling goods/services online would need to get registered under GST even if their turnover is less than 20 Lakhs for claiming the tax deducted by Operators

Who must get GST Registration (Mandatory Registration):-

• Businesses with turnover above the threshold limit i.e (Rs. 40 Lakhs/20 Lakh/10 Lakh) (as applicable)
• Casual taxable person / Non-Resident taxable person
• Agents of a supplier & Input service distributor
• Those paying tax under the reverse charge mechanism
• Person who is required to deduct tax U/s 51
• Every e-commerce Operator
• Person supplying OIDAR services from a place outside India to a person in India, other than a registered taxable person
• Person who supplies via e-commerce Operator

Advantages:-

• Legally recognized as supplier of goods or services.
• Eligible to avail various other benefits and privileges under the GST laws & MSME's.
• Fast Processing of application of Collectral Free Loan (As Govt Intitative in Just 59 Miuntes)
• Except in the Case of Composit Registration, A Dealer is Eligible to Collect tax on Sales & Set off it with which was paid by him at the time of Purchase of goods or Procurment of Services.
• Ease of Doing Business

Required Documents For Registration:-

• PAN Card of the Business or Applicant
• Photographs of all applicant/ Concern Persons
• Photo ID proof & Address Proof of Applicants( Any one of PAN & AAdhar Must) If these not available you may give Passport, Driving License, Voter ID Card. In that case, Deptt Issue Registration Certificate after Physical Verification of Business Premises.
• DSC in Case of (Compnay/LLP)
• Business Registration/Constitution/Incorporation Document.
• Rent agreement of your registered office
• No objection certificate from the owner of the property of the property
• Latest Electricity bill (Not Older than 2 Months)
• Bank Account Statement/Cancel Cheque (if account Business Opened)
• Resolution in respect of Company/LLP/Partnership Firm in Favour of Authorising Person
• ** NOTE- All Documents Must be Self Attested.