GST Registration
What is Goods And Services Tax (GST) Registration ?
From 1st July, 2017 GST will replace Central and State level indirect taxes like VAT, Service tax, Excise etc. Businesses that are registered under VAT or Service Tax need to migrate to GST as per the enrollment plan of State Government. Under this plan, iSPEEDTax GST experts will guide you on the applicability and compliances under GST for your business. They will assist you on the procedural formalities to get registered and secure your Goods and Service Tax Identification Number (GSTIN). Initially the applicants will be granted provisional registration under GST and later permanent registration will be granted in line with government guidelines.
1) The following persons shall not be liable to registration, namely;
- Any person not liable to tax or wholly exempt from Goods & Service Tax;
- An agriculturist, to the extent supply of produce out of cultivation of Land.
2) Anything else notified by the Government from time to time.
Person Not Liable For Registration
Documents Required for GST Registration
Aadhar card
Bank account information
Digital Signature
PAN card
Proof of appointment of authorized signatory
Proof of constitution of business
Proof of principal/additional place of business
- COMPULSORY REGISTRATION IN FOLLOWING CASES:
As per the GST law, if any person supplies goods or services for the value of more than Rs.20 lakh, then GST registration shall be mandatory and he shall have to apply for GST registration within 30 days. Further, the basic exemption of Rs.20 lakh is not applicable for north eastern states including Jammu & Kashmir (J&k), Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizroram, Nagaland, Sikkim, Tripura, Himanchal Pradesh and Uttrakhand. For these states, the basic exemption limit is Rs.10 lakh.
- Following are 11 cases where you need a compulsory/ mandatory GST registration irrespective of your turnover.:
- 1) Person making any inter-state taxable supply.
- 2) Casual taxable person making any taxable supply.
- 3) Persons who are required to pay tax under Reverse Charge.
- 4) Non-resident taxable person making any taxable supply.
- 5) Persons who are required to deduct TDS - Whether or not registered (Govt Departments).
- 6) Person supplying goods/services on behalf of someone else (agent).
- 7) Input service Distributor - Whether or not register.
- 8) Person selling on e-commerce platform like Flipkart, amazon etc.
- 9) Every e-commerce operator – Uber, Ola, Flipkart, Amazon, Snapdeal etc.
- 10) Every person providing online information database access from outside India - AWS, GoDaddy etc.
- 11) Anything else notified by the Government from time to time.
- Advantages of Registration:
- • Taxpayer is legally recognized as supplier of goods or services.
- • Taxpayer is legally authorized to collect taxes from his customers and pass on the credit of the taxes paid on the goods or services supplied to the purchasers/recipients.
- • Taxpayer can claim Input Tax Credit of taxes paid and can utilize the same for payment of taxes due on supply of goods or services.
- • Seamless flow of Input Tax Credit from suppliers to recipients at the national level.
