GST Registration Services
A Guide by Deepender Aggarwal & Associates
Goods and Services Tax (GST) is a comprehensive, multi-stage, destination-based tax levied on every value addition. Understanding GST registration is crucial for businesses to ensure compliance and avoid penalties. Deepender Aggarwal & Associates, an expert in taxation, offers insights into the GST registration process, its benefits, and requirements.
Who Needs GST Registration?
Under GST law, businesses whose aggregate turnover exceeds the threshold limit must register for GST. The limits are:
- Service Providers: Rs. 20 lakhs (Rs. 10 lakhs for special category states)
- Goods Suppliers: Rs. 40 lakhs (Rs. 20 lakhs for special category states)
Additionally, certain businesses must register for GST regardless of their turnover:
- Inter-state suppliers
- Casual taxable persons
- E-commerce operators
- Non-resident taxable persons
- Agents of a supplier
Benefits of GST Registration
Registering for GST offers several advantages:
- Legal Recognition: Establishes the business as a legal entity.
- Input Tax Credit: Businesses can claim input tax credit on purchases.
- Inter-State Transactions: Enables smooth inter-state operations.
- Non-resident taxable persons
- Competitive Edge: Enhances the credibility and trustworthiness of the business.
Steps for GST Registration
- Access the GST Portal: Visit the official GST portal (www.gst.gov.in) and click on 'Register Now'.
- Fill in Part A: Provide essential details like name, PAN, email, and mobile number. An OTP will be sent for verification.
- Fill in Part B: Submit business details, including business name, constitution, address, and bank account information.
- Upload Documents: Required documents include PAN card, proof of business registration, identity and address proof of promoters, and bank details.
- Verification: The application is verified by the GST officer. Additional information or documents may be requested.
- GSTIN Allotment: Upon successful verification, a unique GST Identification Number (GSTIN) is allotted.
Documents Required for GST Registration
- PAN card of the business or applicant
- Proof of business registration or incorporation certificate
- Identity and address proof of promoters/directors with photographs
- Address proof of the place of business
- Bank account statement or a canceled cheque
- Digital signature