Step By Step Guide For GST Registration in India

Posted by Register GST on September 4th, 2018

As the newly implemented law in India, GST registration by the taxpayers is mandatory. In this article we will cover most of the basic information you will require regarding the GST registration in India.

What is GST?

GST is a short abbreviation for the goods and services tax. GST is basically a combined tax or one tax for all in a way. It’s a unified tax of all steps that took place before reaching to the consumer. The GST was implemented on first July 2017 in India. This GST is an indirect tax that is levied on the goods and services and not on the income and profits.So this way, thegovernment collects taxes on the actual sales that are made by the businesses whereas the businesses collect theirs from the final consumers in an indirect way. The GST is applicable over sale of goods and services.

When GST Registration required mandatorily?

A GST registration shall be mandatorily required when you have an annual turnover exceeding the amount of Rs.20 lakhs. But in case you are operating your businessin states from North-east India or Jammu and Kashmir or Himachal Pradesh then you will need to get Online GST registration in your annual turnover exceeds the amount of Rs10 lakhs. In case you are selling your goods and services outside the state where you are originally located from then,you must get a GST registration irrespective of your annual turnover amount.

In case you are selling your product over the e-commerce website like Amazon or Flipkartetcthen again you had required NewGST registration Procedure. Apart from this, you will have to get GST registration if you are into import and export

Benefits of GST Registration

1)                 You become more competitive as you carry your valid GST registration number i.e. GSTIN.

2)                 You can expand your business online.

3)                 You can avail for the input tax credit.

4)                 You may sell all over India without any restrictions.

5)                 You can apply for government tenders.

6)                 You may open up a current bank accountin case you have started a sole proprietorship.

Let’s now have a look at what documents we will need to get a GST registration.

A few documents are listed below:-

1)                 Your Passport Size Photograph

2)                 Your Aadhar card or Passport or Driving License

3)                 Your PanCard number of as a business entity.

4)                 Address proof of business location.

5)                 Bank Statement or Cancel cheque or Passbook

ADDITIONAL DOCUMENTS FOR PRIVATE LIMITED COMPANY, or LLP, OPC, or PARTNERSHIP FIRM

1)                 Certificate of Incorporation in case of Company, OPC or LLP

2)                 Partnership Deed in case of partnership firm

GST Registration Process in procedural steps

1)                 First of all, just start with the arrangement of specified documents depending upon the type of business you own or run as an entity.

2)                 In case, you decide to get help from some agency, upload your documents to their portal and the information they had ask for in their forms.

3)                 Then some professional from their team will verify your documents, once all needs are met.

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