Goods and Services Tax (GST) registration is mandatory for businesses and individuals engaged in the supply of goods and services beyond a specified turnover threshold. GST unifies multiple indirect taxes into a single tax system, ensuring compliance and ease of tax filing. Businesses registered under GST obtain a unique Goods and Services Tax Identification Number (GSTIN), which is used for tax payments and returns.
There are different types of GST registration based on the nature of business and turnover:
1. Regular GST Registration:
o Required for businesses exceeding the turnover threshold of ₹40 lakh (₹20 lakh for service providers, ₹10 lakh in special category states).
o Suitable for all types of traders, manufacturers, and service providers.
2. Composition Scheme Registration:
o Available for businesses with an annual turnover of up to ₹1.5 crore (₹75 lakh for certain states).
o Allows businesses to pay tax at a lower rate with minimal compliance.
3. Casual Taxable Person Registration:
o Required for businesses that operate temporarily in a state or union territory.
o Valid for 90 days and can be renewed.
4. Non-Resident Taxable Person Registration:
o Applicable to foreign businesses supplying goods or services in India.
o Requires advance tax deposit.
5. E-Commerce Operator Registration:
o Mandatory for platforms facilitating online sales, such as Amazon, Flipkart, and Zomato.
6. Input Service Distributor (ISD) Registration:
o For businesses that distribute input tax credit to multiple branches.
GST registration is mandatory for:
• Businesses exceeding the turnover threshold (₹40 lakh for goods, ₹20 lakh for services, ₹10 lakh in special category states).
• E-commerce sellers and aggregators.
• Casual and non-resident taxable persons.
• Businesses involved in inter-state supply of goods or services.
• Businesses that require compulsory registration under GST law (e.g., ISD, reverse charge mechanism, etc.).
The following documents are necessary for GST registration:
For Proprietorship:
• PAN Card and Aadhaar Card of the proprietor
• Address proof (electricity bill, rent agreement, etc.)
• Bank account details (cancelled cheque or bank statement)
For Partnership Firms/LLPs:
• PAN Card of the firm and partners
• Partnership deed
• Aadhaar and address proof of partners
• Bank details of the firm
For Private Limited Companies:
• PAN Card of the company
• Certificate of Incorporation
• MOA and AOA
• PAN, Aadhaar, and address proof of directors
• Board resolution for GST registration
The GST registration process involves the following steps:
1. Visit the GST Portal
Go to the official GST portal (www.gst.gov.in) and select ‘New Registration’.
2. Fill Out the Application (Form GST REG-01)
Provide business details, PAN, email ID, mobile number, and state of registration.
3. OTP Verification
Verify the email ID and mobile number using OTP sent to the registered contacts.
4. Upload Required Documents
Attach business registration proof, identity documents, and bank details.
5. Application Verification (Form GST REG-02 & REG-03)
The GST officer may request additional information for verification.
6. GSTIN Issuance
Upon approval, the GSTIN is issued along with the GST Registration Certificate.
Vakil360 simplifies GST registration by offering:
• Expert Consultation: Guidance on the appropriate GST registration type.
• Document Preparation & Filing: Assistance in gathering and submitting the necessary documents.
• Faster Processing: Efficient handling of applications for quick GSTIN issuance.
• Post-Registration Support: Help with GST returns, compliance, and amendments.
