GST Registration

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Overview of GST Registration

  • GST registration means Goods and Service Tax. The registration under GST is mandatory for the business entities based on the criteria of turnover or activities.
  • GST is a single tax that will replace all the existing indirect taxes in India. These taxes include Sales tax (VAT), Excise duty (CENVAT), Service tax, Entertainment tax, Luxury tax etc.
  • Goods and services are divided into five tax slabs for collection of tax – 0%, 5%, 12%, 18% and 28%. Your one-stop shop for all GST related problems. Get end-to-end Tax Advisory Services & Pan card registration. Let Registrationshops take care of your GST Registration.

    Documents required for GST registration

    Proprietor/All directors/All partners aadhaar card

    Proprietor/All directors/All partners pan card

    Proprietor/All directors/All partners passport size photo

    Latest company located rental or lease agreement and eb bill (For rental place), or Eb bill and property tax receipt (For own place)

    Authorized person's saving or current account passbook front page or cancelled cheque or bank statement

    Types of GST Registration at different levels

    There are 4 types of gst are available.

    1) CGST – It is short for Central GST.
    2) SGST – It is short for State GST.
    3) UTGST– It is short for Union Territory GST.
    4) IGST – It is short for Integrated GST.

    a) CGST – The tax will be imposed by the central government of India. It will replace excise duty, service tax, SAD (Special Additional Duty), CVD (Countervailing Duty), ADE (Additional Duties of Excise) and other indirect taxes levied by the central government. CGST will be applicable on supplies within a state and the tax revenue will go only to the central government.

    b) SGST – The tax will be imposed by the state government. It will replace sales tax, VAT, entertainment tax, entry tax, luxury tax, purchase tax and taxes on lottery. SGST will be applicable on supplies within a state and the tax revenue will go only to the state government.

    c) UTGST – The tax will be imposed by the Union Territory of Chnadigarh, Lakshadweep, Daman and Diu, Dadra and Nagar Haveli, Andaman and Nicobar Islands, Delhi and Puducherry. It will replace sales tax, VAT, entertainment tax, entry tax, luxury tax, Octroi, purchase tax and taxes on lottery. UTGST will be applicable on supplies within a union territory.

    d) IGST – It will be imposed by state and central government together, but is collected by the central government. The revenue is shared by both central and state governments. It will replace Central Sales Tax (CST). It will be applicable on interstate import and supplies. No exemption limit has been defined by the government for this type of GST. If dealers supply in different states, then they have to register for this GST. It will also be applicable on free supplies. For this type of GST, the composition scheme is not available.

    Who will take GST Registration in India?

    GST was mandatory for following business,

    • A business whose aggregate turnover in a financial year exceeds Rs. 40 lakhs for goods and Rs. 20 lakh for services. 
    • Supply of goods through inter-state
    • Sell the products through e-commerce platform.
    • Incase wholesaler or retailer or customers want bills.

    Return Filings

    • Every GST registrant requires to file every month or three month/quarterly once and one annual returns.
    • It was based on your business turnover and your business type.

    Frequently Asked Questions

    01. Who needs gst registration number?
    • Businesses having annual income more than Rs 40 Lakhs Per Annum.
    • If business is dealing in one city to another city.
    • Selling your goods to online (like selling on Amazon or Flipkart).
    • If you are providing services to outside India.
    02. When should a business apply for multiple GST registrations?

            If a business operates more than one state, then a separate GST registration is required for each state. For e.x, If a person sells electronic items in Kerala and Tamilnadu, he has to apply for separate GST registration in Kerala and Tamilnadu respectively.

    03. What is the composition scheme?
    • It is a scheme under GST for small businesses whose turnover less than Rs. 1.5 crore (less than 75 lakhs for North Eastern states).
    • The business owners registered under this scheme and these vendors pay tax at a lesser rate.
    • A composition tax payer cannot collect tax or claim input tax credit for the supplies delivered to their clients. Due to this reason, bills of supply are issued for sales transactions, instead of tax invoices.
    • The composition rates are different based on the type of business. For traders and manufacturers it’s 1%.For restaurant sector it’s 5%.
    04. Who can't opt for Composition Scheme?

    The following individuals cannot opt for Composition Scheme:
    1.Suppliers who provide services
    2.Suppliers involved in inter-state transactions
    3.E-commerce operators/aggregators
    4.Casual taxable person or a non-resident taxable person
    5.Manufacturers of ice-cream, pan masala and tobacco & tobacco substitute

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