GST Registration
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Starting from ₹ 2000/-*
Completed by 10 days
*Subject to approval of Government portal services
1) GST Certificate
2) GST Nil return for Initial 3 months
GST Registration
Goods and Services Tax is referred to as GST. India has implemented a comprehensive indirect tax on the provision of goods and services. On July 1, 2017, the national and state governments of India replaced a number of indirect taxes with the Goods and Services Tax (GST). The major goals of the Goods and Services Tax (GST) are to increase the tax base, remove the cascading effects of taxes, simplify tax administration and compliance, and establish a single indirect tax system for the entire nation.
Eligibility criteria for GST Registration
Businesses and individuals must fulfill specific requirements under India’s Goods and Services Tax (GST) system in order to be eligible for GST registration. These are the main requirements to be eligible for GST registration:
1. Threshold Turnover: Companies must register under GST if their total turnover (which includes exports of goods and services, interstate supply, and exempt supplies) surpasses the threshold amount. The upper bounds on the threshold were:
For Goods- General Category States: Companies with yearly sales up to ₹40 lakh are exempt from GST registration requirements.
Special Category States: Companies with yearly sales up to ₹20 lakh are not required to register for GST.
For Services- General Category States: Service providers are not required to register for GST if their yearly revenue does not exceed ₹20 lakh.
– Special Category States: Service providers are not required to register for GST if their yearly sales does not exceed ₹10 lakh.
For Mixed Supplies (Goods and Services): The threshold for mixed supplies is ₹20 lakh for general category states and ₹10 lakh for special category states.
2. Voluntary Registration: To take advantage of the input tax credit (ITC), grow their market, and adhere to GST regulations, businesses with less than the threshold turnover may choose to voluntarily register.
Specific Categories: Businesses that fall under certain categories, such as those that offer products or services through e-commerce platforms, Input Service Distributors (ISD), or agents acting on behalf of other registered taxable people, are also required to register for GST.
3. Exemptions: Certain groups of people are not required to register for GST, including farmers who sell produce grown on their land and individuals who only provide exempt supplies of goods or services that are not subject to GST taxes.
4. Special Cases: Regardless of sales, all parties who are subject to pay tax under the reverse charge method, including e-commerce operators and individuals supplying goods through them, must register under the GST.
Special Category States
Special category states include Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh, and Uttarakhand. These states have lower thresholds to accommodate their unique economic conditions and challenges.
To guarantee legal conformity, organizations must comprehend these requirements and their obligations under the GST. Businesses can successfully comply with the GST requirements, get input tax credits, and collect taxes from customers by registering under the GST.
By establishing a more stable and transparent tax environment, the GST seeks to lower economic distortions, establish a common market throughout India, and promote economic progress.
List of Documents required for GST registration
To register for the Goods and Services Tax (GST) in India, you’ll need to provide several documents. The exact requirements can vary depending on the type of business entity (e.g., sole proprietorship, partnership, company). Here’s a general list of documents required for different entities:
PAN Card of the Proprietor/Directors/Partners
Aadhaar Card of the Proprietor/Directors/Partners
Photograph of the Proprietor/Directors/Partners (JPEG format, maximum size 100 KB)
Proof of Business Address (any one of the following):
– Electricity bill
– Rent/Lease agreement
– Consent letter from the owner
Bank Account Details:
– Cancelled cheque
– Bank statement
In case of Private Limited Company/LLP/Public Company etc
Certificate of registration in case of Private Limited Company/LLP/Public Company etc.
Advantages of GST Registration
GST (Goods and Services Tax) offers several benefits, both to the government as well as to businesses and consumers. Some of the key benefits include:
1. Simplified Tax system: The GST has simplified the tax system by replacing the several indirect taxes imposed by the federal and state governments with a single, unified tax.
2. Elimination of Cascade impact: By enabling companies to claim credits for taxes paid on inputs, the Goods and Services Tax (GST) removes the tax on tax cascade impact. As a result, the tax system is more economical and efficient.
3. Uniformity Across States: The Goods and Services Tax (GST) has established a consistent tax system nationwide, facilitating commercial transactions and lowering compliance expenses for enterprises that operate in several states.
4. Boost to GDP Growth: Over time, the GST may increase GDP growth by encouraging the more economical use of resources and lowering transaction costs.
5. Enhanced Compliance: Through digital initiatives including online registration, filing, and payment of taxes, GST has improved the tax administration and compliance process, resulting in heightened taxpayer compliance.
6. Benefit to Consumers: By removing several taxation levels and cascading consequences, the GST seeks to lower the overall tax burden on consumers. Over time, it has also led to a decrease in the cost of numerous goods and services.
7. Transparency and Accountability: The Goods and Services Tax (GST) has reduced tax evasion and the flow of illicit funds by improving reporting and monitoring procedures.
8. Supporting the government’s “Made in India” program, the Goods and Services Tax (GST) encourages domestic production by offering input tax credits on goods and services produced domestically.
9. Simplified Interstate Transactions: By removing entrance tariffs and other obstacles, the commodities and Services Tax (GST) has made it easier for commodities to travel across state boundaries.
Types of GST returns
Under GST (Goods and Services Tax) in India, a GST return is a document containing details of income which a taxpayer is required to file with the tax authorities. Here are the key aspects of GST returns:
✑ Types of GST Returns: There are several types of GST returns that taxpayers need to file based on their registration type and activities. Some common types include GSTR-1 (for outward supplies), GSTR-3B (summary return for monthly tax payments), GSTR-4 (for composition scheme taxpayers), GSTR-9 (annual return), etc.
✑ Frequency of Filing: The frequency of filing GST returns depends on the type of taxpayer. Regular taxpayers usually file monthly returns (GSTR-1, GSTR-3B) and an annual return (GSTR-9). Composition scheme taxpayers file quarterly returns (GSTR-4).
✑ Information Needed: Input tax credit (ITC) claimed, sales (outward supplies), purchases (inward supplies), tax collected, and tax paid are all commonly included in the information needed for GST filings. These specifics guarantee that the correct amount of tax due or reimbursement may be calculated.
✑ Filing Procedure: The GST (Goods and Services Tax) site is used to file GST returns electronically. After logging on, taxpayers fill out the appropriate return form with the necessary information, verify it, and electronically file the return.
✑ Late fines and Penalties: In the event that GST returns are not filed on time, there may be late fines and penalties. To prevent such repercussions, taxpayers must make sure they meet the deadlines given for each kind of return.
✑ Reconciliation: To guarantee correctness, GST returns must be compared to financial data. It is necessary to file rectification returns or modifications to address any disparities.
✑ Annual Return: Taxpayers must file an annual return (GSTR-9) that compiles the data provided in monthly or quarterly filings in addition to the normal monthly or quarterly forms.
✑ Nil Return: GST nil return shall be mandatorily filed even business operations are carried out in selected period. Meaning of Nil is No purchase and No sales transaction in selected period.
✑ Compliance and Documentation: Accurately submitting GST returns and adhering to GST requirements depend on the maintenance of correct records and documentation of transactions.
✑ In general, GST returns are essential to the GST system because they allow the tax authorities to determine tax liabilities, expedite claims for input tax credits, and guarantee tax compliance transparency.
Cancellation of GST Certificate
Cancellation can be completed by filing application through GST portal online. All the necessary documents shall be filed with government. Documents include declaration of closure of business, copies of last return filed, and details of stock held on the date of cancellation. Also, The Business taxpayer must file all pending returns and clear any pending liabilities before the GST registration is officially cancelled. If there are any GST dues, they must be settled.
Also need to final return in Form GSTR-10.
In certain cases, a tax officer can initiate the cancellation of GST registration. This can happen if:
– The taxpayer has not conducted any business for a continuous period (as specified by GST laws).
– The taxpayer has contravened provisions of the GST Act.
Revocation of Cancellation
Within 30 days after the cancellation order date, the taxpayer may request the revocation of the cancellation of a GST registration that has been canceled by a tax officer. This can be accomplished via the GST portal by applying for revocation together with justifications and supporting documentation justifying the registration’s continued validity.
Further it is advisable to consult or take assistance of an expert professionals like Anuvartana Services LLP for error less and smooth GST Registration in Pune.
If you want to register GST, Anuvartana Services LLP is best place for it.
For more information or assistance in registering GST in Pune, you can connect our experience experts for a free consultation. on 8975973470 or anuvartanaservices@gmail.com
Goods and Services Tax is a comprehensive indirect tax on the provision of goods and services.
GST can be cancelled by submitting application along with all necessary documents and filing of all pending forms and due liability with Government
Documents required for GST registration are PAN, Aadhar card, Passport size photograph, registered rent agreement, No Objection or any other documents as required by Government.
Businesses with a yearly turnover of more than Rs. 40 Lakhs (for goods) and Rs. 20 lakhs (for services) are required to register for GST and pay taxes on their taxable goods and services
There is no Government Fees applicable. However professional fees starting from Rs. 1,000.