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What is GST?
GST is a product of the biggest tax reform in India that has tremendously improved the ease of doing business and also increased the taxpayer base in India by including millions of small businesses under one uniform tax system. The tax complexities have reduced considerably due to the introduction of GST in India. As multiple tax systems are abolished and subsumed into a single, simple tax system under GST.
The GST regime mandates that all the entities that are involved in buying or selling the goods or providing services or both are required to register and obtain the GSTIN.
Who required to take GST Registration?
- Taxpayers Registered in Previous Laws: If any individual, companies, or other entities were registered under the previous tax laws like Excise Duty, Service Tax, VAT and CST etc., they must register themselves under GST.
- Turnover: If your business Gross Turnover cross the limit of Rs. 20 Lakh at any point of time in a year, it’s mandatory to get GST Registration. For some special category States like Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Pondicherry, Telangana, Sikkim, Tripura, and Uttarakhand the limit of Gross Turnover is Rs. 10 Lakh. Further, the limit has increased to Rs. 40 Lakh other than above special category states if the business is only selling goods and not in the activities of rendering of services.
- Inter State Supplier of Goods: If any Person Sell Goods to one State to another State are compulsory to take GST Registration.
- Part-Time Exhibition/Event Seller: If any business does not have any permanent place of business, and they perform business activities in many states, then they can apply for the casual taxpayer under the GST Registration. It will be valid for a maximum of 90 days (3 months). This type of person called casual taxpayer under Central GST Act, 2017.
- Non-Resident Indians (NRIs): If you are a non-resident person in Indian or handling the business of NRI in India, then it is compulsory required to apply for GST Registration.
- E-Commerce Seller: If you are running business through eCommerce platforms like Amazon, Flipkart, Meesho, Shopify, Myntra etc. then you must register your business under GST.
- Input Tax Distributors: If you are an Input Tax Distributor then it is required to get GST Registration to carry forward the benefits of input tax credit (ITC) under GST Law.
- Reverse Charge Mechanism (RCM): A person require paying tax under RCM, require getting GST registration.
- Agent of Suppliers: Agents selling the goods of other business and sale on commission basis are compulsory to take GST Registration.
- Govt Agencies: Govt Agencies and Govt Companies are compulsory to take GST Registration.
- E-Commerce Aggregator Portal: eCommerce Sellers of the leading aggregator portal like Amazon, Flipkart, Meesho, Ajio etc. are required to take GST Registration.
- Online Portal Outside India: If you are a “Software as a Service (SaaS)” provider company and providing information & database access from outside India to Indian visitors, then it is compulsory to take GST Registration.
Time period of processing of application of GST Registration
GST department can take time maximum of 21 working days (excluding Saturday, Sunday, and Gazetted holidays) if the application is authenticated with Aadhar OTP of Proprietor/Partner/Director (as the case may be). It will take a maximum of 60 working days (excluding Saturday, Sunday, and Gazetted holidays) if the application is not authenticated with Aadhar OTP of Proprietor/Partner/Director (as the case may be).
Documents required to get GST Registration
- Scanned Copy of Aadhar Card of Proprietor / Partners of Firm / Directors of Company (as the case may be).
- Scanned Copy of PAN Card of Proprietor / Partners of Firm / Directors of Company (as the case may be).
- Passport Size photos of Proprietor / Partners of Firm / Directors of Company (as the case may be).
- Scanned Copy of PAN Card of Firm / Company (if the applicant is Firm or Company).
- Sale Deed / Convenance Deed / Rent Agreement (if business place on rent) as address proof of place of business.
- Utility Bill i.e., Electricity Bill / Property Tax Receipt / Water Bill (anyone) as proof of ownership of the place.
- Constitution of Business i.e., Partnership Deed / Certificate of Incorporation and Agreement of LLP / MOA & AOA and Certificate of Incorporation of Company (as the case me be).
- Area of business activities.
- Contact Details (mobile number and email ID of Proprietor / Partners / Directors (as the case me be) (Note: Active Mobile No. should link with Aadhar of Proprietor/Partner/Director to process application earlier).
- Contact details of business / Firm / LLP / LLP / Company.
How myaccountants.in can help you to get GST Registration of your Business?
myaccountants.in has knowledgeable and experienced team members to guide you and resolve your queries related to everything about GST registration. You can follow the steps given below to get register your business under GST through us.
Step 1. Book your service by making payment for selected service and you can ask queries related to the service in case of any doubt.
Step 2. After receipting your payment, our team member will contact you to understand your requirements and guide you to send the required documents.
Step 3. Our team will start the process of registration on the same day you provide the required documents and information.
Step 4. Our team member will ask the OTP, which you will get on the number linked with your Aadhar Card, to authenticate the application. After the successful submission of the registration application, our team will provide the reference number of the same.
Step 5. After the successful process of the application by the GST department, our team will send you the GST Registration Certificate on your email ID.
General Questions and Doubts related to GST Registration
Q 1. Does Aadhar Card compulsory for GST Registration?
Ans. Yes, Aadhar Card is compulsory to get GST Registration and an active mobile no. must like with Aadhar number to authenticate the GST Registration Application thought OTP sent on that mobile number. If the mobile number is not linked with Aadhar, in such case GST department can take time of maximum 60 working days to issue GST Registration.
Q 2. Validity of GST Registration?
Ans. GST Registration is valid till the existence of enterprise (other than the case of temporary taxpayer i.e., casual taxpayer and non-resident taxpayer) and there is no need to renew the registration. Enterprise can surrender the GST registration at its will.
Q 3. Who is not required to take GST Registration?
Ans. Businesses who fall under the Reverse Charge Mechanism (RCM) Service list provided by Govt and businesses who specially deal in exempted and non-taxable goods or providing the services.
Q 4. What is a Reverse Charge Mechanism (RCM)?
Ans. Reverse Charge Mechanism in GST is the mechanism where the service recipient pays GST on receipt of specified services on behalf of the service provider. Some specified services are Goods Transport Agencies (GTA), Security Services, Advocate Services, Rental Cab, etc.
Q 5. Can a person get multiple GST Registration in one state?
Ans. Yes, every person can get multiple GST registration in one state.
Q 6. What is GST Composition Scheme?
Ans. If any business has Gross Turnover less than 1.5 Crore is eligible to opt composition scheme (except in the case of Special Category States like Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Uttarakhand, where the limit is 75 Lakh rupees to opt for the Composition Scheme under GST Registration). In composition scheme, the taxpayer can not avail the Input Tax Credit (ITC) on purchase/receipt of Goods / Services and such taxpayer must collect and depot GST from its customer at a fixed rate of 1% (in case of manufacturing and trading of goods), 5% (in case of restaurants not serving alcohol) and 6% (in case of service providers).
Q 7. Whether all the businesses eligible for the composition scheme?
Ans. No, all the businesses are not eligible even they have less than 1.5 Crore / 75 Lakh. A business engaged in the activities of Restaurant, interstate business, eCommerce sellers, Importer of Goods and Supplier of non-taxable goods is not eligible to opt composition scheme.