GST Registration In jaipur

GST REGISTRATION

WHAT IS GST REGISTRATION?

Goods and service tax is a new taxation system in India that came into force on 1 July 2017.

GST registrationrefers to the process in which businesses involved in buying and selling goods and services need to register for GST.

Following this process is mandatory for business entities having turnover above Rs. 20 Lakhs (for services) and Rs. 40 Lakhs (for goods supply).

For certain businesses, registration under GST is mandatory. If the organization carries on business without registering under GST, it will be an offense under GST and heavy penalties will apply.

Generally, it takes two to six days for the registration process to be completed.

\Types of GST registration

Normal taxpayers

Most businesses in India fall under this category.

Businesses whose turnover exceeds Rs 40 lakh in a financial year are required to register as normal taxable persons. However, the threshold limit is Rs 10 lakh if you have a business in the northeastern states, J&K, Himachal Pradesh, and Uttarakhand.

Casual taxable individual

Occasional or seasonal businesses need to register their businesses under GST for this category. Businesses need to make a deposit equal to the GST liability from the occasional operations.

The tenure for registration is 3 months. However, businesses can apply for renewal and extensions.

Non-resident taxable individual

Individuals who reside outside India but occasionally supply goods or services as agents, principals, or in other capacities to Indian residents are liable to file for registration under this category.

The business owner must pay a deposit equal to the expected GST liability during the GST active tenure. The normal tenure is 3 months. However, individuals can extend or renew the registration if required.

Composition registration

Businesses with an annual turnover of up to Rs 1 crore are eligible for registration under the composition scheme. Under this scheme, businesses have to pay a fixed amount of GST irrespective of their actual turnover.

Who All Should Register for GST?

GST registration is not compulsory for those engaged in the supply of agricultural products from farming, the only exemption in the supply of goods and services or supplies that are fully covered under reverse charge. The registration tax under the GST composition scheme helps small taxpayers reduce the tax burden. However, GST registration is mandatory for the following individuals/institutions:

• Those who are registered under the pre-GST law (excise, service tax, VAT, etc.).

• Casual taxable person / Input Service Distributor (ISD)

• Online data retrieval or access service providers

• Every e-commerce aggregator

• Individuals paying tax under the reverse charge mechanism

• Agents who work for a supplier or a service distributor

• TDS/TCS deductor

• Suppliers who work with e-commerce aggregators

• Online data retrieval or access service providers

What is GST Registration Process?

The Goods And Services Tax (GST) Registration services at ClearTax helps you to get your business GST registered and get your GSTIN.

ClearTax GST experts will guide you on the applicability and compliances under GST for your business and get your business registered under GST.

What are the Benefits of GST Registration?

GST registration comes with several benefits for individuals/business entities. Given below are some of the benefits of registering as a GST taxpayer:

• GST registration serves as proof that acknowledges your business as a certified one for the provision of goods and services.
• You get the right to collect tax from your customers and pass on the credit of the paid taxes to the customers/suppliers.
• You can also get the benefit of a composition scheme under GST to reduce the burden of compliance, being a small taxpayer.

What are the documents required for GST registration?

For Proprietorship Firm Registration

• Owner’s PAN card

• Owner’s Aadhar card

• Owner’s photo

• Campus electricity bill

• Letter of authorization for signature

• Bank statement / canceled check

• Aadhaar card of owners/directors/partners

For Partnership / Private Limited Company

• PAN card of company/partnership

• PAN Card of Director / Partner

• Aadhaar Card of Director / Partner

• Photo of director/partner

• Campus electricity bill

• Involvement of participation deed/certificate

• letter of authorization

GST Registration Procedure

GST registration can be done online through the government portal – https://www.gst.gov.in/, or a GST Seva Kendra. Given below are the steps in the online GST registration process:

1. Visit the GST portal using the link – https://www.gst.gov.in/.

2. Under the ‘Services’ tab, click ‘Registration’ -> ‘New Registration’.

3. The online GST registration form is divided into two parts – Part A and Part B.

In Part A,

1. Select ‘Taxpayer’ from the drop-down options.

2. Select your state and district in which you want to use for GST registration.

3. Enter various details, including the business’s legal name, email address, PAN, and mobile number in the respective fields.

4. Verify the entered information via OTP.

5. On completing Part A, note down the TRN or Temporary Reference Number that you receive after verification.

In Part B,

1. To start GST registration with Part B, log in using your TRN and validate the process by entering the correct CAPTCHA code.

2. Verify the process by entering the OTP sent to the registered mobile number or email address. This will redirect you to the GST registration page.

3. Submit business-related information, including the company name, PAN, the state chosen for GST registration, and the date when you started the business.

4. Enter the required information in the given horizontal tabs of Promoters/Partners, Authorised Signatory, Authorised Representative, and others.

5. After you are done with entering the required information and uploading documents, click ‘Save and Continue.

6. After successful submission of your application, sign it digitally and proceed further.

7. An ARN or Application Reference Number will be sent to you, confirming your GST registration.

GST Registration Fees

GST Registration Fees and pricing for online goods and services tax registration vary according to the GST services of the professional. All registered businesses must file monthly, quarterly, and/or annual Goods and Service Tax Returns depending on the type of business. Different returns are required to be filed by special cases such as composition dealers.

What are the Penalties Charged for not Opting for GST Registration?

Any offender who deliberately avoids registering under the GST regime has to pay a penalty of 100% of the tax due or ten thousand rupees, whichever is higher. Similarly, those who avoid filing GST returns are liable to pay a penalty of tax due, subject to a minimum penalty of ten thousand rupees.

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