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GST Registration – A Complete Guide On GST Registration

Important for GST Registration – Complete Guide:- GST stands for Goods and Services Tax which is a complex type of the tax system. Every businessman has to register themselves under GST for making tax if it comes under taxable income. If a business supplies goods or various services with turnover more than Rs. 20 lakhs then you should register your business on GST portal. You should also know that if your business belongs to North Eastern and hill areas then you should need to go through registration process if the turnover of your business exceeded Rs. 10 lakhs.

Now, through this article, we are going to explain you about the GST and its registration process in brief. By reading the below information, you will be able to understand the GST, GST Registration Process, Eligibility for GST registration, your businesses turnover limit that required for GST registration, For registration what are the documents or details required under GST system, the fee requirement for GST registration, fine for not registering under GST (in case you are liable to pay GST), GSTIN explanation, multiple GST registrations requirement, Benefits of registering under GST portal etc. So, go through below information and clear your doubts.

Who needs to register under GST portal? | GST Registration

Latest Updates:

According to the 22nd GST Council meeting that holds on 6th October 2017, all the service providers in interstate services need not register for GST if their turnover is under 20lakhs annually( 20 lakhs for J&K). The turnover limit of Rs.10 lakhs is also set for some special states.  As per Notification Number: 7/2017 – Integrated Tax: One who makes the inter-state supply of their services to the registered person is exempted from GST registration in case the turnover is under Rs. 20 lakhs and Rs.10 lakhs for Special states.

So, if your business turnover exceeds the threshold limit as shown above then it required registering as a normal taxable person under GST portal. Apart from this, if your businesses already registered under any of the pre-GST tax systems such as VAT, Excise or Service Tax then it needs registration under GST.

GST Registration

For Pre-GST taxpayers

  • Every person before GST who registered under Excise, VAT, and Service Tax etc. needs to register under GST portal.
  • One who supply of goods and services in inter-state need GST registration.
  • Anyone who drives inter-state supply of goods**
  • Every Casual & Non-Resident taxable person need to go through registration.
  • E-commerce operator or aggregator or one who supplies via e-commerce aggregator.
  • A personwho supply online services from a place outside India to a person in India other than a registered taxable person.
  • Agents of a supplier.
  • The persons or a business comes under the tax system of reverse charge mechanism.
  • Input service distributor needs GST registration.

Documents & other details required for GST Registration

  • PAN is mandatory for GST registration (except non-resident person).
  • Phone number/ Mobile number.
  • A valid email-ID.
  • Jurisdiction details.
  • Bank account details.
  • Your business details.
  • An authorized signatory having a valid PAN detail etc.

GST Registration

GST Registration Fee under GST portal

Any business or taxpayers who came under taxable income need to register on GST portal. You should know that the GST registration fee is zero (0). You can get your GSTIN in free of cost.

Fine for not registering under GST system

The penalty or fine for not registering under GST is 10% of the total tax amount subjectively to a minimum of Rs.10, 000. The fine will at 100% of the tax money due when it deliberately evaded paying taxes.

How to get GSTIN?

Once you registered on GST portal, you will be allotted GSTIN which is a unique Goods & Services Tax Identification Number. With this numbers, you can exceed your tax details.

What is the need of multiple GST registrations?

In the case of a business that operates more than one state in India, then this business need a separate GST registration for each state. A business also needs for multiple GST registration for each business vertically if it has multiple businesses vertically in the state.

Note: This webpage is dedicated to the “gstgov.co.in”. So, you can bookmark this page and visit here again to get the latest updates.

 

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