Goods & Service Tax Registration

Make a smooth transition to the all-in-one tax by April 2017.

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  • We offer advice on all aspects related to GST and ensure the smartest transition to GST
  • We will ensure that all aspects of your business are compliant with GST
  • We will file your returns and complete all other compliances as and when required
  • Talk to our representatives to clear all your doubts regarding GST. Simply fill in the form and we’ll get in touch.
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What is GST Registration?


Starting April 1, 2017, Goods & Services Tax (GST) will apply to all Indian service providers (including freelancers), traders and manufacturers, once their supply turnover crosses Rs. 20 lakh. The GST is an all-in-one tax that subsumes a variety of state (VAT, Entertainment Tax, Luxury Tax, Octroi) and central taxes (CST, Service Tax, Excise Duty). GST is to be charged at every step of the supply chain, with complete set-off benefits available. The procedure for GST is completely online and requires no manual intervention. There will also be a composition scheme under GST for businesses with a supply turnover of less than Rs. 50 lakh.

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Features of GST Registration


Taxes Subsumed by GST

The GST will consolidate Central Excise Duty, Service Tax, VAT, Central Sales Tax, Customs Duty, Central Surcharge & Cess, Octroi, Luxury Tax, Entertainment Tax, Purchase Tax and a few other indirect taxes. The GST will apply on all goods and services. Even petrol and petroleum products will eventually be subject to it.

GST Rates

The GST council has decided on a four-tier structure. The GST rate will depend on the type of goods and services. Currently, the slab rates are 5%, 12%, 18% and 28%. The rate for gold is yet to be decided, and will likely to be the lowest of all.

CGST & SGST

GST will have a central component (Central Goods and Services Tax or CGST) and a state component (State Goods and Services Tax or SGST). Therefore, centre and state will levy GST on all entities. Inter-state transactions will attract the Integrated Goods and Services Tax (IGST), to be levied by the centre.

GST Threshold

Businesses with a supply turnover of over Rs. 20 lakh must register for GST. The key word here is supply, which takes into consideration any turnover, including stock-taking, discounts and freebies. In fact, even those supplying non-taxable goods must register for GST. Business making sales to other states must register for GST, regardless of turnover.

Documents Required for GST Registration


The list of documents required for registration of GST for various business are as follows:

Proprietorship

  • PAN Card and address proof of proprietor

LLP

  • PAN Card of LLP
  • LLP Agreement
  • Partners’ names and address proof

Private Limited Company

  • Certificate of Incorporation
  • PAN of Company
  • Articles of Association
  • Memorandum of Association
  • Resolution signed by board members
  • Identity and address proof of directors

FAQs on Goods & Service Tax Registration


Yes, you can apply for GST Registration online. You can simply register your business on the official GST portal and then scan and upload all the required documents. You will then receive an acknowledgement. A GSTIN will be generated on acceptance of the application and a temporary password and login will be sent. GSTIN is a unique 15-digit ID.
The exemption limit is a supply turnover of Rs. 20 lakh for businesses in all but the Indian states in the northeast region. Businesses in Arunachal Pradesh, Assam, Meghalaya, Manipur, Mizoram, Nagaland and Tripura must get a GST registration if their supply turnover exceeds Rs. 10 lakh. As mentioned above, this threshold limit applies only to businesses that operate within their home state. A business that conducts trade with another state must seek registration regardless of turnover.
The composition scheme would be applicable to businesses with a turnover of up to Rs. 50 lakh. Such taxpayers would pay a fixed percentage of its turnover and cannot avail of the benefits of input tax credit. Such businesses cannot collect tax from its customers. The floor rate of tax cannot be less than 1%.
Yes, GST applies to all service providers, manufacturers and traders. It extends to any dealers, bloggers, and writers, earnings from Google AdWords through PayPal, import-export businesses, all kinds of startups and companies, whether they are LLPs, proprietorships, partnerships or private limited companies. It also applies, regardless of the threshold limit, to:
1. Businesses operating outside their home state
2. A business not registered to the state
3. Businesses paying a reverse charge
4. Input service distributor
5. E-commerce operators
6. Aggregators selling services under own brand name (Ola, for example)
7. Online sellers
8. Suppliers or agents

Why Vakilsearch


10 Working Days

Just send in all your documents and we'll start processing your application. We will also begin advising you on the best way to transition your business to the GST era.

9.1 Customer Score

We make your interaction with government as smooth as is possible by doing all the paperwork for you. We will also give you absolute clarity on the process to set realistic expectations.

160 Strong Team

Our team of experienced business advisors are a phone call away, should you have any queries about the process. But we'll try to ensure that your doubts are cleared before they even arise.