GST Registration In Puducherry

GST is an indirect tax reform in India. It was introduced on 1 July 2017. It replaces excise duty, service tax, and value added tax (VAT) with a unified tax system. GST is a digital version of VAT that allows you to track goods and services. VAT and GST have the same tax slabs. The GST Act of 2017 allows the Central Government to impose and collect taxes on the sale of goods or services within a single state. It covers all aspects and matters related to this taxation framework.

Introduction

The Goods and Services Tax (GST) registration process in India, Puducherry, aligns with the national framework established by the Indian government. It involves submitting a PAN card, proof of business registration, bank account details, and address proof. Once registered, entities are assigned a unique GSTIN (Goods and Services Tax Identification Number).

Puducherry GST registration plays a pivotal role in fostering economic growth within the state. By requiring businesses to register for GST upon exceeding the set turnover threshold, the tax system aims to establish fairness and formalise the economy. This formalisation boosts tax adherence, significantly bolstering the state's revenue. As more Puducherry-based enterprises enrol in GST, it streamlines inter-state trade, diminishing hurdles and broadening market reach. Additionally, Puducherry GST registration fosters transparency, accountability, and tax system efficiency, fostering an environment conducive to economic growth and attracting investment prospects.

The GST registration process in Puducherry not only ensures adherence to tax regulations but also allows businesses in Puducherry to access wider markets, capitalise on input tax credits, and optimise their operations. This formalisation aids in the overall development of the state's economy by encouraging business growth, facilitating smoother trade practices, and ultimately contributing to the economic prosperity of Puducherry.

Did You Know:
Puducherry has seen over 1.1 lakh businesses register for GST. Over ₹1,000 crore in GST revenue was collected by Puducherry during the 2022-23 financial year. Across India, GST registration has made it simpler for businesses to conduct business.

Benefits of GST Registration in Puducherry

Legal Compliance

GST registration ensures compliance with tax laws, making businesses legally authorised to collect taxes on their sales and file returns as required by the GST regulations.

Input Tax Credit

Registered businesses in Puducherry can claim input tax credit on taxes paid on their purchases, thereby reducing their overall tax liability. This fosters cost savings and improves the competitiveness of businesses in Puducherry.

Interstate Transactions

GST registration facilitates seamless inter-state trade by eliminating multiple taxes and enabling a unified tax structure, making it easier and more cost-effective to conduct business across state borders.

Business Expansion

GST registration enhances credibility and trust among customers and suppliers, potentially leading to increased business opportunities and expansion avenues within Puducherry and beyond.

Government Contracts and Tenders

Registration can be a prerequisite for participating in government tenders and contracts. GST registration often serves as a mandatory criterion for eligibility to bid for certain government projects or contracts in Puducherry.

Latest Updates:
The registration criteria for Goods and Services Tax (GST) in Puducherry has not changed. Businesses with an aggregate turnover of more than ₹20 lakh in the supply of goods or ₹5 lakh in the supply of services are required to obtain GST registration. There is no validity period for the GST registration certificate; it remains valid until it is cancelled. However, GST registrations for casual taxable persons and non-resident taxable persons are temporary and come with an expiry date.

Eligibility Criteria for GST Registration in Puducherry

• Service providers in Puducherry must register for GST if their annual service turnover exceeds ₹20 lakh
• Entities dealing with the supply of goods in Puducherry require GST registration if their turnover crosses ₹40 lakh annually
• Inter-state taxable supply
• Casual taxable persons
• Non-resident taxable persons.

Who Is Required to Register for GST in Puducherry?

• Individuals engaged in occasional or seasonal business activities requiring GST registration
• Individuals not residing in India but involved in short-term business transactions requiring GST registration
• Businesses engaged in the supply of goods or services across different states in India
• Individuals or entities representing a registered taxpayer in their business transactions
• Businesses operating online platforms facilitating the buying and selling of goods or services
• Entities responsible for deducting or collecting Tax Deducted at Source (TDS) or Tax Collected at Source (TCS)
• Individuals or businesses selling goods through online marketplaces like Amazon and Flipkart
• Individuals involved in the cross-border trade of goods and services
• Individuals or businesses liable to pay taxes on behalf of the supplier
• Entities previously registered under earlier tax regimes transitioning to GST.

Documents Required for GST Registration in Puducherry

The following documents are required for GST registration of Sole Proprietor / Individual in Puducherry

• PAN and Aadhar card of the owner
• Photograph of the owner (JPEG format, max size: 100 KB)
• Bank account details
• Address and ID proof

The following documents are required for GST registration of LLP and Partnership Firms in Puducherry

• PAN card of all partners (including managing partner and authorised signatory)
• Copy of partnership deed
• Photograph of all partners and authorised signatories (JPEG format, max size: 100 KB)
• Address proof of partners (Passport, driving license, Voters identity card, Aadhar card, etc.)
• Aadhar card of authorised signatory
• Proof of appointment of authorised signatory
• Registration certificate / Board resolution of LLP (for LLP only)
• Bank account details
• Address proof of principal place of business.

The following documents are required for GST registration of HUF (Hindu Undivided Family) in Puducherry

• PAN card of HUF
• PAN card and Aadhar card of Karta
• Photograph of the owner (JPEG format, max size: 100 KB)
• Bank account details
• Address proof of principal place of business

The following documents are required for GST registration of Company (Public and Private) (Indian and foreign) in Puducherry

• PAN card of Company
• Certificate of incorporation from Ministry of Corporate Affairs
• Memorandum of Association / Articles of Association
• PAN card and Aadhar card of authorised signatory (must be Indian, even for foreign companies/branch registration)
• PAN card and address proof of all directors
• Photograph of all directors and authorised signatory (JPEG format, max size: 100 KB)
• Board resolution appointing authorised signatory / Any other proof of appointment of authorised signatory (JPEG / PDF format, max size: 100 KB)
• Bank account details
• Address proof of principal place of business.

Note: The documents required may vary based on the type of Business registered for GST. For more information get on call with our experts. They will help you with the tailor made information.

Process of Registering GST in Puducherry

Here is a clear outline on how to register for GST in Puducherry. Vakilsearch offers an easy online GST registration process in Puducherry through an user-friendly website. Here are 4 easy steps on how we do it:

Step 1: Get in touch with our experts

Book a slot with our GST experts and resolve all your queries.

Step 2: Provide Business Information

Provide the required documents and fill in essential business details such as business name, state, PAN card details for initiating the registration process.

Step 3: GST filing

Our team will file for GST registration on the online portal on your behalf. You will receive an OTP on filling the forms.

Step 4: Get your Application Reference Number (ARN) and GST certification done

Our team will provide you with the ARN after successful verification. Subsequently after the GST registration is done the certificate will be provided.

Note: All the documents should be submitted within a time frame and accurate as per the government guidelines to avoid delay. The GST certificate will be delivered directly by the Indian government. Vakilsearch will initiate and guide you through the process.

GST Registration Fees in Puducherry

Generally, the GST registration fee differs from one state to another, but certain categories like casual taxable persons or non-resident taxable persons might incur registration fees. You can always get in touch with our experts for more information.

Timely registration is crucial to avoid penalties outlined in the Goods and Services Tax Act, 2017 for non-compliance with registration requirements. For the most current information, it's advisable to refer to the official GST portal or recent notifications.

GST Renewal in Puducherry

The GST renewal process in Puducherry involves visiting the official GST portal and navigating to the 'Services' tab, where the 'Application for Renewal of Registration' option is available. Click on the renewal application, provide the necessary details, and submit the required documents, including any updated information or changes in business particulars.

After completing the form and uploading relevant documents, verify the information provided and proceed to submit the renewal application. The status of the renewal can be tracked on the GST portal, and upon successful processing, a renewed GST certificate will be issued for continued compliance with GST regulations in Puducherry.

Why Choose Vakilsearch for GST Registration in Puducherry?

Vakilsearch stands out as a reliable choice for GST registration in Puducherry due to its streamlined and efficient services. Their experienced professionals ensure a hassle-free registration process, guiding businesses through the complexities of GST compliance.

Vakilsearch's expertise lies in providing comprehensive assistance, offering end-to-end support, from document preparation and verification to submission, thus enabling businesses to swiftly obtain their GST registration. Additionally, our commitment to accuracy and adherence to regulatory guidelines makes them a trusted partner for businesses seeking a smooth and reliable GST registration experience in Puducherry.