GST Registration in Bhubaneshwar

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, Bhubaneshwar, 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).

Bhubaneswar, the capital city of Odisha, has witnessed remarkable economic growth in recent years, establishing itself as a prominent hub for IT, manufacturing, and tourism. This vibrant economic landscape has fueled a surge in business activities, necessitating a streamlined and efficient Goods and Services Tax (GST) registration process for entrepreneurs and business owners in the city.

Did you know: July 2023, Bhubaneswar has witnessed a remarkable surge in GST registrations, reflecting the state's burgeoning entrepreneurial spirit. Over 2.5 lakh businesses have embraced GST registration, showcasing their commitment to transparency and compliance. This upsurge is anticipated to fuel Bhubaneswar's economic growth and propel it towards becoming a leading commercial destination.

Benefits of GST Registration in Bhubaneshwar

Tax Law Compliance and Penalty Avoidance

Registering for GST ensures compliance with tax laws, reducing the risk of penalties and legal repercussions that might arise from non-compliance.

Input Tax Credit (ITC)

Registered businesses can claim Input Tax Credit, enabling them to offset the tax paid on purchases against the tax collected on sales. This helps in reducing the overall tax liability.

Nationwide Market Access

Uniform taxation under GST simplifies business operations across different states, promoting easier access to markets and facilitating interstate trade.

Enhanced Credibility

GST registration enhances a business's credibility among suppliers, customers, and financial institutions. It fosters trust and reliability, thereby improving business relationships.

Business Expansion

GST registration facilitates business expansion by simplifying interstate transactions and eliminating entry barriers, thus fostering growth opportunities.

Eligibility Criteria for GST Registration in Bhubaneshwar

• Service providers in Bhubaneshwar must register for GST if their annual service turnover exceeds ₹20 lakh
• Entities dealing with the supply of goods in Bhubaneshwar 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 Bhubaneshwar?

• 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)
• People or companies that sell goods on internet marketplaces such as Amazon and Flipkart
• Those who engage in international trade in products and services
• People or companies responsible for paying taxes on the supplier's behalf
• Entities moving from former tax regimes to the GST that were already registered.

Documents Required for GST Registration in Bhubaneshwar

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

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

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

• PAN card of all partners
• 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 Bhubaneshwar

• 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 Bhubaneshwar

• PAN card of Company
• Incorporation Certificate from MCA
• Memorandum of Association / Articles of Association
• PAN card and address proof of all directors and authorised signatory
• 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 Bhubaneshwar

Here is a clear outline on how to register for GST in Bhubaneshwar. Vakilsearch offers an easy online GST registration process in Bhubaneshwar 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 GSTregistration 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 Bhubaneshwar

While registration fees for GST vary from state to state, there are some categories that may be subject to them, such as non-resident taxable individuals or casual taxable persons. Contacting our specialists is always a good method to gain more details.

In order to avoid the fines specified in the Goods and Services Tax Act, 2017 for failure to comply with registration requirements, timely registration is essential. It is recommended to consult the official GST portal or recent notices for the most up-to-date information.

GST Renewal in Bhubaneshwar

The GST renewal process in Bhubaneshwar 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 Bhubaneshwar

Why Choose Vakilsearch for GST Registration in Bhubaneshwar?

Vakilsearch is a great choice for GST registration in Bhubaneswar or Odisha because they have specialised knowledge about the tax rules there. We offer careful guidance and support throughout the registration process, making sure to follow Odisha's specific tax laws accurately. Our experienced team knows how to handle the complexities involved, ensuring that businesses can smoothly complete their GST registration without any hassle. Vakilsearch is dedicated to providing reliable services, making them a trustworthy partner for businesses looking for seamless and compliant GST registration in Bhubaneswar or anywhere in Odisha.