GST Registration In Telangana

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 in In Telangana is a mandatory step for businesses operating within the state. Businesses exceeding this threshold are required to apply for GST registration through the online portal by providing essential details such as PAN, Aadhaar, business incorporation documents, bank account information, and proof of address.

Once the application is submitted, it undergoes verification by the authorities. Upon successful verification, a unique GST identification number (GSTIN) is allocated to the applicant. This GSTIN enables businesses to comply with tax regulations, legally collect GST from customers, and claim input tax credits. Moreover, it ensures adherence to Telangana's GST laws.

Post-registration, businesses must file regular GST returns within the specified timelines. This process involves reporting their sales, purchases, and tax payments to maintain compliance with the state's taxation framework. Overall, GST registration in Telangana is integral for businesses to operate legitimately within the purview of the GST regime and fulfil their tax obligations seamlessly.

Did You Know:
Telangana has over 10.5 lakh GST registered taxpayers, making it one of the most compliant states in India. The majority of these taxpayers are small businesses with a turnover of less than ₹20 crores. The number of GST registrations in Telangana is steadily increasing, reflecting the growing popularity of the GST regime.

Benefits of GST Registration in Telangana

Access to State-Specific Schemes

The Telangana government offers various state-specific schemes and incentives for GST-registered businesses, such as the Industrial Incentive Scheme and the IT Park Policy.

Streamlined Taxation Services

GST Registration proves beneficial for small businesses by circumventing lengthy taxation procedures. Entities with a turnover below ₹20 lakhs for service providers and ₹40 lakhs for goods providers are exempt from GST, easing their tax obligations significantly.

Facilitating Small Businesses with Composition Scheme

The GST Composition Scheme specifically aids small businesses with a turnover ranging from ₹20 to ₹75 lakhs. This provision offers the option to reduce tax liabilities, lightening the tax and compliance load for numerous small-scale enterprises.

Seamless Online Procedures

The GST process, encompassing registration and return filing, operates entirely online, ensuring a user-friendly experience. Particularly advantageous for startups, this streamlined approach eradicates the need to navigate multiple registrations such as VAT, excise, or service tax, eliminating unnecessary bureaucracy.

Reduced Compliance Burden

Previously, businesses contended with separate returns and compliances for VAT and service tax. However, GST brings about a unified tax system, necessitating just one consolidated return. This reduction in compliance formalities simplifies operations for businesses, promoting ease of adherence to regulatory norms.

Latest Updates:
The Telangana government has recently announced a simplified process for GST registration for small businesses with a turnover of less than ₹20 crores.

Businesses can now register online through the simplified form GST REG-01 on the GST portal. This simplified process will reduce the time and complexity of GST registration for small businesses, encouraging them to come under the GST umbrella.

Eligibility Criteria for GST Registration in Telangana

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

• 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 Telangana

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

• 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 Telangana

• 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 Telangana

• 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 Telangana

• 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 Telangana

The below process will clearly explain how to register for GST in Telangana . Vakilsearch offers an easy online GST registration process in Telangana through an user-friendly website. Here are 4 easy steps we do:

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 Telangana

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 Telangana

The GST renewal process in Telangana 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 Telangana.

Why Choose Vakilsearch for GST Registration in Telangana

Choosing Vakilsearch for GST Registration in Telangana ensures a seamless process guided by experts, simplifying the complex registration through their hassle-free online platform. Our commitment to timely compliance, transparent pricing, and comprehensive support beyond registration distinguishes them. Vakilsearch's customer-centric approach prioritises satisfaction, offering expert guidance, ongoing assistance, and personalised service, making them a reliable choice for businesses seeking efficient GST registration services in Telangana.