GST Registration in Hyderabad

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, Hyderabad , 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).

Propel your Hyderabad business towards a prosperous future by embracing the Goods and Services Tax (GST) registration process. GST, the cornerstone of India's tax reforms, has revolutionised the business landscape and emerged as a catalyst for Hyderabad's economic resurgence. By registering for GST, Hyderabad's businesses can unlock a plethora of opportunities, including simplified tax procedures, reduced compliance costs, and seamless trade, fostering.

Did You Know:
The number of registered GST taxpayers in Hyderabad has increased from 1,35,238 in 2017-18 to 3,28,456 in 2022-23, demonstrating the city’s proactive embrace of the GST regime. Hyderabad exhibits an impressive average annual growth rate of 39% in GST registrations, reflecting the city’s commitment to GST compliance and its drive towards a digital economy.

Benefits of GST Registration in Hyderabad

Government Contracts and Tenders

Businesses with GST registration become eligible for government tenders and contracts, providing new avenues for business growth and development.

Reduced Tax Liability for Small Businesses

GST benefits small businesses with a turnover below the threshold by reducing their tax liability, thereby supporting their financial stability and growth.

Access to Input Credit

Registration allows access to input credit on goods and services, ultimately minimising the overall tax burden for businesses.

Competitive Edge

Compliance with GST regulations showcases a business's commitment to operating within legal frameworks, offering a competitive advantage in the market.

E-commerce Benefits

For e-commerce businesses, GST registration is crucial for smoother operations and compliance with tax regulations, enabling them to conduct business seamlessly within legal boundaries.

Latest Updates:
The Hyderabad government has intensified its GST registration drive, targeting unregistered businesses and encouraging them to comply with the tax regime. The state has conducted workshops and awareness campaigns to educate businesses about the benefits of GST registration, such as simplified tax procedures and ease of doing business. Additionally, the government has streamlined the registration process, making it more accessible for businesses. These efforts aim to expand the state's GST taxpayer base and boost revenue collection.

Eligibility Criteria for GST Registration in Hyderabad

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

• 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 Hyderabad

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

• 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 Hyderabad

• 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 Hyderabad

• 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 Hyderabad

• 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 Hyderabad

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

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 Hyderabad

The GST renewal process in Hyderabad 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 Hyderabad

Why Choose Vakilsearch for GST Registration in Hyderabad?

Vakilsearch might be a favourable choice for GST registration in Hyderabad due to its potential expertise and reputed reliability in providing streamlined and efficient legal services. Our commitment to customer satisfaction and adeptness in navigating the complexities of the registration process might ensure a smooth and hassle-free experience for individuals or businesses seeking GST registration. Vakilsearch's potential appeal for GST registration in Hyderabad provides accessibility and user-friendly approach. Our online platform offers convenience, allowing easy access to the registration process from anywhere in Hyderabad.