GST Registration in Gujarat

GST Registration in Gujarat

The GST registration in Gujarat involves a supplier who takes on any business anywhere in India, and whose aggregate turnover exceeds Rs.20 lakhs in a financial year is subject to getting himself/herself registered to obtain a GSTIN.

In the GST Regime, companies whose turnover exceeds Rs. 40 lakhs are expected to register as a normal taxable person. This method of registration is known as GST registration. For several businesses, registration under GST is compulsory. If the company carries on business without filing under the GST regime, it will be considered as an offense under GST and large penalties will be charged on the businesses.

GST registration usually takes between 2-6 working days. We’ll assist you to register for GST in 3 simple steps. The CBIC (Central Board of Indirect Taxes and Customs) has announced the increase in the threshold for annual turnover from Rs 20 lakhs to Rs 40 lakhs. This has come into effect from 1st April 2019.

Benefits of GST Registration in Gujarat

• The biggest advantage of GST is an economically effective solution which has to face the companies in the unorganized sector.
• It decreases the logistic costs and concentration of warehousing amenities.
• GST will clarify tax administration, develop compliance, reduce economic distortions in production, business, and consumption.
• GST avoids the “cascading” of taxes, therefore cutting the product cost, and help trading become more ambitious.
• Resources will get a boost- The states and the center will have double oversight, and the number of tax-exempt goods will decrease.

Registration under Goods and Service Tax (GST) administration will present the following benefits to the business:

• The Will be formally branded as a supplier of goods or services.
• Proper accounting of expenses paid on the input of goods or services that can be used for the return of GST due to the number of goods or services or both by the company.
• Legally entitled to get tax from his purchasers and pass on the credit of the taxes paid on the goods or services provided to purchasers or recipients.

Checklist or requirements of GST registration in Gujarat

• Provisional ID received from State/Central Government authorities
• Password acquired from the state or central powers
• Valid email address
• Valid mobile number
• Bank account number
• Bank IFSC

What is the Gujarat GST code?

• The GST code for Gujarat is 24. It is also known as the GST state code.
• Every taxpayer will be given a state-wise. PAN-based GST taxpayer classification number (GSTIN) which will be 15 digits long. The first two digits of GSTIN will describe the state code according to the Indian Census of 2011. Every state has a different two-digit code.
• The next 10 digits of GSTIN will be the pan number of the taxpayer.
• The GST code will be an alphanumeric number i.e first 1-9 and then A-Z it will be allotted based on the number of registrations a legal organization, company, etc has within one state.
• The fourteenth digit currently has no usage and hence it will be ‘Z’ by default.
• The last digit will be a check code that will be utilized for the discovery of mistakes.

What is the Gujarat GST number?

• The State code of Gujarat is 24. The GST number in Gujarat starts with 24. If you observe any number starting with 24 that means this GST number applies to the state of Gujarat.
• GSTIN is known for Goods and Service Tax Identification Number. It is a 15-digit alpha-numeric PAN-based single code, which is allotted to every GST-registered character. This unique number will be assigned state wise. GSTIN is a tax registration number supporting GST. It will be used by the Government of India to track every business activity. It will also provide taxpayers with all services – from registration to filing taxes and maintaining all tax details.

List of GST rates for goods in Gujarat

The Goods and Services Tax(GST) council directed by the Union Finance Minister, concluded the tax rates for all services, except the lottery. Also, healthcare and education were already exempted from tax. The multiplicative of tax rates for assistance will include complexity to the compliance in the GST regime.

The GST council established GST rates for goods at nil rate, 5%, 12%, 18% and 28% on specific goods.

Nil Rates

• Goods: No taxes will be levied on products like Jute, raw meat, milk, buttermilk, real honey, new fruits, and vegetables, etc.
• Services: Hotels and resorts with tariff below Rs 1000 granting services have been released under GST with nil rates.

5% RATES

• Goods: Processed food items, footwear priced below Rs. 500/-, cream, branded paneer, frozen vegetables, pizza bread, rusk, kerosene, coal, medicines.
• Services: Transportation services like railways, air transport, and small restaurants.

12% RATES

• Goods: Apparels proposed below Rs 1000, meat goods, butter, cheese, ghee, Ayurvedic medicine, tooth powder, coloring books, cellphone, etc
• Services: Non-AC hotels, business class air tickets, fertilizer, labor contracts

18% RATES

• Goods: Slippers or shoes costing more than Rs 500, bidi, biscuits, seasoned processed sugar, pasta, cornflakes, James, prepared food mixes, mineral water, tissues, envelopes, tampons, notebooks, steel goods, camera, speakers.
• Services: AC hotels, telecom services, IT services

28% RATES

• Goods: Chewing gum, molasses, chocolate not, bidis, containing cocoa, waffle, pan masala, paints, deodorants, hair shampoo, dye, shaving creams, sunscreen, weighing machines, washing machines, ATM, vacuum cleaner, motorcycles, automobiles, aircraft for personal use.
• Services: 5-Star hotels, race club betting, cinema.

What are the documents required for GST Registration in Gujarat:

Proprietorship:

Here is the list of documents required for the GST registration in Gujarat:

• PAN card
• Aadhar card
• ID proof
• Business bank account statement

Partnership Firm:

• PAN Card of Partnership Firm
• PAN Card of Partners
• Aadhar Card of Partners
• Colour Photo of Partners
• Business Address Verification like Electricity bill / NOC / Rent Agreement, etc.
• Current Bank Account Statement / Cancelled Cheque

LLP:

• PAN card of LLP
• PAN card of partners
• Aadhar card of partners
• Colour photo of partners
• Business address proof like electricity bill or rent agreement
• Current bank account statement
• Certificate of incorporation
• LLP agreement

Company:

The above-specified documents are the official documents required by the GST administration. If the Government obliges any specific document for your GST filing, then the customer has to present that document.

• PAN card of the company
• PAN card of directors
• Aadhar card of directors
• Colour photo of directors
• Business address proof
• Current bank account statement
• Certificate of incorporation
• MOA, AOA

Timeline for GST Registration in Gujarat

After acceptance of all the expected documents, It takes 2 or 3 working days to make GST Registration in Gujarat. Timelines may differ depending on responses from the GST department & and the availability of reports from the client-side.

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