Goods and Services Tax, also known as GST came into effect from July 1, 2017. It is applicable on all service providers (including freelancers), traders and manufactures. It has subsumed the majority of the indirect taxes like Service Tax, Excise Duty, CST and state taxes like Entertainment Tax, Luxury Tax, Octroi, and VAT.
GST Registration can be obtained by:
– Sole Proprietorship firm,
– Partnership firm,
– Private Limited Company,
– Limited Liability Partnership firm,
– Hindu Undivided Family, and
– Any other legal entity
GST Registration has to be obtained by:
– Business turnover in case of services exceeds Rs. 20 lacs (Rs. 10 lacs for north-eastern states) and in case of goods, turnover exceeds Rs. 40 lacs.
– Person who was registered under the earlier laws (Excise laws, VAT, etc)
– Person supplying goods inter state
– Person deducting TDS under GST laws
– Person supplying goods via e-commerce
– Casual taxable person
– Non resident taxable person
– Person paying tax under Reverse Charge mechanism
– Input Service Distributor
– E-commerce operator or aggregator
Even if the person is not required to obtain GST registration mandatorily, he may still apply for it voluntarily.
Documents Required for Goods and services tax Registration are:
– PAN Card of the company or firm
– Partnership Deed or Incorporation Certificate
– PAN Card, Aadhaar Card and Voter Ids of promoters and/or partners
– Address proof of place of business
– Bank account statement of the company or the firm
The Goods and services tax Registration can be done online by following these steps:
GST Registration process is divided into 2 parts: Part A and Part B
The CBIC vide Notification No. 94/2020-Central Tax, dated December 22, 2020 issued Central Goods and Services Tax Rules (Fourteenth Amendment), 2020 amending Rule 9 of the Central Goods and Services Rules, 2017 Increased the time period to approve the grant of registration to the applicant from ‘three’ working days to ‘seven’ from the date of submission of the application for the registration.
The issuing authority of GST can also ask for additional documents/clarifications in Form GST REG-03 for granting GST registration. The CBIC has also extended this current period of seeking additional information from three working to seven working days from the date of submission of the application for the registration.
CBIC has also issued directions for businesses taking Goods and Services Tax(GST) registration without Aadhaar authentication will have to undergo physical verification of their premises.
Contact us today at TaxHelpdesk to get your GST Registration without any hustles.
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