What is GST Registration

Under Goods And Services Tax (GST), businesses whose turnover exceeds the threshold limit of Rs.40 lakh or Rs.20 lakh or Rs.10 lakh as the case may be, must register as a normal taxable person. It is called GST registration.

For certain businesses, registration under GST is mandatory. If the organization carries on business without registering under GST, it is an offence under GST and heavy penalties will apply.

GST registration usually takes between 2-6 working days. Team Clear can help you obtain GST registration faster in 3 easy steps.

GST Registration Online: Documents Required, Limit, Fees & Process

Complete Online Document Submission & Application Tracking

Secure GST Identification Number

Filing of Application for GST Registration

Dedicated manager to process your GST registration end to end

CA Assisted GST Filing for all your GST needs

Completely Online – No need to visit office

All about the GST registration process

GST registration can be obtained on the GST portal. One must apply for GST registration in Form REG-01 on the GST portal

However, the GST registration services at MrTaxperthelps you to get your business GST registered and obtain your GSTIN.

Documents Required for GST Registration

PAN of the Applicant

Aadhaar card

Proof of business registration or Incorporation certificate

Identity and Address proof of Promoters/Director with Photographs

Address proof of the place of business

Bank Account statement/Cancelled cheque

Digital Signature

Letter of Authorization/Board Resolution for Authorized Signatory

Who should obtain the GST registration?

In India, the Goods and Services Tax (GST) is a comprehensive indirect tax that has replaced various taxes at the central and state levels. GST registration is mandatory for certain businesses and individuals. Here are the criteria for obtaining GST registration in India:

Threshold Turnover: GST registration is mandatory for businesses whose aggregate turnover exceeds the prescribed threshold limit. As of my last knowledge update in January 2022, the threshold limits were as follows:

• For Goods: Rs. 40 lakhs (Rs. 20 lakhs for special category states)

• For Services: Rs. 20 lakhs (Rs. 10 lakhs for special category states)

It's essential to check the latest threshold limits, as they may be subject to change.

Inter-State Supply: Regardless of turnover, businesses involved in inter-state supply of goods and services are required to obtain GST registration.

Casual Taxable Person or Non-Resident Taxable Person: Individuals or businesses engaged in a supply of goods or services on a casual basis or non-residents conducting business in India are required to register for GST.

Input Service Distributor: If there is more than one business vertical within the same state under the same PAN, and one acts as an Input Service Distributor (ISD), it must obtain GST registration.

E-commerce Operators: Online platforms facilitating the supply of goods or services are required to obtain GST registration, regardless of turnover.

Tax Deductors at Source (TDS) and Tax Collectors at Source (TCS): Entities responsible for deducting or collecting tax at source are required to register for GST.

Voluntary Registration: Even if a business does not fall under the mandatory registration criteria, it can choose to register voluntarily to avail of the benefits and comply with GST regulations.

GST Registration Fees

GST Registration is a tedious 11 step process that involves the submission of many business details and scanned documents. Although there are no fees prescribed under the GST law for obtaining GST registration on the GST portal on your own, you can save a huge time and effort by purchasing the GST registration plan with MrTaxpert . You can opt for taxpertGST Registration services where a GST Expert will assist you, end to end with GST Registration

Penalty for not obtaining GST registration

Failure to obtain GST registration in India when required can lead to penalties and consequences. Here are some key points regarding the penalty for not obtaining GST registration:

Late Registration Penalty:

• If a person or business liable to register under GST fails to obtain registration within the prescribed time frame, a penalty may be imposed. The penalty is Rs. 100 per day of delay, subject to a maximum of Rs. 5,000.

Penalty for Not Obtaining Registration:

• If a taxable person conducts business without obtaining mandatory GST registration, a penalty may be levied. The penalty can be up to 100% of the tax due.

Continued Non-Compliance:

• Continued non-compliance with GST registration requirements may lead to higher penalties and legal consequences. The authorities may take strict actions to ensure compliance.

Interest on Late Payment:

• In addition to penalties, interest may be charged on the late payment of GST. The current rate of interest is 18% per annum, calculated on a daily basis.

At MrTaxpert , we value our partnership and are committed to providing you with a seamless and efficient experience. To enhance our services and ensure compliance with tax regulations, we kindly request you to consider registering your GST with us.