Online GST Registration
Registration starts @ Rs. 1499 (all inclusive)
GST registration is mandatory for all entities involved in the buying or selling or providing of services in India. IndiaCompliances offers an easy online process to register for GST
GST is the biggest tax reform in India, tremendously improving ease of doing business and increasing the taxpayer base in India by bringing in millions of small businesses in India. By abolishing and subsuming multiple taxes into a single system, tax complexities would be reduced while tax base is increased substantially. Under the new GST regime, all entities involved in buying or selling goods or providing services or both are required to register for GST. Entities without GST registration would not be allowed to collect GST from a customer or claim input tax credit of GST paid or could be penalised. Further, registration under GST is mandatory once an entity crosses the minimum threshold turnover of starts a new business that is expected to cross the prescribed turnover.
As per the GST Council, entities in special category states with an annual turnover of Rs.20 lakhs and above would be required to register under GST. All other entities in rest of India would be required to register for GST if annual turnover exceeds Rs.20 lakhs. There are also various other criteria's, that could make an entity liable for obtaining GST registration - irrespective of annual sales turnover. Entities required to register for GST as per regulations must file for GST application within 30 days from the date on which the entity became liable for registration under GST.
business is required to have as per the rules and regulations.
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Important Points in relation to GST
A GSTIN (GST Identification Number) is a unique PAN-based GST Registration Number issued by the GST authorities on successful registration in India. It is used to log in to GST portal and needed to claim input credits.
GST has a six-tier rate structure. GST Rate depends on the type of goods or services. All goods and services fall under these rates. Currently, major tax rates are 5%, 12%, 18% and 28%. In the case of Gold, it is 3% at present. Some items are taxable at 0%.
GST Registration is compulsory for persons, whose turnover exceed INR 20 Lakh. If your sales are less than INR 20 Lakh, you may voluntarily opt for GST Registration if you wish to avail benefits of ITC. In northeast states, a limit is INR 10 Lakh. Further, all persons who make interstate purchase or sales of services or goods have to apply for GST registration. Above limits do not apply to them.
SGST, CGST & IGST
SGST is State GST, CGST is Central GST and IGST is Integrated GST. In case of intrastate(within state) sales or purchase, SGST and CGST are equally levied. In the case of interstate (between states) trade, IGST is applicable.
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What is the time limit for taking registration under GST?
An entity liable to be registered under GST should apply for registration under GST within 30 days from the date on which the entity becomes liable to register for GST. Casual taxable persons and non-resident taxable persons are required to be registered under GST, prior to commencing business.
How long does it take to obtain GSTIN?
After submission of GST application with all the required documents, GSTIN is alloted within 7 working days.
Is PAN mandatory for registerting under GST?
Yes. PAN is mandatory for normal taxpayers and casual taxable persons to be registered under GST. However, PAN is not mandatory for a non-resident taxable person for obtaining registration.
Can I register for GST voluntarily?
Yes. Any entity wishing to claim input tax credit can registered voluntarily, even if not liable to be registered. After registration, voluntarily registered entities will also have to comply with regulations as applicable to a normal taxable person.