GST Registration

GST i.e Goods and Service tax is an indirect tax and its applicable to whole India. And supplier of goods and services are liable to register under GST.  Know more about GST

Some Questions Related to gst registration comes in every businessmen’s mind, here we will try to answer:-

Why my business need registration?

When my Business need registration?

Type of registration

Single vs Multiple registration

Fees for registration

Online or Offline?

Documents require

Consequences for not registering

Here the answer of All common queries: gst registration

Why my business need registration?

Any person who makes a taxable supply with an aggregate turnover of over Rs.20 lacs in a financial year, is required to obtain GST registration. In special category states i.e Northern Eastern States and , the aggregate turnover criteria is set at Rs.10 lacs.

Aggregate turnover requirement for GST registration is as below:

Supply Means : Definition of ‘supply’ Under section 2(92) read with section 3 ‘supply’ includes all forms of supply of goods and/or services such as sale, transfer, barter, exchange, licence, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business. Schedule I specified the supply.

THE TURNOVER LIMIT MENTIONED ABOVE NOT APPLICABLE TO FOLLOWING TRANSACTIONS?

• Every person who is registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)  needs to register under GST.
• When a business which is registered has been transferred to someone, the transferee shall take registration with effect from the date of transfer.
• Anyone who drives inter-state supply of goods
• Casual taxable person
• Non-Resident taxable person
• Agents of a supplier
• Those paying tax under the reverse charge mechanism
• Input service distributor
• E-commerce operator or aggregator
• Person who supplies via e-commerce aggregator
• Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person

When my Business need registration?

I.e Time frame or time limit to obtain GST registration-

Person liable to take registration under this act shall be liable to take registration within thirty days from the date on which he becomes liable to registration.

Type of registration i.e types of gst registration  a business may require 

• NORMAL REGISTRATION OR SAY REGULAR GST REGISTRATION

  • Every registration which are not availing benefit of  any composition scheme and are not a casual/temporary registration
  • It is a Normal or say regular registration.

• COMPOSITION 

Small businesses having annual turnover less than Rs. 75 lakhs can opt for Composition scheme.

Composition dealers will pay nominal tax rates based on the type of business:

• Composition dealers are required to file only one quarterly return
• They cannot issue taxable invoices
• Cannot collect tax from customers
• Businesses that have opted for Composition Scheme cannot claim any input tax credit.

Composition scheme is not applicable to :

1. Service providers
2. Inter-state sellers
3. E-commerce sellers
4. Supplyier of non-taxable goods
5. Manufacturer of Notified Goods

• CASUAL GST REGISTRATION

As per the law, a ‘Casual Taxable Person’ is a person who occasionally undertakes transactions involving supply of goods or services, or both, in the course or furtherance of business, whether as principal, agent or in any other capacity, in a State or a Union territory where he has no fixed place of business.

TURNOVER EXEMPTION LIMIT NOT AVAILABLE TO CASUAL TAXABLE PERSON

Single vs Multiple registration

Should I require multiple gst registration for each place of business?- YES

Can I Apply of Centralized gst registration- NO, centralized registration is not possible

IMPORTANT POINTS

SINGLE -If the business have the same nature i.e same line of  business IN A SAME STATE they need single registration

MULTIPLE–  If business is in more than one state also if business have separate vertical they cannot opt single registration.

Fees for registration

There is no fees of registration under GST

Online or Offline?

There is only online process for registration.  CLICK HERE FOR GST ONLINE REGISTRATION

You can register as :-

TAXPAYER

GST PRACTITIONER

Documents require 

1. PAN CARD
2. MOBILE NUMBER
3. EMAIL ID
4. PRESCRIBED DOCUMENTS FOR REGISTRATION CLICK HERE TO KNOW
5. PROOF OF BUSINESS
6. PLACE OF BUSINESS
7. VALID BANK ACCOUNT NUMBER
8. IFSC CODE OF BANK
9. AUTHORIZED PERSON SIGNATORY DETAILS

Consequences for not registering 

An offender not paying tax or making short payments (genuine errors) has to pay a penalty of 10% of the tax amount due subject to a minimum of Rs.10,000.

The penalty will at 100% of the tax amount due when the offender has deliberately evaded paying taxes

READ MORE GST AND ENROLLMENT QUESTIONS

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