GST, or Goods and Services Tax, has been one of the biggest tax reforms this country has seen. It is a single tax with which those taxes that existed previously have been replaced. Such as Central Excise, VAT, Entry Tax, Octroi, Service Tax, etc. GST was rolled out nationwide on July 1, 2017. It is a destination-based tax. And follows a dual model in which both the State and the Central government levy tax on goods and services. All businesses are required to obtain a GST number for every state that specific business has been registered in. The first step under the GST regime is to know whether the business is liable to register and register accordingly.

Yes, GST registration can be done online at Nil charges.

No, bank account is not mandatory at the time of GST registration.

Each category of business require documents according to its category. However, the basic documents required in each case are: ID-proof, Address proof, business registration proof, bank details, passport sized photographs, etc.

In order to get the GST number, you need to apply for GST registration by visiting the GST portal i.e., www.gst.gov.in. To start the process, you will need to have a valid email address, mobile number and a PAN for the business.

Yes, you are required to obtain GST registration once your turnover exceeds the specified threshold limits. Click here to check out the latest threshold limits for GST registration.

A supplier of goods, with an annual turnover of Rs. 40 lakh (Rs. 20 lakhs for special category States), must apply for GST registration. There are certain cases where the taxable person is liable to pay GST even though his turnover has not crossed this limit. Those providing services must get GST registration, once their turnover crosses Rs.20 lakhs and in case of Special Category States at Rs 10 lakhs.

Yes, small business and start-ups get benefits of getting themselves registered as a private company. They get the advantage of credibility and good reputation in the eyes of big financial institutions, clients and suppliers. Also, they get easy loans from banks.

A supplier whose aggregate turnover is less than the prescribed limit and is not even covered under the mandatory GST requirement list. When supplies are covered under the Reverse Charge Mechanism (RCM). Those who are supplying non-taxable goods and services under GST. Agriculturists, Services by any Court or Tribunal established under the law, Services of crematorium, funeral, burial, mortuary, including transportation of the deceased, Sale of land/building subject to Schedule 5 (ii)(b). Actionable claims, other than betting, lottery, and gambling.

A person must apply for GST registration within 30 days from the date on which he becomes liable to registration. The process, rules, and conditions of the GST application must follow the Registration Rules laid by GST Council. A Casual taxable person and a Non-Resident taxable person must get their GST registration, at least 5 days before the commencement of business.