GST Registration

In any tax system, registration is the most fundamental requirement for identification of tax payers ensuring tax compliance in the economy. Registration of any business entity under the GST Law implies obtaining a unique number from the concerned tax authorities for the purpose of collecting tax on behalf of the government and to avail Input tax credit for the taxes on his inward supplies. Without registration, a person can neither collect tax from his customers nor claim any input tax credit of tax paid by him.

The process by which a taxpayer gets registered under Goods and Service Tax (GST) is GST registration. Once the registration process has been completed, the Goods and Service Tax Identification Number (GSTIN) is provided. The 15-digit GSTIN is provided by the Central Government and helps to determine whether a business is liable to pay GST.

Advantages

  • There is a Limited risk to personal assets in Public Limited Company.
  • Public Limited Company is a Separate Legal Entity.
  • In the Public Limited Company there would Limited Liability for members.
  • A company being an independent legal entity can sue and be sued in its own name.

Types of GST

FeaturesCentral GST – CGSTState GST – SGSTIntegrated GST – IGST
Tax Levied ByCentral Government on Intra-State supplies of Goods and/or ServicesState Government, on Intra-State suppliesCentral Government, on Inter-State supplies
ApplicabilitySupplies inside a stateSupplies inside a stateInterstate supplies and import
Input Tax CreditAgainst CGST and IGSTAgainst SGST and IGSTAgainst CGST, SGST, and IGST
Tax Revenue SharingCentral GovernmentState GovernmentShared between State and Central governments
Free SuppliesApplicableApplicableApplicable

Documents required for getting GST registration

Sole Proprietorship/Individual business

1.Proof of identity. Such documents include Aadhaar, PAN, Passport, Driving license or any other Government-issued identity document would be required.
2.Bank account details, like Account Number, IFSC, Bank Name & Branch Address
3.Address proof
•In the case of leased property, the copy of lease deed for the registered office premises along with a NOC from Landlord and electricity bill/property tax receipt/water bill copy of the registered office property.

• In case of own property, copy of sale deed or electricity bill/property tax receipt/water bill copy of the registered office property.

Partnership or LLP business

1.Proof of identity of all partners. Such documents include Aadhaar, PAN, Passport, Driving license or any other Government-issued identity document would be required.
2.Bank account details of the LLP
3.Address proof
•In the case of leased property, the copy of lease deed for the registered office premises along with a NOC from Landlord and electricity bill/property tax receipt/water bill copy of the registered office property.

• In case of own property, copy of sale deed along with the electricity bill/property tax receipt/water bill copy of the registered office property.
4.In case of LLP-
• Registration Certificate of the LLP.
• Copy of board resolution
• Appointment Proof of authorised signatory. 

Private Limited/ Public Limited/ One Person Company

1.PAN card of the company.
2.Certificate of Incorporation
3.MoA and AoA of the company
4.Proof of identity of all the directors. Such documents include Aadhaar, PAN, Passport, Driving license or any other Government-issued identity document would be required.
5.Details of bank.
6.Address proof
•In the case of leased property, the copy of lease deed for the registered office premises along with a NOC from Landlord and electricity bill/property tax receipt/water bill copy of the registered office property.

• In case of own property, copy of sale deed along with the electricity bill/property tax receipt/water bill copy of the registered office property.
7.Appointment Proof of authorised signatory.

Hindu Undivided Family (HUF)

1.PAN card of HUF.
2.Proof of identity of karta Such documents include Aadhaar, PAN, Passport, Driving license or any other Government-issued identity document would be required.
3.Address proof
•In the case of leased property, the copy of lease deed for the registered office premises along with a NOC from Landlord and electricity bill/property tax receipt/water bill copy of the registered office property.

• In case of own property, copy of sale deed along with the electricity bill/property tax receipt/water bill copy of the registered office property.
4.Details of bank.

Society or Trust or Club

1.PAN card and photo of partners/members.
2.PAN card of society/ trust/ club.
3.Certificate of Registration.
4.Details of bank.
5.Address proof
•In the case of leased property, the copy of lease deed for the registered office premises along with a NOC from Landlord and electricity bill/property tax receipt/water bill copy of the registered office property.

• In case of own property, copy of sale deed along with the electricity bill/property tax receipt/water bill copy of the registered office property.
6.Appointment Proof of authorised signatory.

Documents/Details Required for GST Registration of a Public Company After Incorporation

Exemptions for a Public Limited Company

Very few exemptions are given to a Public Limited Company, which are:-

  1. Appointment of Woman Director is mandatory only to:-
  1. Appointment of Woman Independent Directors is not applicable to Public Company, but top 1000 listed entities shall have at least 1 Independent Woman Director.
  1. Composition of Audit Committee is mandatory only to:-
  1. Composition of Nomination and Remuneration Committee is mandatory only to:-
  1. Composition of Risk Management Committee is not applicable to Public Company, but it is applicable on top 1000 listed entities, determined on the basis of market capitalisation, as at the end of the immediate previous financial year.

FAQs

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.
3. Is bank account mandatory for GST registration?
No, bank account is not mandatory at the time of GST registration.
4. What are the documents required for 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.
5. How can I get the GST registration number?
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.
6. Is GST registration mandatory?
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.
7. Who needs to register for GST?
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.
8. Do Private limited companies benefit small businesses or start-ups?
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.
9. Who doesn’t need to apply for GST Registration?
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.
10. Is there a time limit to apply GST online?
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.

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