Complete knowledge about GST Registration

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www.carajput.com;GST Registration

 

GST Registration for Service Providers

Registration of GST has been made easier for service providers by implementing modified rules in the 23rd GST Council Meeting.

Registration Of GST Made Easier For Service Providers

Turn Over limit remains the same for service providers as well

Service providers to register for GST must have a turnover of Rs.20 lakhs or more per annum in all states and Rs.10 lakhs in some special category states.

GST Registration for Inter-State Sales Service Provider

GST registration becomes mandatory for all businesses irrespective of annual turnover if the business involves the supply of goods from one state to another. Service providers, however, don’t require GST registration while doing inter or intra-state business with a turn over within Rs.20 lakhs or 10 lakhs in case of special category states. Businesses by service providers through the means of e-commerce platforms is also exempted from the GST registration requirement.

Mandatory GST Registration for specific service providers

Though service providers get a lot of exemption from GST registration yet certain specific types have been kept under the mandatory requirement of GST registration irrespective of the annual turnover. Under this category are the OIDAR Service Providers, E-Commerce Operators, Non-Resident Taxable person supplying services to Indian residents, and Casual Taxable Person.

When to do the GST Registration

A service provider with a service tax registration will have to change the same over to GST registration. In the case of a new business, the GST registration must be obtained within 30 days of starting the business. GST registration must be done within 5 days of commencing the business in case of a casual taxable person or non-resident taxable person.

Providing GST invoice for Services

In the event of GST registration being not done a supply bill can be issued in which GST will not be mentioned. Without GST registration you are not entitled to collect the tax from customers as well. A tax invoice must be provided for services within 30 days of providing the services when a GST registration has been done already. The invoice must contain certain details that will mention the services provided, invoice date, the GSTIN of the customer, the invoice date and number, SAC code, applicable GST rate, and also the applicable GST.

GST Registration for Other than Service Providers

WHEN COMPULSORY GST REGISTRATION REQUIRED IN INDIA?

  • Basic Turnover Condition: All taxpayers (Enterprises) with an annual turnover of more than forty lakhs are expected to get a new GST Registration.
  • NRI taxpayers: NRI taxpayer (Enterprises) who does not have a place of business in India wants to start a new business, then has to apply for GST Registration in India before beginning a business in India. The new GST registration is valid for ninety days.
  • Input service distributor & Agents of a supplier: All Input Service Distributor who wants to carry-forward the value of the Input Tax Credit needs GST registration.
  • E-Commerce website: Every E-Commerce gateway (like OLX, Flipkart or Amazon) through which multiple vendors sell their product requires Gst Registration.
  • Causal Taxpayer: If you supply products or services at events/exhibitions where you do not have a permanent place of business, you need to get GST Registration digitally before starting a new business. Such a dealer must pay GST on the basis of an average ninety-day sales. The period of validity of the causal GST Registration is Ninety days.
  • Reverse Charge: Enterprises that are expected to pay tax under the reverse charge mechanism need to GST Registration.

What’s the GSTIN?

GSTIN is an abbreviation of the Goods and Service Tax Identification Number. It is made up of 15 alphanumeric digits. This is created by the government after you have completed successfully the registration of the GST.

  • Display state code for the first 2 digits
  • The next 10 digits show the PAN number
  • Next 1 displays the serial number of Gst registrations in the state.
  • The last two digits are natural random number

REQUIRED DOCUMENTS FOR GST REGISTRATION IN INDIA

List of documents checklist for GST REGISTRATION

Kind of Taxpayers What kind of Documents needed  for GST registration
Company (Public & Private) (foreign and Indian)
  • Copy of latest Bank account details*
  • Copy of principal place of business Address proof of *
  • Copy of PAN card of Company
  • Copy of COI given by MCA
  • One Soft copy of Pic of the authorised signatories and all directors (maximum size – 100 KB in JPG format,)
  • Any other proof of appointment of authorised signatory or Board resolution appointing authorised signatory (maximum size – 100 KB in JPG format / PDF format,)
  • Copy of MOA and AOA of Company.
  • Copy of PAN card and Aadhar card of authorized signatory. The authorised signatory must be an Indian even in case of foreign companies/branch registration
  • Copy of all directors of the Company PAN card and address proof*
Individual/Sole proprietor
  • Owner PAN card of the
  • Owner Aadhar card
  • One Soft copy of Pic of the owner maximum size – 100 KB in JPG format,)
  • Latest Copy of Bank account details*
  • Address proof*
LLP / Partnership firm
  • all partners PAN card (including authorized signatory and managing partner)
  • Partnership deedcopy
  • One Soft copy of Pic of the authorised signatories and partners (maximum size – 100 KB in JPG format,)
  • Copy of Address proof of partners (Aadhar card, driving license, Voters identity card, Passport, etc.)
  • Copy of authorised signatory Aadhar card
  • Copy of authorized signatory Proof of appointment
  • In the case of LLP, Board resolution of LLP/registration certificate*
  • Copy of principal place of business Address proof *
Hindu joint family
  • Latest Bank account details *
  • Copy of Address proof of principal place of business
  • Copy of Hindu joint family PAN card
  • Copy of PAN card and Karta Aadhar card
  • One Soft copy of Pic of the owner maximum size – 100 KB in JPG format,)

Notes :

*Bank account details:

  • Address Proof for Place of Business Documents such as a leasing agreement or a sale document along with a copy of the electricity bill or the latest receipt of a property tax or a copy of a municipal Partner/ Director/Khata document must be sent at the address specified in the GST application. statement (containing the first and last page (in JPEG format / PDF format, maximum size – 100 KB)

Why do I need a GST REGISTRATION?

GST registration not only allows you to identify your company as a legal registrant, but it also opens up a range of opportunities for your business. Benefits to GST Registered Business at a glance are as follows:-

Apply Government Tenders: Different Govt tenders require the GST registration certificate holder to participate in tenders. If you don’t have a business opportunity, you might miss it.

Open Current Bank Account: In particular, in the case of a sole owner, Financial Institution and Banks do not open a current bank account in the name of a business name unless you have some government proof in the name of your business. The GST Registration Certificate will help you open your current bank account.

Dealing with Multinational Corporations: Typically, Multinational corporations are not comfortable interacting with local small business organisations until they have valid proof of commercial tax registration.

Get more competitive: you will become more competitive than your non-registered competitors because you will have valid tax registration.

Develop Your Business Online: You cannot sell goods or services on an e-commerce site without registration for GST. If you’re planning to blow up e-commerce sites like Paytm, Amazon Flipkart, or your own website, you need to have a GST registration certificate.

Will take input tax credit: Only GST Registered certificate holders can make use of the GST tax paid on their sales & save costs.

Can even be sold in India without any prohibitions: without the GST registration certificate, you cannot trade between states. That’s only feasible if you have registered your enterprise with GST.

GST Registration Process for Service Providers who are required to obtain the same

The procedure is quite simple and hassle-free. The steps are given as under :

  1. Log into your service tax account and a provisional ID and password will be given to you to register for GST.
  2. You will be given two choices on the GST portal and you have to select the “New User Login”
  3. You have to log in with the ID and password given
  4. You will be directed to a page where you have to fill in your email id and mobile number.
  5. OTPs will be sent to your number and email. Using these you can create your username and password accordingly.
  6. You will also be required to set the security questions.
  7. Your GST registration enrolment will be complete. and you will get acknowledgment No of GST registration,

You Also Read the related Link:

Registration of GST under Goods and Service Act, 2017

SOP for verification of Taxpayer who granted deemed registration

The requirement of liability under GST Registration

How to register for GST

Registration for GST made easier for service provider

Cancellation of Revocation of GST Registration

Guidance on the GST Registration Facility available for IRP under the IBC

Got any queries? Write to us in the comments.

Disclaimer: The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; before making any decisions do consult your Professional / tax advisor. For misrepresentation or interpretation of act or rules Author does not take any responsibility. Neither the author nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on. carajput.com is committed to helping entrepreneurs and small business owners to start, manage and grow their business with peace of mind. Our goal is to support the entrepreneur on legal and regulatory requirements and to be a partner throughout the entire business life cycle, offering support to the company at every stage to ensure that it is compliant and consistently growing. Hope the information will assist you in your Professional endeavors. For query or help, contact: info@carajput.com or call at 09811322785/4 9555 5555 480)