GST Registration

Documents Required

For all the directors in case of Company / Partners in case of LLP & Partnership Registration/ Proprietor in case of Sole Proprietor
PAN card of the applicant
For all the directors in case of Company / Partners in case of LLP & Partnership Registration/ Proprietor in case of Sole Proprietor
Address proof
Certificate of Incorporation for Company,Partnership Deed for Partnership,Other registration certificates obtained by Sole proprietor from the Central/State/Local Authority
Business Registration Proof
Rent Agreement in case of rented property & Sale deed in case of owned property alongwith Light Bill/Tax Bill/Other Utility bill available for the property.

Address proof
Bank account details of the business.
Account details
Recent Passport Size photograph.

photograph
Class 2 or Class 3 DSC for signatories or OTP Verification via Aadhar.

OTP Verification
Details with identity proofs and Address proffs of Authorized signatory


identity proofs
Cancelled cheque/Passbook front page of CA/SA Account in the name of Directors/Partners/Sole Proprietor as applicable

Bank Account Details

Contact Form

 

Options to opt under GST Registration

 1.Composition Scheme:
A taxpayer whose turnover is below Rs 1.0 crore* can opt for Composition Scheme. In case of North-Eastern states and Himachal Pradesh, the limit is now Rs 75* lakh.
Turnover of all businesses registered with the same PAN should be taken into consideration to calculate turnover.
Conditions:
No Input Tax Credit can be claimed by a dealer opting for composition scheme The taxpayer cannot make any inter-state supply of goods.The dealer cannot supply GST exempted goods.Taxpayer has to pay tax at normal rates for transactions under Reverse Charge Mechanism.If a taxable person has different segments of businesses (such as textile, electronic accessories, groceries, etc.) under the same PAN, they must register all such businesses under the scheme collectively or opt out of the scheme.The taxpayer has to mention the words ‘composition taxable person’ on every notice or signboard displayed prominently at their place of business.The taxpayer has to mention the words ‘composition taxable person’ on every bill of supply issued by him.Those supplying goods can provide services of upto Rs. 5 lakh.
2.Regular Scheme:

Incase of regular gst scheme, the dealer gets input credit of all input required for furtherance of the business. Even if charges are paid under RCM (Reverse Charge Mechanism) is treated as input credit for next month.

Incase of composition the input credit is not available on any of items including amount paid under RCM. Over this the dealer needs to pay 1% of total turnover as composition fee.

The chances of general gst dealers purchasing items from composition dealer shall be very less as general dealer shall not be able to get input credit on purchases from composition dealer.

 

Advantages

one

GST eliminates the cascading effect of tax

two

Higher threshold for registration

three

Composition scheme for small businesses

four

Simple and easy online procedure

five

The number of compliances is lesser

six

Defined treatment for E-commerce operators

seven

Improved efficiency of logistics

eight

Unorganized sector is regulated under GST

DISAdvantages

one

Increased costs due to software purchase

two

Being GST-compliant

three

GST will mean an increase in operational costs

four

GST came into effect in the middle of the financial year

five

GST is an online taxation system SMEs will have a higher tax burden

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