GST Registration

Gst(Goods And Services Taxes)

Inputs are all the goods (Raw materials) that helps the Businesses to produce the output the finished products that are provided to the ultimate Consumer. Now, if talk about the Input Tax credit mechanism is the GST it helps to reduce the tax paid on the input and pay the remaining amount at the time of paying the tax. Firstly, we pay the tax on the purchase of the goods/services from the registered seller having the GSTIN and we sell the goods/services and collect the tax.

And with the mechanism of input tax credit we can set off the tax paid on the purchase of the goods/services with the output liability i.e. tax on sales and we only have to pay the output minus input liability as the balance liability of the tax. Input Tax Credit can be used as under: CGST input tax credits are allowed to be used to pay CGST and IGST. SGST input tax credits are allowed to be used to pay SGST and IGST. IGST input tax credits are allowed to be used to pay CGST, SGST, and IGST.

GSTIN

GSTIN is the unique identification number which is issued to the GST taxpayer. By the GSTIN number each taxpayer can easily be identified. GSTIN can be obtained after applying for New GST Registration/ Online GST Registration. It is mentioned under GST Certificate

GST Registration Online

For GST Registration online, every business or company must have an annual turnover of more than Rs.40 lakh. In the GST registration online you just have to give details to our expert team. They will ask for documents wherein differs on the basis of LLP, OPC & partnership, etc. The online submission of all the documents and after that in 5-6 days you will get a GST number. One can get an input tax credit and collect GST from recipients of goods & services.

Who can apply for New GST Registration?

Companies or businesses engaged in the buying and selling and good of services have to apply for a GST Certificate. It is necessary for businesses whose turnover is higher than Rs.20 lakhs for the supply of services and Rs. 40 lakhs for the supply of goods annually to register for a GST. There are various applicants who are eligible to Registration under GST:

• Individuals who are enrolled under Pre-GST law i.e. Excise, VAT, Service
• For goods providers, if your sales turnover is more than rs.40 lakhs annually. For states special category the limit is Rs.20 lakhs every year they have to take Online GST Registration.
• If you are a service provider sales turnover is more than Rs. 20 lakh for the state's Special Category, the limit is Rs. 10 lakh in a year.
• Taxable person & Non-Resident Taxable person (NRI) have to get GST Registration Online.
• Agents of Suppliers or Input Service Distributor (ISD) plus they get benefits of Input Tax Credit.
• People paying taxes under the Reverse Charge Mechanism.
• People who supply by e-commerce aggregator
• The person supplying online data and database access from a place outside India to a person in India.
• All the E-Commerce Portals & Sellers are basically online stores. For example Amazon, Snap deal, etc.
• Inter-State supplier of goods i.e. if you are a supplier of goods and service in more than one
• Arunachal Pradesh, (b) Assam, (c) Sikkim, (d) Meghalaya, (e) Tripura, (f) Mizoram, (g) Manipur, (h) Nagaland, and (i) Himachal Pradesh. These states can opt for tax payable at a concessional rate.

Note: The States Special Category under the GST Act are

What is GST Registration Number ?

GST Registration number is an identification number which is assign to each Firm or Company or Individual .Its a like a PAN Number for the same. Its a 15 digit unique tax identification number. The first two digit show the state code & another next 10 digit show the pan number of the entity or person. Apart from this next 1 number show the state Code & another 2 number are random. For Ex – 08AAKCM0506E1ZT

• The first 2 digits of the GSTIN describe the state code which is given as per the 2011 census.
• FAnother following 10 digits are the PAN number of the business or company.
• The 14th digit is Z by default.
• The 15th or the last digit is the Checksum digit. It occurs, automatically, as a result of the calculation of the other 14 digits.
• Penalty if The GST Registration
• In case of short payment of tax, a minimum fine of Rs 10,000 has to be paid. The highest amount can be the amount equivalent to 10% of the unpaid tax.

Documents Required

• In the case of Sole Proprietorship Firm
  1. Pan Card and Address Proof of the proprietor
  2. Any other firm registration certificate like MSME Registration etc.
• In case of Partnership Firm
  1. Pan card of the Partnership Firm with the deed.
  2. Partnership registration certificate & partners id & address proof.
• In the case of Private Limited Company or One Person Company
  1. Pan Card of the Company , COI , MOA & AOA of Company.
  2. Board Resolution with Directors Id & Address Proof.
• In the case of LLP (Limited Liability Partnership)
  1. COI & Pan Card of Company.
  2. Deed + Partners Id & Address Proof

GST Registration Process

1. Fill the application form online

After the verification of documents, fill the application forms for Registration Under GST. Our professional team will provide you a form wherein you have to fill all the details. Like the Legal Name of the Tax Collector, PAN Number, etc.

2. Submission of the Documents online

After completing GST Registration online form you have to submit necessary documents like a copy of the address, ID proof, etc. and upload on the site to Get New GST Registration.

3. ARN(Application form number)Number generation

When documents are registered you will receive 15 digits ARN code. This will be proof that your registration under GST is confirmed during the GST Registration process.

4. GST Registration Certificate & GSTIN Number

Upon the confirmation of the GST Registration application, the GST Certificate and GSTIN number will be circulated within 10 days. Here the GST Registration process completed.

Track your GST Registration application

You can track your GST registration application by following steps:

• Log on to https://services.gst.gov.in
• Click on the ‘service’ option available
• When you click on the service option, then you will provide a result of 'registration.'
• Now you have to choose the ‘track application status’ option
• After that, you have to enter the ARN and click on Search
• Now, the result is here you can see your application status and you will get the same on your registered email id.

Modes of GST Registration in India

1. Central goods and service tax(CGST)

CGST is the tax levied on the Intra State supplies of goods and services. This is governed by the Central Government. Intra-state supply of goods or services takes place when the place of the supplier and place of the buyer is in the same state.

2. State goods and service tax(SGST)

SGST is the tax levied on the Intra State supplies of goods and services by the State Government. Hereabouts the tax imposed goes to the state government.

3. Integated goods and services tax(IGST)

IGST is the tax levied on the inter-state supplies of goods and services. This is administered by the IGST Act. Inter-state supply of goods takes place when the place of the supplier and the place of supply is in various states. In IGST, the seller has to get IGST from the buyer. The tax raised will be shared between the Central and State governments.

New GST Registration Notification

In new GST registration, there is a limit for the sale of goods for two categories applicable from last year April 1st 2019.

• Normal State Category- Turnover can be more than Rs.40 lakh
• Special State Categories- Turnover can be more than Rs.20 lakh
• Normal State Category- Turnover can be more than Rs.20 lakh
• Special State Categories- Turnover can be more than Rs.10 lakh

Penalty if The GST Registration

In case of short payment of tax, a minimum fine of Rs 10,000 has to be paid. The highest amount can be the amount equivalent to 10% of the unpaid tax. The penalty is levied in case any business entity is not paying GST registration charges:

If done intentionally

In case the offender is deliberately avoiding paying the tax, the fine will be 100% of the tax amount.

If you have Done incorrect invoicing then penalty rs 25000

Not filling the GST Tax returns for NIL return 20/- Rs. per day and Business 50Rs. per day. Choosing composition scheme if you are not eligible for the same then 100% tax due or RS.10, 000 whichever is more.