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Earendil Business Services | GST Registration

What Is Goods & Services Tax (GST)

Goods and services tax is an indirect and multi-stage taxing system. In India, the GST is levied based on the slab system. The maximum payable GST in India is 28%.

Why register with Earendil

  • Our Chartered Accountant will be guiding you through the process. He/she will be your single point of contact for registration assistance and for all other services that we offer.
  • Our motto is “You only do what you do best; to us, leave the rest”. We assure that once we start our relationship, you wouldn’t have to think about the areas which we handle.
  • We will analyse your business and provide a report of the requirement for GST registration at multiple locations, GST inputs which can be taken and an analysis of the optimum tax structure free of cos.
  • We will also help in introducing a SOP for GST remittances and filing as a value-add service free of cost.

Features of Goods & Services Tax (GST)

  • GST registration is a must for every business that buys or sells goods or provides services or both.
  • Goods and Services Tax Identification Number (GSTIN-15) is given for every business entity after GST registration.
  • The unique 15 digit number is used to track financial transactions and tax filing details of the business entity.
  • GST registration is mandatory if a company’s turnover crosses/ is expected to cross certain limits in the future.

Aggregate Turnover

  • Aggregate Turnover in GST is the total value of annual sales which includes.
  • Sales of taxable/exempt products and services.
  • Sales made from exporting goods or service.
  • Sales made to support sales.
  • Sales across state lines.
  • Interstate sales with PAN.
  • However, this doesn’t apply for the value of inward supplies on which tax is payable by a person on a reverse charge basis.
  • GST registration is required in a service-oriented business when the value of annual Aggregate turnover crosses Rs. 20 Lakhs limit.
  • In special category States, the turnover threshold is 10 Lakhs.
  • Similarly for a business which sells goods has to register for GST if the annual turnover limit crosses Rs. 40 Lakhs.

Documents Required for Registering GST

LLP

  • PAN Card is a must for GST registration
  • Business Incorporation Certificate (except for proprietorship firm)
  • Partnership Deed (LLP, Partnership Firm)
  • Business Location Proof – ownership document/rent or lease document/SEZ certificate/Shared property document along with recent electricity or water bills
  • Bank Account Proof – a copy of bank passbook/copy of a canceled cheque

Along with those the following should be submitted for Address & Identity proofs

  • Photos of the applicant
  • Aadhar Card
  • Driving License
  • Passport
  • Voter ID

GST Registration Criteria for Business Entities

Interstate Business

  • It is mandatory for a business that supplies goods from one State to another State in India regardless of its Aggregate Turnover.
  • Hence, the tax exemptions of Rs. 20 Lakhs threshold don’t apply for the business which carries out inter-state sales of goods.

E-commerce Platform

  • Despite the Aggregate Turnover a business that sells service/goods or both online must register for GST.
  • GST is a mandate to establish an E-commerce business.



Casual Taxable Persons

  • On the lines of a business entity, an individual who sells goods/services or both must obtain GST registration.
  • This includes setting up seasonal shops or temporary stalls.
  • Like interstate and e-commerce, GST registration is a must regardless of the turnover.

Voluntary Registration

  • Any individual or business entity which doesn’t require GST registration may register for the same to add legal credibility to the business
  • Voluntary registration of such businesses aids in carrying out interstate and e-commerce businesses without much GST restrictions.

Types of GST Registration

GST is categorized based on the following
Normal Scheme
  • The business should operate in India
  • This registration doesn’t need a deposit
  • It comes with lifelong validity
Non-resident Taxable Person
  • The business should operate in India
  • He/She supplies goods/services to India
  • The registration is valid for 3 years
Casual Taxable Person
  • An individual wants to open a seasonal stall or temporary shop
  • He/She must pay liable GST as deposit. The registration is valid up to 3 months