GST REGISTRATION
WHAT IS GST REGISTRATION?
Under GST, businesses whose turnover exceeds Rs. 20 lakhs (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. This process of registration is called GST registration.
For certain businesses, registration under GST is mandatory. If the organization carries on business without registering under GST, it will be an offence under GST and heavy penalties will apply.
GST registration usually takes between 2-6 working days.
GST Registration is a tedious 11 step process which involves submission of many business details and scanned documents.
WHO SHOULD REGISTER FOR GST?
- Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)
- Casual taxable person / Non-Resident taxable person
- Agents of a supplier & Input service distributor
- Those paying tax under the reverse charge mechanism
- Person who supplies via e-commerce aggregator
- Every e-commerce aggregator
- Businesses with turnover above the threshold limit of Rs. 20 Lakhs (Rs. 10 Lakhs for North-Eastern States, J&K, Himachal Pradesh and Uttarakhand)
- Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person
DOCUMENTS REQUIRED
- PAN of the Applicant
- Aadhar Card
- Proof of Business Registration or Incorporation Certificate
- Identity and Address proof of Promoters/Director with Photographs
- Address proof of the place of business
- Bank Account statement/Cancelled cheque
- Digital Signature
- Letter of Authorization/Board Resolution for Authorized Signatory
PENALTY FOR NOT REGISTERING
An offender not paying tax or making short payments (genuine errors) has to pay a penalty of 10% of the tax amount due subject to a minimum of Rs.10,000.
The penalty will at 100% of the tax amount due when the offender has deliberately evaded paying taxes.