Setup StartupIt is a destination based tax on consumption of goods and services.
We help in setting up your business/startup and guide you choose the appropriate business structure.
GST is the biggest tax reform in India, which is tremendously improving ease of doing business and increasing the taxpayer base in India by bringing in millions of small businesses in India. By amalgamating multiple taxes into a single system, tax complexities would be reduced while tax base is increased substantially. Under the new GST system, all entities involved in buying or selling goods or providing services or both are required to enroll for GST. Entities without GST registration would not be allowed to collect GST from a customer or claim an input tax credit of GST paid and/or could be penalised. Further, registration under GST is mandatory once an entity crosses the minimum threshold turnover of starts a new business that is expected to cross the prescribed turnover. We help you to get GST Registration within 2-3 working days.
Turnover Limit: if you are a manufacturer or trader and sales or turnover exceeds Rs. 40 lakh in a year then it is mandatory to register under the GST. For some state like North-Eastern States, J&K, Himachal Pradesh, and Uttarakhand the limit is only Rs. 10 lakh in a year. And if you are a service provider the turnover threshold is Rs. 20 lakh in a year.If you export goods or services then GST registration is mandatory irrespective of your turnover Also if you supply goods or services in another state then GST registration is mandatory irrespective of your turnover
Voluntary GST Registration: Any person or entity irrespective of business turnover can obtain GST registration at any-time. Hence, GST registration is obtained by many businesses in spite of not reaching the aggregate turnover limit. So here are some of the main reasons for obtaining voluntary GST registration: To improve the business credibility To satisfy the requirements of B2B customers To claim input tax credit benefits
Branch Registration: GST registration should be obtained by a taxable person under GST in each of the State or Union Territory, from where taxable supply of goods or services is made. For example, if a hotel operates in the States of Maharashtra and Tamilnadu , then separate GSTIN would have to be obtained for Maharashtra and Tamilnadu.
Interstate supply of Goods or Services: If you are supplying Goods/Services outside your state then GST registration is mandatory irrespective of turnover of the business.
Event or Exhibition: In the GST Act, its called as the casual taxpayer. If you don’t have any permanent place of business then you can apply for the casual taxpayer under the GST Registration. It is valid for maximum of 90 days (3 months).
E-commerce business: if you are an E-commerce Sellers of the leading aggregator portal like Flipkart or Amazon then it is mandatory to register under the GST.
E-Commerce Aggregator Portal: if you are thinking to start your own E-commerce business then it is mandatory to register under the GST.
Outside India Online Portal: if you are a service company and providing information & database access from outside India to Indian visitors then it is mandatory to register under the GST.
Non-Resident Indian (NRI): if you are a non-resident person of India or handling the business of NRI in India then it is mandatory to register under the GST.
The agent of Suppliers or Input tax Distributor: if you are an input tax service distributor then it’s required to apply for the GST Registration to carry forward the benefit of an input tax credit under GST Law.
Reverse Charge Mechanism: Under GST Law there is term reverse charge mechanism so if you fall under that category then it is mandatory to register under the GST.
PAN Card of shareholders and Directors. Foreign nationals must provide a valid passport.
Aadhar card and Voter ID/ Passport/ Driving License of Shareholders and Directors.
Business Registration certificate
Latest Passport size photograph of Shareholders and Directors.
Latest Electricity Bill/ Telephone Bill of the registered office address
last 6 month bank Bank A/c Statement
One Cancelled Cheque
Class 2 Digital Signature of Authorised Signatory
GST Registration number is an identification number which is assigned to business entity. Its a like a PAN Number. Its a 15 digit unique tax identification number which is alloted to each applicant. The first two digits show the state code. Next 10 digits show the PAN number of the entity or person. Apart from this, next one represents the entity code & last 2 number are random. For Ex – 27 - AAACA9999A - 1 - ZT
As shown in the GSTIN format above, the first two numbers in a GST registration number are tied to the state of registration. Hence, if a business is operating in two different states, then the first two numbers of the GSTIN would change, while the PAN of the entity would remain the same. Also, in case of more than 1 GST registration within a state, then the entity code would also change.
All entities having GST registration are required to file GST returns, as per the GST return due date schedule mentioned below. GST return filing is mandatory for all entities having GST registration, irrespective of business activity or sales or profitability during the return filing period. Hence, even a dormant business that obtained GST registration must file GST return.
| FORM | PARTICULARS | FREQUENCY | DUE DATE |
|---|---|---|---|
| GSTR 1 | Return of Sales | Monthly Quarterly (If T/O <1.5Cr) |
10th of next month |
| GSTR 3B | Summary Return and Payment | Monthly | 20th of Next Month |
| GSTR 4 | Return for Composition Dealer | Quarterly (those who opted for Composition) |
31st of next month |
| GSTR 9A | Annual Summary Return | Annually | 31st Dec |
| GSTR 9C | Audit Report | Annually | 31st Dec |
Once the supplier of goods or services has obtained the registration , he can take credit of the GST paid to his supplier/vendor in respect to business activities. The decreased cost of inputs lowers the pricing of supplies. The registered GST supplier is also eligible to pass the ITC to the consumers.
The online registration process is simplified with the assistance of our experts. With the completion of registration process, the certificate is granted to the applicant stating the GST registration number, which is called GSTIN. The registration granted is permanent registration without any renewal requirement.
With compulsory or voluntary registration under GST, the supplier is eligible to collect the taxes legally. Further, the supplier can also pass on the input tax credit. The voluntary registrant also gets equal status and responsibilities of taxpayer registered under the mandatory criteria. With the said registration, the registrant can also issue tax invoice(Pakka Invoice) to the consumers. If you issue a Valid GSTIN Tax invoice then it increases the trust between your customer’s & increases your brand value. Also if you have a business without the valid legal entity proof, MNC are not dealing with the same.
After registration, every registrant needs to comply with periodical returns under GST. These compliance requirements are simplified under the GST regime. It is also proposed to simplify the compliance through single return filing from multiple filings. A regular taxpayer would be awarded a higher GST Compliance rating as compared to others, which will be open for all. Anyone who wants to transact with you, can take decision looking at your GST Compliance rating.
It is a destination based tax on consumption of goods and services.
The tax would accrue to the taxing authority which has jurisdiction over the place of consumption which is also termed as place of supply.
Taxable event under GST is supply of goods or services or both. CGST and SGST/ UTGST will be levied on intra-State supplies. IGST will be levied on inter-State supplies.
Yes, but only those activities which are specified in the CGST Act / SGST Act. The said provision has been adopted in IGST Act as well as in UTGST Act also. For Example: where the inputs/ capital goods sent for job work are not returned within the specified time limit, the supplies made by the principal to job worker will also be deemed to be a supply.
The supplier of Goods and Services is required to apply for GST registration in the state from where the taxable goods or services are supplied, mentioning the place(s) of business. When the places of Business are situated in more than one state, application of GST shall be made from more than one place.
No, a person cannot apply for a single GST Registration. A person has to apply for separate GST Registration for every state from which he/she is carrying out the operations, whether under the same name or different. The same applies to a person having the same PAN and operating business from different states.
Once the application is made for registration under Goods & Service Tax Act, the competent officer shall verify the application submitted and on his/her satisfaction, the officer issues the Certificate of Registration under GST in soft copy. The Certificate issued also mentions the GSTIN allotted to the applicant.
Following is the list of the exclusions from the GST Registration:
The event of supply of Goods and/or Services i.e. transactions such as the sale, transfer, barter, exchange, license, rental, lease or disposal made, or agreed to be made for a consideration of taxable goods or services, is to be considered a taxable event under the GST Act.
There are no government fees for GST registration.
Every person registered under GST, whether mandatorily or voluntarily, shall file the requisite GST Returns in the manner prescribed and within the time limit prescribed for same.
Payment for the tax or any penalty, fees, etc. shall be made via any of these payment modes:
This amount shall be credited to the electronic cash ledger of the registered dealer.
Composite supply is a supply consisting of two or more taxable supplies of goods or services or both or any combination thereof, which are bundled in natural course and are supplied in conjunction with each other in the ordinary course of business and where one of which is a principal supply. For example, when a consumer buys a television set and he also gets warranty and a maintenance contract with the TV, this supply is a composite supply. In this example, supply of TV is the principal supply, warranty and maintenance service are ancillary. Mixed supply is combination of more than one individual supplies of goods or services or any combination thereof made in conjunction with each other for a single price, 27 which can ordinarily be supplied separately. For example, a shopkeeper selling storage water bottles along with refrigerator. Bottles and the refrigerator can easily be priced and sold separately.
It means the liability to pay tax is on the recipient of supply of goods and services instead of the supplier of such goods or services in respect of notified categories of supply
It means the liability to pay tax is on the recipient of supply of goods and services instead of the supplier of such goods or services in respect of notified categories of supply
It is valid for Lifetime.
No. GST registration process is 100 % online. You need to send us documents over mail. Our expert will make application on behalf of your company.