Startup Counter

THINGS TO KNOW BEFORE YOU REGISTER- GST Registration

GST registration is necessary for businesses with a turnover of 20 lakh rupees or for interstate trade. GST registration is confirmed by the GSTIN after 2-6 working days, but a temporary number is generated immediately.

gst-registration
introduction

INTRODUCTION

1. GST refers to Goods & Services Tax, it is the India’s biggest Tax reform in decades.

2. The ‘One Nation: One Tax’ It is a destination based tax on consumption of goods and services. As per Section 22(1) a taxable person should obtain registration in every State from where he makes taxable supply of goods or services or both.

3. It has subsumed various taxes, including Sales Tax, Excise Duty, VAT, CST, etc

advantage

ADVANTAGES

Who need to register under GST?

  • Every supplier (including his agent) who makes a taxable supply i.e. supply of goods or services or both which are leviable to tax under GST law, and his aggregate turnover in a financial year exceeds the threshold limit of Rs. 20 Lakhs (Rs. 10 lakhs for North-Eastern States) shall be liable to register himself in the State or the Union territory from where he makes the taxable supply.
  • Who needs to compulsorily get registered?
    • persons making any inter-State taxable supply of goods;
    • casual taxable persons;
    • persons who are required to pay tax under reverse charge;
    • electronic commerce operators required to pay tax under sub-section (5) of section 9
    • persons who are required to deduct tax under section 51;
    • persons who supply goods and/or services on behalf of other registered taxable persons whether as an agent or otherwise;
    • Input service distributor (whether or not separately registered under the Act)
    • persons who are required to collect tax under section 52;
    • every electronic commerce operator
    • every person supplying online information and data base retrieval services from a place outside India to a person in India, other than a registered person; and,
  • Time limit for registration
    • A person should take a Registration, within thirty days from the date on which he becomes liable to registration.
  • Other Points
    • Every person who is liable to take a Registration will have to get registered separately for each of the States where he has a business operation and is liable to pay GST.
    • a person having multiple business verticals in a State may obtain a separate registration for each business vertical, subject to such conditions as may be prescribed.
Required_Documents

DOCUMENTS REQUIRED

FAQ

Most frequent questions and answers
faq

No. Every person will have to get registered separately for each of the State from where he makes taxable supply if he is liable for registration in terms of section 22(1) of the CGST Act.one Director on the Board of Directors must be an Indian Resident.

GST Registration is not mandatory for following persons:
a) Person who Supply agricultural produce from cultivation.
b) Who make only exempt supplies (Nil Rated or Non-Taxable supplies) of goods or services.
c) Who Make supplies which are entirely covered under reverse charge.

Yes. As per proviso to Section 25(2) of the CGST Act, a person having multiple business verticals in a State or Union territory, may obtain a separate registration for each business vertical, subject to such conditions as may be prescribed.

Yes. In terms of section 25(3) of the CGST Act, a person, though not liable to be registered under Section 22 or Section 24, may get himself registered voluntarily, and all provisions of this Act, as are applicable to a registered taxable person, shall apply to
such person.

Yes. Every person should have a Permanent Account Number issued under the Income Tax Act, 1961 in order to be eligible for grant of registration under Section 25 of the CGST Act.
(Exception- TDS Deductor may use TAN, Non-resident is not required to have PAN)

Yes, the registration once granted to any person is permanent except for non-resident taxable person and casual taxable person unless surrendered, cancelled, suspended.

. No. A person without GST registration can neither collect GST from his customers nor claim any input tax credit of GST paid by him.

 

Yes. Any registration granted under the CGST Act may be cancelled by the proper officer, in circumstances mentioned in Section 29 of the CGST Act

Yes. The cancellation of registration under one Act (say the CGST Act) shall be deemed to be a cancellation of registration under the other Act (i.e. the SGST Act). (Section 29 (4)).

• all taxable supplies,
• all exempt supplies,
• exports of goods and/or service, and,
• all inter-state supplies of a person having the same PAN.

 

No. There is no option to take Centralize registration for services or goods or both.

No. There is no option to take Centralize registration for services or goods or both.

Yes, he can apply for cancellation of registration after the completion of one year from the effective date of registration.

Any person with Turnover upto Rs. 1 Crores (Rs. 75 Lakhs in special category states), who is engaged in manufacturing of goods(except Ice cream, PAN Masala, Tobacco) / trading of goods / restaurant services

Request Quotation/Call Back
From Startup Specialist