What is GST Registration?
Starting July 1, 2017, Goods & Services Tax (GST) will apply to all service providers, traders and manufacturers, once their supply turnover crosses Rs. 20 lakh in the financial year. The GST is an all-in-one tax that has replaced a variety of taxes both central and state i.e. VAT, Excise Duty, Service Tax etc.) The procedure for GST is completely online and requires no manual intervention unlike before.
Documents Required for GST Registration
- PAN of the owner being identity proof
- Aadhaar Card of the owner being address proof
- Certificate of Incorporation wherever applicable
- Moa and Aoa/ Partnership deed/ LLP Deed wherever applicable
- PAN of the company/Partnership firm/ LLP wherever applicable
- Details of place of Business i.e. Utility bill
Is the GST registration an online process?
Yes, the GST registration process is an online process.
Is there an exemption from GST registration?
The exemption limit is a supply turnover of Rs. 20 lakh for businesses in all but the Indian states in the northeast region. Businesses in Arunachal Pradesh, Assam, Meghalaya, Manipur, Mizoram, Nagaland and Tripura must get a GST registration if their supply turnover exceeds Rs. 10 lakh. As mentioned above, this threshold limit applies only to businesses that operate within their home state. A business that conducts trade with another state must seek registration regardless of turnover.
Does GST apply to all businesses?
Yes, GST applies to all service providers, manufacturers and traders. It extends to any dealers, bloggers, and writers and all kinds of startups and companies, whether they are LLPs, proprietorships, partnerships or private limited companies. In certain cases GST registration is mandatory irrespective of turnover eg- interstate seller of goods, gst under reverse charge.