GST Registration

GST Registration | How to register for a GST number | India 2020

GST {Goods and Services Tax} is an indirect tax in india levied on businesses for the transportation of goods and services. GST is the single tax system which combines different taxes like service tax, VAT tax, excise duty, custom duty . GST was introduced under 122nd amendment of Indian constitution, The Constitution Act 2017. It is considered as the biggest tax reform in India

For certain businesses GST registration is mandatory. It is an offence under GST regime to continue a business without registering the GST. Under GST regime it is mandatory for companies that deal in the supply of goods and services to register for GST. Without GST registration companies will not be able to collect GST from customers or claim an input tax credit. All the businesses have to register for GST, where a unique identification number, which is referred to as GST identification number or GSTIN.

So, online GST registration is a process of registering for a GST identification number. You can register online for the GSTIN. The online registration process for GST is completely paperless and will take place digitally on the internet.

Benefits of GST Registration

It expands your business through various channels like Import-Export.

You can apply easily for various and central government tenders is you have GST registration.

You can collect taxes from customers legally and pass on the tax benefits to suppliers.

GST certificate can also be used while opening a business account or current account.

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Documents required for GST Registration

  • Identity proof and address proof of proprietorship
  • PAN card of the company
  • Address proof
  • Memorandum of association
  • Partnership deed
  • Bank account proof

Frequently Asked Questions

  • Yes, GST registration is mandatory because without GST registration companies will not be able to collect taxes from customers or claim an input tax credit. And it is also an offence to continue a business without GST registration, and heavy penalties will be levied for evading goods and services tax.

  • Any person with a taxable supply of turnover over 20 lakhs {10 lakhs for northeast} is required to registered under GST in India. The turnover limit is 20 lakh for service provider and 40 lakh for service provider except in special areas.

  • Although the Indian government does not charge any registration fee to the taxpayer. However, the process of registration is long thus, professional fee may be charged by a GST Practitioner or CA.