Entities and businesses in India are mandated to complete the GST Registration online. Those entities that do not require GST Registration can also benefit greatly by registering on voluntary basis, and gain legal rights as a recognised goods/services supplier thus enabling themselves to levy GST on customers. By following some easy steps as mentioned here, entities as taxpayers can get a host of benefits and achieve business growth.
- The GST registration process starts with filing the application form. We enables businesses to save valuable time and efforts through seamless services pertaining to new GST registration, amendment of GST registration and cancellation of GST registration.
- Those applying for registration will be required to furnish important details after verifying themselves as a taxpayer or GST practitioner. The details required in Part A of the form are legal name of their business, Permanent Account Number, the location of the business establishment, contact details, etc.
- Essential documents for verification should be uploaded online.
- The applicants will be sent an Application Reference Number via SMS or email, after filling complete form including Part B.
- If traders have multiple branches in different states, they must complete separate registration process for each state. Businesses having more than one vertical are required to register separately for each of the verticals.
Eligibility Criteria for GST
GST Registration is not mandatory for those engaged in supply of agricultural produce from cultivation, making only exempt supplies of goods and services, or making supplies that are entirely covered under reverse charge. Registering under GST composition scheme helps small taxpayers by reducing the tax burden. However, GST Registration is mandatory for the following individuals/ entities:
- Those registered under the pre-GST law (Excise, Service Tax, VAT, etc.)
- Businesses having turnover above the specified threshold limit (Rs. 40 lakh for small businesses and Rs. 20 lakh for hilly and northeastern states, as per recent regulations)
- Non-resident Indian (NRI) taxable persons
- Those who pay tax under reverse charge mechanism
- Entities involving in e-commerce or supply of goods and services via e-commerce operators
- All e-commerce aggregators
- Individuals eligible for TDS (tax deducted at source)
- Entities involved in provision of online information or retrieval services or database access, from overseas location to a person within India, other than a registered taxable person.
Documents Required for GST
To ensure the GST Registration is executed without any hassle, the applicants must furnish a set of vital documents which will be submitted to the authorities for verification purposes. The documents include the permanent account number of the individual or entity, the address or location proof of the business, Aadhar card , bank account statement or a cancelled cheque, the proof of registration of the business or the certificate of incorporation, digital signature, the identity and address proofs of the promoters or directors and a letter of authorisation or board resolution for authorised signatory.
GST Return Filing
Filing of GST Returns is an obligation which needs to be fulfilled by all businesses under the GST regime. Dealers registered under GST have to file annual and monthly returns which can be done through a simple online procedure. At UPHILL we delivers exceptional services for all GST related requirements through robust solutions such as E-Raahi, a mobile application and desktop application for creation of e-way bills and consolidated invoice report for GST filing.
A GST Return is a document mentioning details of income a taxpayer is required to file with the concerned tax authority on the basis of which the tax liability will be determined. A registered dealer needs to file GST returns entailing Purchases, Sales, Output GST (on sales) and Input tax credit (GST paid on purchases). The various kinds of GST returns filed by taxpayers are GSTR – 1, GSTR – 2, GSTR – 2A, etc.
GST Registration Fees
Although the government of India does not charge any fee for the purpose of GST Registration under the Goods and Services Tax (GST) regime, individuals and entities registering for GST through the online registration process are required to pay a fee for the services availed from professionals. By choosing professional services by Alankit, entities can look forward to lucrative deals that are guaranteed to be pocket-friendly.
GST Registration with UPHILL is a simplified and no-hassle process wherein the applicants only need to submit the essential documents, furnish relevant details like particulars of the business operation and pay the fee charged by their service provider.
Penalty for not doing GST Registration
All the individuals and entities who qualify under the eligibility criteria are mandated to go through GST Registration. Defaulters who fail to comply with the rules and do not pay the tax or make short payments (genuine errors) instead of full payment are liable to pay a penalty. The penalty for tax evasion by an offender will be 100% of the tax amount due. The amount to be paid as penalty for not registering under GST is 10% of the total tax amount due subject to a minimum of Rs. 10,000.We