Application Preparation- A LegalVista GST professional will prepare your GST registration application and collect your documents with signature in the format.
Application Filing- Once the application is prepared, LegalVista will file for registration under GST with the concerned Tax Department.
GST Registration- Once the GST registration application and the attached supporting documents are verified, the Tax Department will allot GST registration number (GSTIN) for your business.
* Business related proof
Passport Size Photo
Partnership Deed/Registration Proof like Certificate Of Incorporation
Copy of Bank Statement
* For Address Proof
Ownership Proof (Electricity Bill etc) – if property is owned
Rent Agreement (if property is on rent)
WHO IS REQUIRED TO GET GST REGISTRATION?
Any person (individual or entity) that fulfills any of the following conditions needs to get GST Registration compulsorily:
Having an annual aggregate turnover from operations in a state which is above the threshold limit of Rs. 20 Lakhs (Rs. 10 Lakhs for North-Eastern States).
Currently registered under any of the existing indirect tax regimes (VAT, Excise Laws, Service Tax Laws) irrespective of the threshold limit.
Having operations in multiple states.
Having multiple business verticals in one state.
Persons making any Inter-State taxable supply (e.g. from Delhi to Maharashtra).
Casual taxable persons & Non-resident Taxable person.
Persons who are required to pay tax under Reverse Charge.
Persons who are required to deduct tax at source.
Agents of a supplier.
Input Service Distributor.
Persons who supply goods or services through E-commerce Operator.
E-commerce Operator/ Aggregator who supplies services under his brand name (e.g. Flipkart, Amazon).
Supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person.
WHO IS NOT REQUIRED TO GET GST REGISTRATION?
Any person who is engaged exclusively in the business of supplying goods or services that are not liable to tax under GST or wholly exempt from tax under GST is exempt from obtaining GST registration.
Also, an agriculturist, to the extent of supply of produce out of cultivation of land is exempt from obtaining GST registration. Under GST, agriculturist means an individual or a Hindu Undivided Family who undertakes cultivation of land:
By own labour, or
By the labour of family, or
By servants on wages payable in cash or kind or by hired labour under personal supervision or the personal supervision of any member of the family;
Goods and Service Tax is a tax proposed to be levied on supply of goods and services right from the point of manufacturing to final consumption by user. In short it is a destination based tax accruing at the place of sale/ supply.
- Unified Platform – With the implementation of GST in India, the indirect taxes have been streamlined and standardized. Under GST regime, businesses no longer have to obtain multiple VAT registrations in different States or obtain a separate VAT and Service Tax registration. A single GST registration is sufficient across India for selling or purchasing goods or providing services.
- Subsuming of Taxes – GST has subsumed various other taxes like Central Sales Tax, Additional Customs Duty, Purchase Tax, Luxury Tax, etc., Hence, under GST, many of the taxes in existence have been subsumed and made into one tax. This would make tax collection and compliance easy for businesses across the country.
- Lower Taxes – Under GST regime, GST liability accrues only if an entity crosses an annual turnover of Rs.10 lakhs in northeast or hill states, whereas for rest of India, the threshold is set at Rs.20 lakhs.
- Ease of Doing Business – Previously, many businesses like restaurants, computer sales and services businesses have to comply with both VAT and Service Tax regulations. This creates a compliance burden on the business, as they have to calculate taxes for the transaction based on different rates for different items. Under GST, the distinction between goods and services has gone – making doing business easy.
- Larger Tax Base – GST is expected to increase the tax base in India significantly. Hence, the overall tax liability for businesses is expected to reduce overtime, as more and more businesses become compliant. Further, GST will use the latest in technology, including data from Aadhaar database, PAN database, etc., to make GST registration and GST return filing process, as seamless as possible.
There are basically two types of exemption and remedies available to the taxpayer, one is basic exemption and another is the composition scheme. Let us understand both:
- BASIC EXEMPTION UNDER GST – As per the GST law, if any person supplies goods or services for the value of more than Rs.20 lakh, then GST registration shall be mandatory and he shall have to apply for GST registration within 30 days. Further, the basic exemption of Rs.20 lakh is not applicable for north eastern states including Jammu & Kashmir (J&k), Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh and Uttrakhand. For these states, the basic exemption limit is Rs.10 lakh.
- COMPOSITION SCHEME (LEVY) UNDER GST – To avail the composition scheme, one must apply to the department only if the total turnover is less than 50 lakh. Further, that person should not sell outside the state. The composition rate may be 2.5% in case of manufacturer and 1% in case of others.
Yes, business units even though registered with the same name and under the same PAN will have to apply for separate registration for each such unit is within the same state.
No, If you are a small dealer and does not have a VAT / TIN number, you are not required to register under GST.
For Service Providers, registered under Service Tax, the GST migration will start from 1st January 2017. Those who are registered under Service Tax or in Central Excise can able to migrate themselves in GST System. The drive for them will starts from 1st Jan 2017 and valid till 31st Jan 2017.