Overview

GST registration is a process of obtaining GST (Goods and Service Tax) Number, it is a unique identification for a business, which is liable to pay goods and service tax. There is a legal requirement for business to obtain GST number. Businesses with more than 40 lakhs turnover per annual (20 lakhs for some special category states) and 20 lakhs in case of service are required to obtain GST number. 

If any entity and company operate business without GST number despite crossing the threshold limit as prescribed above, will have to face penalties as it is offence. Therefore, it is mandatory to generate the GSTIN if turnover exceeds from mentioned amount.

Why

After GST was introduced in India, it has removed various indirect taxes such as Excise, Octroi, Sales tax, Service tax. CENVAT, Turnover tax etc. It has resulted in bringing positive change and eliminating other charges for a common man. There are also other benefits of GST registration for businesses, they are as follows: -

1. Legal Recognition:- If any firm has a GST registration the it also obtains legal recognition of supplying goods and services. Somewhere or other it also expresses company’s legal status as an official entity.

2. Input Tax Credit (ITC):- Businesses are eligible to deduct GST on purchases from the GST they collect on sales by claiming ITC. (Business are eligible to claim Input Tax Credit on the Purchase and expenses they incurred during the business operations.)

3. Simplified Process:- Process has been simplified and removed the complexity, with the help one single platform businesses can easily manage their tax obligations effectively.

4. Composition Scheme:- Composition scheme under GST is for small business that allows them to pay tax at lower  and fix rate (@1% of the turnover), this helps in reducing the tax burden and compliance requirement for small business.

5. Threshold for GST Registration:- Only business with more than 40 lakhs turnover annually are required to obtain GST registration, this excludes several small business from GST registration to make their operational process easy.

Process

The legal procedure of GST registration is completely online at www.gst.gov.in, it can be as follows: -

• First manage all the documents as per requirement

• Authorisation to CRSPL and its representative to file the registration form

• Filing registration form for registration

• Obtaining certificate of registration of GST

Documents

The required documents are as follows, depending upon the business type: -

• PAN card of applicant

• Aadhar card of applicant/partner/director

• Incorporation certificate/proof of business registration

• Identity and address proof of the applicant with photo

• Letter of authorization/board resolution for authorized signatory

• Nature of business entity 

• HSN Codes for Goods and SAC for Services at least 4. 

For Company

• Copy of PAN card

• Copy of incorporation certificate

• Copy of PAN and Aadhar of all directors

• Copy of address proof (rent agreement/electricity bill/NOC from owner for premises)

• Nature of business activity 

• Mobile number and email ID of Directors

• Letter of authorization/board resolution for authorized signatory 

• Photographs of every directors

For Partnership Firm/Limited Liability Partnership Firms

• Copy of PAN card

• Copy of incorporation certificate (In case of LLP)/Partnership Deed (In case of Firm)

• Copy of PAN and Aadhar of all Partners

• Copy of address proof (rent agreement/electricity bill/NOC from owner for premises)

• Mobile number and email ID of every partner

• Photographs of every Partners

For Proprietorship Firm

• Copy of PAN and Aadhar Card

• Copy of address proof (rent agreement/electricity bill/NOC from owner for premises)

• Mobile number and email ID of proprietor 

• Photograph of proprietor

Why Should You Choose CRSPL?

1. Detailed Guidance:- The experts of CRSPL provide your every single detail and guidance so that you do not miss any step. We will keep you updated about eligibility criteria, document requirement and process of application. 

2. Preparation Assistance:- CRSPL assist you in preparing all necessary documents for the successful application. 

3. Application Submission:- CRSPL handles the entire application submission process by ensuring all the details are accurate and in proper manner on behalf of our client.

4. Follow-up Support:- CRSPL will proactively tracking the status of your application and also keeping you informed about the process with timely updates. 

5. Expert Consultants:- For any query related to business, you can meet business consultants at CRSPL, they are readily available to assist you.