GST Registration Online: Documents Required, Limit, Fees, Process, Penalty
What is GST Registration
Under Goods And Services Tax (GST), businesses whose turnover exceeds the threshold limit of Rs.40 lakh or Rs.20 lakh or Rs.10 lakh as the case may be, must register as a normal taxable person. For a few type of small businesses/professionals as defined under the CGST Section 10 of Composition scheme, this threshold turnover limit is Rs.1.5 crore/Rs.50 lakh respectively. For certain businesses, registratering its business under the GST law is mandatory despite turnover it makes.
The process of obtaining registration or GSTIN (GST Identification Number) in all these cases is known as GST registration.
If the entity carries on business without registering under GST when mandated, it is an offence under GST and heavy penalties will apply.
GST registration usually takes between 2-6 working days. Team Clear can help you obtain GST registration services faster in 3 easy steps!
Who should obtain the GST registration?
- Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax, etc.)
- Businesses with turnover above the threshold limit of Rs.40 lakh or Rs.20 lakh or Rs.10 lakh, as the case may be
- Persons making interstate supplies
- Casual taxable person / Non-Resident taxable person
- Agents of a supplier & Input service distributor
- Those paying tax under the reverse charge mechanism
- A person who supplies via an e-commerce aggregator (other than supplies specified under CGST Section 9(5))
- Every e-commerce aggregator under CGST Section 52
- Persons who are required to pay tax under the CGST Section 9(5)
- Government departments/offices of Government required to deduct TDS under the CGST Section 51
- Person 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
- Every person supplying online money gaming from a place outside India to a person in India
Benefits of GST registration
A. For normal registered businesses:
- Take input tax credit
- Conduct interstate business without restrictions
Click on the link to know more about the complete list of Benefits of GST
B. For Composition dealers:
- Limited compliance
- Lesser tax liability
- Less impact on working capital
- Click on the link to know more about the composition scheme
C. For businesses that voluntarily opt-in for GST registration (Below Rs.40 lakhs*):
- Avail input tax credit
- Conduct interstate business without restrictions
- Easily register on online & e-commerce websites
- Get a competitive advantage compared to other businesses
- Click on the link to know more about voluntary registrations
All about the GST registration process
GST registration can be obtained on the GST portal. One must apply for GST registration in Form REG-01 on the GST portal following steps outlined in our article “How to apply for GST registration?”. Keep all the requisite documents ready when applying for GST registration.
However, the GST registration services at Clear helps you to get your business GST registered and obtain your GSTIN. Experts at Clear will guide you through our GST registration services for the applicability and compliances under GST for your business and get your business registered under GST.
GST Registration Fees
Documents Required for GST Registration
- PAN of the Applicant
- Aadhaar card
- Proof of business registration or Incorporation certificate
- Identity and Address proof of Promoters/Director with Photographs
- Address proof of the place of business
- Bank Account statement/Cancelled cheque
- Digital Signature
- Letter of Authorisation/Board Resolution for Authorised Signatory
GSTIN
GSTIN is the 15-digit Goods and Services Tax identification number that is unique to every business operating in a certain state/UT. Once a taxpayer obtains GST registration, they'll be alloted a GSTIN for quoting it in the returns and tax invoices.
GSTIN is an important identity that every business under GST must disclose to ensure the authenticity of the vendor and the GSTIN or GST number being used in the invoice.
GST Registration Certificate
GST registration certificate is issued to taxpayers upon obtaining GST registration. It contains the details of taxpayer trade name, legal name, GSTIN, principal place of business, additional places of businesses, authorised persons, central and state juridiction and details thereof.
GST certificate must be displayed at principal place of business prominently.
Penalty for not obtaining GST registration
An offender not paying tax or making short payments (genuine errors) has to pay a penalty of 10% of the tax amount due subject to a minimum of Rs.10,000.
The penalty will at 100% of the tax amount due when the offender has deliberately evaded paying taxes
Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.
Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.
CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.
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