Goods & Services Tax Registration

Goods & Services Tax (GST) was launched on 1 July 2017; it applies to all Indian services providers like traders, manufacturers...

Eligibility to Start

• Businesses with a turnover over Rs. 40 lakhs.
• Service providers with a turnover exceeding Rs. 20 lakhs.

GST Tax Rates

• Basic necessities: Exempt
• Household items & drugs: 5%
• Luxury items: 28%

Procedure for GST Registration Process

1. Fill the online application on the GST portal.
2. Create a username and password.
3. Click on ‘New User Login’ and proceed with registration.
4. Enter the required details (business name, PAN card, etc.).
5. Enter the OTP received on email and mobile number.
6. Save the Temporary Reference Number (TRN).
7. Log in using the TRN and proceed with the application.
8. Submit required documents and details.
9. Complete the verification and submit the application.
10. Receive the ARN (Application Reference Number) and check status on the GST portal.

Documents Required For GST Registration

• Sole Proprietorship: Aadhaar card, PAN card, photograph, bank details, office address proof.
• Partnership Firm: Aadhaar card, PAN card, bank details, proof of address.
• Company: PAN card, MOA/AOA, Aadhaar card, bank details, proof of address.

GSTIN

GSTIN is a unique 15-digit alphanumeric code allotted to each registered Firm/Company/Individual...

Penalties for Non-Compliance

• Penalty for not getting GST registration: 100% of tax amount or Rs. 10,000, whichever is higher.
• Penalty for incorrect invoicing: Rs. 25,000.
• Penalty for not filing returns: Rs. 50 per day, up to Rs. 5,000.