Startup Salahkar

Puja Mohan & Associates
Company Secretaries
  • +91 93309 55300
  • startupsalahkar@gmail.com
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GST Registration

GST registration is the process of obtaining a unique GSTIN for businesses required to pay Goods and Services Tax (GST), as per the 2017 GST Act. The GSTIN is a 15-digit number that identifies businesses under the GST system, replacing VAT and other taxes. Registration is mandatory for eCommerce sellers and can be done online via the GST portal, with an ARN generated upon submission.

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    Benefits:

    Legal Recognition

    GST registration grants businesses official legal status as suppliers of goods or services.

    Input Tax Credit (ITC)

    Registered businesses can claim ITC, reducing tax liability by offsetting taxes paid on purchases against those collected on sales.

    Simplified Compliance:

    GST streamlines tax filings and payments, reducing complexity through a unified online platform.

    Composition Scheme

    Small businesses can opt for a lower tax rate under the Composition Scheme, easing their compliance and financial burden.

    Elimination of Cascading Taxes

    GST allows input tax credit across the supply chain, removing the cascading effect of taxes and lowering overall costs.

    GST Registration Threshold Limits:

    1. Goods Suppliers:
      • ₹40 lakh turnover (₹20 lakh for special states) requires GST registration.
    2. Service Providers:
      • ₹20 lakh turnover (₹10 lakh for special states) mandates GST registration.
    3. E-commerce Sellers:
      • All e-commerce sellers must register, regardless of turnover.
    4. Interstate Sales:
      • Businesses engaged in interstate sales must register, regardless of turnover.
    5. Other Cases:
      • Businesses under reverse charge or engaging in casual taxable supplies must register.
    6. Voluntary Registration:
      • Businesses below the threshold can opt for voluntary registration to claim Input Tax Credit (ITC) and enjoy other benefits.

    Suggested Documents Required for GST Registration:

    1. PAN Card of the applicant
    2. Aadhaar card
    3. Email id and Mobile number
    4. Business Registration or Incorporation certificate
    5. Identity & Address Proof of promoters/directors with photographs
    6. Proof of Business Address (e.g., rent agreement, property documents)
    7. Utility Bills (e.g., electricity, water bill) for the business location
    8. Bank Account Details, including a statement or canceled cheque
    9. Digital Signature Certificate
    10. Letter of Authorization or Board Resolution for the authorized signatory etc