GST Registration

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What is GST?

The Goods and Services Tax (GST), which came into force on July 1, 2017, is applicable to all Indian service providers, traders, and manufacturers. Taxes such as Service Tax and Excise Duty, and state taxes such as Entertainment Tax, Luxury Tax and Octroi have been consolidated into one tax – GST. GST will be levied at every stage of the supply chain.

There are no manual steps in the GST process because it’s all done online. Supply chain stages include purchasing raw materials and manufacturing, selling to a wholesaler and retailer, and finally selling to the end-user or customer.


Who has to do GST Registration?

Every business selling goods and services has to register for GST. GST Registration is mandatory for companies with a yearly turnover of more than Rs. 20 lakhs (for services) and Rs. 40 lakhs (for goods)

All businesses that make interstate outbound sales of goods must also register for the GST. Agents and Brokers are examples of businesses that make taxable supplies on behalf of other taxpayers.

Furthermore, e-commerce sellers/aggregators do not need to register if their total sales are less than 20 lakhs.


What are the Tax Rates?

Basic necessities in which taxes are exempted.

  • A 5% tax is levied on household necessities and life-saving drugs.
  • A 12% tax is levied on products such as computers and food that is processed.
  • Capital goods, industrial intermediaries, and services are all taxed at 18%.
  • There is a 28% tax on luxury items.

What are the documents required for GST Registration?

The following are the documents required for GST registration for various businesses:

  • Private Limited Company
    • Certificate of Incorporation
    • Company’s PAN Card
    • AOA (Articles of Association)
    • Association Memorandum, MOA (Signed by the board of directors)
    • Directors’ proof of identity and address
    • Digital Signature
  • Proprietorship
    • PAN Card and address proof 

These documents can be presented as proof of a director’s address:

    • Passport
    • Voter ID Card
    • Aadhar Card
    • Ration Card
    • Telephone or Electricity Bill
    • Driving License
    • Bank Account Statement

What is the Process for GST registration?

Step 1:- Login to the Website

Step2:- Go to the services tab and select GST Registration. Following that, click on GST new registration. Then, fill up the other necessary information required.

Step 3:- (Completing the Form)Fill out the requested information. This will include the business entity’s name, entity type, and PAN information.

Step 4:- Generate Temporary Reference Number (TRN)- After entering all the required information, an OTP (One Time Password) will be generated, as well as a TRN(Temporary Reference Number). 

Step 5:- GST Registration Page- Submit all business-related information. This includes all business data. 

Step 6:- Upload Required Documents- The applicant must upload all business documents.

Step 7:- Save and receive the ARN number -Finally, save and submit the application to the appropriate authority. The ARN number will be generated and sent via email and SMS.

What are the penalties for not paying GST?

The penalty for not paying taxes under the CGST and SGST is Rs. 100 per day, with an Rs. 200 penalties for late payment. The maximum allowed is 5000 rupees. If you file your IGST return late, there is no penalty. In addition to the GST late fee, interest at the rate of 18% will be charged. 

There are strict penalties for non-compliance with the rules of GST registration under section 122 of the CGST act.

FAQs for GST registration

✅ Is it possible to register for GST without paying a fee?

GST registration can be completed online for free. If you do not register for GST, you will face a 10% penalty on the tax you owe. In addition, small business owners can benefit from voluntary GST registration. GSTIN is a one-of-a-kind GST Identification Number assigned to GST-registered businesses.

✅ How to calculate GST?

GST is easily calculated by multiplying the Taxable amount by the GST rate. If CGST and SGST/UTGST are applied, the CGST and SGST amounts are half of the total GST amount. GST is levied on the transaction amount rather than the MRP.