GST Registration

WHO NEEDS TO OBTAIN GST REGISTRATION

Any person who supplies goods and whose turnover exceeds Rs 40 lakhs in a financial year
Any person who supply Services and whose turnover exceeds Rs 20 lakhs in a financial year
All E-commerce operators irrespective of turnover
All exporters of goods or services irrespective of turnover
Interstate supply of goods or services irrespective of turnover
Any person supplying online database information from overseas to India

BASIC REQUIREMENTS FOR GST REGISTRATION

ENTITY	DOCUMENTS REQUIRED
PRIVATE LIMITED COMPANY	COI, PAN, MOA & AOA of company Self attested Copy of PAN of all Directors Self attested Copy of Address Proof (Aadhar) of all Directors Two Passport size photo of all Directors Proof of Nature of possession of premise of regd. address( i.e Rented/owned/Leased) Rent agreement or property paper (Please ensure that the rent agreement having the name of Company for business purpose and must have the same address as in electricity bill Clear scan copy (pdf) of Electricity bill of the premises not older than two months Letter of Authorization/Board Resolution (Our team will prepare it) PAN & Aadhar copy self attested of Lessor Biometric of Authorised representatives by physical presence at GST Office Physical verification of Premises along with KYC
ONE PERSON COMPANY (OPC)	COI, PAN, MOA & AOA of OPC Self attested Copy of PAN of Director Self attested Copy of Address Proof (Aadhar) of Director Two Passport size photo of Director Proof of Nature of possession of premise of regt. address( i.e Rented/owned/Leased) Rent agreement or property paper (Please ensure that the rent agreement having the name of Company for business purpose and must have the same address as in electricity bill Clear scan copy (pdf) of Electricity bill of the premises not older than two months Letter of Authorization/Board Resolution (Our team will prepare it) PAN & Aadhar copy self attested of Lessor Biometric of Authorised representatives by physical presence at GST Office Physical verification of Premises along with KYC
LIMITED LIABILITY PARTNERSHIP (LLP)	LLP Deed and PAN of LLP Self attested Copy of PAN of all Partners/Designated Partners Self attested Copy of Address Proof (Aadhar) of all Partners/Designated Partners Two Passport size photo of all Partners/Designated Partners Proof of Nature of possession of premise of regt. address( i.e Rented/owned/Leased) Rent agreement or property paper (Please ensure that the rent agreement having the name of LLP for business purpose and must have the same address as in electricity bill Clear scan copy (pdf) of Electricity bill of the premises not older than two months Letter of Authorization (Our team will prepare it) PAN & Aadhar copy self attested of Lessor Biometric of Authorised representatives by physical presence at GST Office Physical verification of Premises along with KYC

POST GST REGISTRATION COMPLIANCES IN INDIA

One must display GST registration certificate at prominent place
One must display GSTIN at entry gate of office or factory
Prepare the invoice as per GST rules
Composition player must not issue tax invoice instead Bill of supply must be issued
Regular GST player must issue Taxable invoice
One must mention place of supply in the invoice
For interstate IGST must be charged at prescribed rate and for intrastate CGST and SGST must be charged
Proper books of account must be maintained to claim input tax credit
Under the Reverse Charge mechanism a GST-registered recipient must deposit GST instead of the supplier
Start claiming ITC on all purchases made on behalf of your firm from the effective date of registration

BRIEF NOTE ON COMPOSITION SCHEME

COMPOSITION SCHEME: Supplier of goods whose annual turnover does not exceeds Rs 1.50 Crores in a financial year can opt this schemes

Tobacco, ice cream and pan masala manufacturer are NOT ELIGIBLE to avail Composition scheme

MORE ABOUT COMPOSITION SCHEMES

This is the simplest and easy scheme under GST
Taxpayer has to pay 1% of the turnover
Only one annual return has to be filed
Input Tax credit is not available
Not required to maintain detailed records
Not available to e commerce operator, casual taxpayer and Non Resident taxable person
Supplier need not issue tax invoice(no need to raise invoice with GST)
Can not supply goods interstate
The composition dealer can supply services to the extent of 10% of turn over or Rs 5 lakh whichever is higher
Composition tax players has to mention “Composition taxable person” on every bill of supply issued by them
Quarterly return is to be filed through CMP-08 by 18th of the month after the end of each quarter & One Annual Return

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FAQ

How many types of GST registration?

There are two types of GST registration.
One is registration under the Composition scheme while the other is Regular GST registration.

To whom should I make Legal Representative while applying for GST registration?

Legal representative must be such person/partner/Director
who is given authority to sign and submit the documents and to deal with GST officer if required.

Is Physical presence required for GST registration?

Yes physical presence of Authorised Representative is required
for Biometric and physical verification of documents at GST Office with schedule appointment for GST registration.
registeryourstartup.com shall do all necessary activities required on your behalf to get GST registration for your firm.

What should I do before filing an application for GST registration?

First decide the kind of registration Composition or Regular GST registration is required for your business
based on nature and volume of transactions, turnover, GST ITC and kinds of consumer or recipient you will deal with.

When should I opt for GST registration for my firm/ Company?

Your business may or may not require GST registration.
You must opt for GST registration only when the turnover exceeds Rs. 40/20 lakhs for goods and services respectively at any given point of time in one financial year (exception in North eastern States).
For E-commerce and Exporter GST is mandatory irrespective of Turnover.
(registeryourstartup.com can help you in getting GST registration for your business).

In which state should I register for GST Registration?

You should opt for GST registration in the State
where you are willing to start your business or where your supplier and consumers are based.

Can I register my firm/ Company in one state and GST registration in another state?

Yes, You can register your firm/company in one state
and can obtain GST in another state.

Can I have a virtual Registered address office for GST registration and is it legal?

In most cases Yes, You can have a virtual registered address for GST registration
but many states do not allow virtual address for GST registration.
It is advisable to take coworking space for GST registration with annual minimal charges
or you may allocate separate office space at your residence for GST registration,
provided your premises owner authorises you to have commercial activities from such premises in the executed rent agreement
(preferable for service provider only).
(registeryourstartup.com can help you in getting Premises for GST registration for your business).

When should I decide about my registrations for GST?

Once your business turnover exceeds the threshold limit
which are Rs.40 lakhs for goods and Rs. 20 lakhs for services.

Should I make different GSTIN for different businesses?

No you can have the same GSTIN for different business.

What are the applicable GST rates for goods and services in India?

The Goods and Services Tax (GST) rates in India are categorized into five major tax slabs,
along with special rates for certain items.
Exempted Items (0% GST)
5% GST
12% GST
18% GST
28% GST
Special Rates:
Precious Metals: Gold, silver, and platinum attract a concessional rate of 3% GST.
Real Estate: Under-construction properties (other than affordable housing) attract 5% GST; affordable housing attracts 1% GST.
Composition Scheme: For small businesses with turnover up to ?1.5 crore,
the GST rate is 1% for traders and manufacturers and 5% for restaurants.

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