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Goods & Services Tax Registration (GST)

What is GST?

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Launched on July 1 2017, the Goods & Services Tax (GST) applies to all Indian service providers (including freelancers), traders and manufacturers. A variety of Central taxes like Service Tax, Excise Duty, CST and state taxes like Entertainment Tax, Luxury Tax, Octroi, VAT are absorbed in one tax – GST, implemented on 01.07.2017.  GST is to be charged at every step of the supply chain, with full set-off benefits available. The procedure for GST is entirely online and requires no manual intervention

Every product goes through multiple stages along the supply chain, which includes the purchasing of raw materials, manufacturing, sale to the wholesaler, selling to the retailer and then the final sale to the consumer. Interestingly,  GST will be levied on all of these 3 stages. Let’s say if a product is produced in West Bengal but is being consumed in Uttar Pradesh, the entire revenue will go to Uttar Pradesh.

Also, taxpayers with a turnover of less than Rs.1.5 crore can choose composition scheme to get rid of tedious GST formalities and pay GST at a fixed rate of turnover.

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Types of GST

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India has a Dual GST Model. Under this tax maybe levied simultaneously by both Central and State governments on certain taxable supplies. Such as on inter-state supplies, tax is levied by Central Government.

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FeaturesCentral GST – CGSTState GST – SGSTIntegrated GST – IGST
ApplicabilitySupplies inside a stateSupplies inside a stateInterstate supplies and import
Input Tax CreditAgainst CGST and IGSTAgainst SGST and IGSTAgainst CGST, SGST, and IGST
Tax Revenue SharingCentral GovernmentState GovernmentShared between State and Central governments
Tax Levied ByCentral Government on Intra-State supplies
of Goods and/or Services
State Government, on Intra-State suppliesCentral Government, on Inter-State supplies
Free SuppliesApplicableApplicableApplicable

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Document Requirements for GST Registration

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GST Registration is a PAN based registration which is done online and for one PAN multiple GST registration can be obtained based on the location or business vertical. The registration must be applied within 30 days of, the coverage and to apply the same soft copy of documents are required. Following is the list of documents required for GST registration in India.

Limited Liability Partnership LLP
1. Document for GST Registration of Proprietorship / Individual
1. Document for GST Registration of Proprietorship / Individual
2. Document for GST Registration of LLP / Partnership
2. Document for GST Registration of LLP / Partnership
3. Documents of GST Registration of Company
3. Documents of GST Registration of Company

Who Need to Get GST Registration?

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Businesses are required to register for GST if they fall into one of the following criteria.

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01

Aggregate Turnover

Any service provider who provides a service value of more than Rs. 20 Lakhs aggregate in a year is required to obtain GST registration. In the special category states, this limit is Rs. 10 lakhs. Any entity engaged in the exclusive supply of goods whose aggregate turnover crosses Rs.40 lakhs is required to obtain GST registration.
02

Inter-state business

An entity shall register for GST if they supply goods inter state, i.e., from one state to another irrespective of their aggregate turnover. Inter state service providers need to obtain GST registration only if their annual turnover exceeds Rs. 20 lakhs. (In special category states, this limit is Rs. 10 lakhs).
03

E-commerce platform

Any individual supplying goods or services through an e-commerce platform shall apply for GST registration. The individual shall register irrespective of the turnover. Hence, sellers on Flipkart, Amazon and other e-commerce platforms must obtain registration to commence activity.
04

Casual taxable persons

Any individual undertaking supply of goods, services seasonally or intermittently through a temporary stall or shop must apply for GST. The individual shall apply irrespective of the annual aggregate turnover.
05

Voluntary registration

Any entity can obtain GST registration voluntarily. Earlier, any entity who obtained GST voluntarily could not surrender the registration for up to a year. However, after revisions, voluntary GST registration can be surrendered by the applicant at any time.

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What Types of GST Registration?

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The types of GST registration varies depending on the kind of business undertaken and the supply location of goods or services.

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How Much I Need to Pay for GST Registration?

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The Cost of GST Registration / License a would vary from INR 1199/- to INR 8555/- (GST Excluded) depending upon the plan you choose.

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Accounts

Free Trial

Projects

SSL

BASIC

Rs 1199/-

ONE TIME FEE

GST Registrations

X

X

 X

STANDARD

Rs 3499/-

ONE TIME FEE

GST Registrations

Bank A/c Opening Documents

3 Month GST Return Filling 

Accounting Software

PREMIUM

Rs 8555/-

ONE TIME FEE

GST Registrations

Bank A/c Opening Documents

1 Year GST Return Filling 

Accounting Software