Name: GST Registration
SKU: 289
Price: 999.00 INR
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Below Business Require to Register for GST

Aggregate turnover

Any service provider who provides service value of more than Rs. 20 Lakhs or any Manufacturer or Trader supply goods of value more then Rs. 40 Lakhs aggregate in a year is required to obtain GST registration. In the special category states, this limit is Rs. 10 lakhs.

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

Inter-state business

An entity shall register for GST if they supply goods interstate, i.e., from one state to another irrespective of their aggregate turnover. Interstate 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).

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.

Concept

GST is consolidated indirect tax policy that encompasses VAT, CST, Service Tax, Escise duty, Entertainment Tax etc and is valid all over India with effect from 1st July 2017

When to register for GST

Mandatory to register under GST when annual turnover exceeds INR 40/20 lakh or supply goods and services inter-state or through e-commerce platform

What are the GST rates?

Tax rates vary from 0-28% depends on the type of good & nature of the services you are selling.

Input Tax Credit Availment

Only business unit registered under GST can avail credit of tax paid at the time of purchase while filing GST returns.

Return Filing & Payment

Every GST registrant requires to file three monthly/quarterly returns and One annual return. Requies paying tax every month.

Composition Scheme

Business unit having and annual turnover less than INR1.5 crore may opt the scheme. Requires to pay subsidize tax ranges from 1% to 5% & file quarterly return.

WHAT IS GST COMPOSITION SCHEME?

GST Composition Scheme is for the small taxpayers, which is framed to reduce the tax compliance burden. Small taxpayers need not file monthly GST returns and they need to pay nominal GST at a fixed rate of turnover. Any business having an annual turnover up to ₹1.5 Crore can opt for GST registration under composition scheme.

	Composition Scheme	Regular Scheme
Compliance	Relaxed Compliance in order to safeguard small businessmen.	Normal compliance required.
Tax Rate	Composition taxpayers need to pay nominal GST at a fixed rate of turnover, which is normally 1-5%.	Tax rate for regular taxpayers goods and services, which is from 0-28%.
Input Tax Credit	Composition taxpayers cannot avail Input tax credit benefit.	Normal taxpayers can avail Input tax credit benefit.
GST Return Filing	Composition taxpayers required to file quarterly return.	Normal taxpayers required to file monthly return.
Tax Invoice	Composition taxpayers can not issue tax invoice to their customers.	Normal taxpayers can issue tax invoice to their customers.

Documents Require for GST Registration

Pan Card of the Business or Applicant
GSTN is linked to the PAN Card.

Identity and Address Book Proof of Promoters
Documents like PAN, passport, driving license, Aadhaar card or voters identity card must available of all promoters.

Address Proof for the Place of Business
Rental Agreement or Sales deed , Electricity bill or latest property tax receipt or Muncipal khata copy

Bank Account Proof
Scanned copy of the first page of bank passbook with a few transaction and address of the business require.

1 review for GST Registration

Rated 1 out of 5

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GST Registration