What is GST Registration?
Goods and service tax is a new taxation system in India that came into force on 1 July 2017. The GST has replaced many indirect taxes in India. GST is the only indirect tax for the entire country based on the consumption of goods and services. Rules and legislation, the tax rate is governed by the Goods and Services Tax Council. Which includes the finance ministers of the Center and all states. The rate of goods and service tax varies from 0% – 28% depending on the type of service or the nature of your business. The new GST registration process should be followed in India for the GST registration process. You can also seek the help of professionals for GST services. We provide the best service for GST REGISTRATION IN JAIPUR.
Eligibility Criteria for GST
GST registration is not compulsory for those engaged in the supply of agricultural products from farming. The only exemption in the supply of goods and services or supplies that are fully covered under reverse charge. Registration tax under the GST composition scheme helps small taxpayers reduce the tax burden. However, GST registration is mandatory for the following individuals/institutions:
- Those who are registered under the pre-GST law (excise, service tax, VAT, etc.).
- Non-Resident Indian (NRI) taxable person.
- Who pays tax under the reverse charge mechanism?
- Process of new GST registration in India for the business which is doing annual business, more than 20 lakhs per year (10 lakhs for North Eastern states)
- All eCommerce aggregators.
GST Registration Procedure
The GST Registration Procedure is done online through the portal support of the Central Government. You can also register for GST from the Government Portal; however, there is a certain area in the application which will require the help of Professionals. By following some easy steps, entities such as taxpayers can get a host of benefits and achieve business growth.
- The Initial step in the GST enrollment process begins with filling out the application form.
- Those applying for enrollment will be needed to provide significant subtleties for confirming themselves as a citizen or GST practitioner. The subtleties needed in Part An of the structure are the legitimate name of their business, Permanent Account Number, the Location of the Business Foundation, contact details, and so on.
- Required Important Documents for the verification ought to be uploaded on the web.
- The candidates will be sent an Application Reference Number through SMS or email in the wake of filling the complete form, including Part B.
- If Traders have numerous branches in various states, they should finish separate enlistment measures for each state. Organizations having more than one vertical are needed to enroll independently for every one of the verticals.
After Registration every registered person paying GST is required to furnish an GST Return Filing.
Documents Required for GST Registration.
Documents required for GST to ensure that GST registration is executed without any hassle. Applicants have to submit a set of important documents that will be presented to the authorities for verification purposes.
For Proprietorship Firm Registration
- Owner’s PAN card
- Campus electricity bill
- Owner’s photo
- Letter of authorization for signature
- Owner’s Aadhar card
- Bank statement / canceled check
- Aadhaar card of owners/directors/partners
For Partnership / Private Limited Company
- PAN card of company/partnership
- PAN Card of Director / Partner
- Aadhaar Card of Director / Partner
- Photo of director/partner
- Campus electricity bill
- Involvement of participation deed/certificate
- letter of authorization
GST Registration Fees
GST Registration Fees and pricing for online goods and services tax registration vary according to the GST services of the professional. All registered businesses must file monthly, quarterly, and/or annual Goods and Service Tax Returns depending on the type of business. Different returns are required to be filed by special cases such as composition dealers.
