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GST

GST Registration in India is a popular choice among entrepreneurs due to its benefits such as GST Registration, separate legal entity, and ease of raising capital. 

BUSINESS REGISTRATION

GST Registration

Registering your company as a GST Registration could be the key to unlocking unparalleled growth opportunities.

Overview of GST Registration in India.

GST (Goods and Services Tax) Registration is mandatory for businesses in India whose turnover exceeds a certain threshold. It is a unified tax system that aims to streamline the taxation process by replacing various indirect taxes levied by the central and state governments.

  1. Turnover Threshold: Businesses with an annual turnover exceeding Rs. 40 lakhs (Rs. 10 lakhs for northeastern states) must register for GST.
  2. Voluntary Registration: Businesses below the turnover threshold can also opt for voluntary registration to avail of the benefits of GST.

Benefits of GST Registration in India

  1. Legitimacy: GST registration lends legitimacy to the business and enhances its credibility.
  2. Input Tax Credit: Registered businesses can claim input tax credit on GST paid on purchases, thereby reducing the overall tax liability.
  3. Pan-India Operations: With GST registration, businesses can operate seamlessly across state borders without worrying about multiple taxes.
  4. Compliance: It ensures compliance with tax laws, avoiding penalties and legal consequences.
  5. Competitive Advantage: Being GST registered can give a competitive edge in the market, especially for B2B transactions.

How Register Helps in the GST Registration Process?

  1. Visit the GST portal (www.gst.gov.in).
  2. Click on the “Services” tab and select “Registration.”
  3. Fill out the GST REG-01 form with required details.
  4. Upload necessary documents.
  5. The application will be verified by a GST officer.
  6. Upon successful verification, a GST registration certificate will be issued.

Documents Required for GST Registration in India

  1. PAN Card
  2. Aadhar Card
  3. Proof of business registration or incorporation certificate
  4. Address proof of place of business
  5. Bank account statement or canceled cheque
  6. Digital signature (in case of companies)
  7. Photographs of the proprietor/partners/directors
  8. Authorization form for authorized signatory

Faq - Company Registration

Any business or individual involved in the supply of goods or services with an aggregate turnover exceeding the threshold limit specified by the GST law must register for GST.

The threshold limit for GST registration varies based on the nature of the business and the state in which it operates. For most states, the threshold limit is an aggregate turnover of ₹40 lakhs for goods suppliers and ₹20 lakhs for service providers.

No, GST registration is not mandatory for businesses whose aggregate turnover is below the threshold limit. However, they have the option to voluntarily register for GST.

Failure to register for GST when required can result in penalties and legal consequences imposed by the tax authorities. Additionally, the business may lose out on input tax credit and face difficulties in conducting business transactions.

No, GST registration must be done online through the GST portal (www.gst.gov.in). There is no provision for offline registration.

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