GST Registration
Complete your GST Registration Online in a minute with us at a minimal cost starting from INR 1799/- only.
Complete your GST Registration Online in a minute with us at a minimal cost starting from INR 1799/- only.
GST, the Goods & Service Tax, launched on July 1, 2017. It is an indirect tax, that is imposed on the supply of goods and services across the country. GST brings uniformity in the Indirect Tax Structure by replacing all the indirect taxes like VAT, service tax, excise duty, etc. & simply incorporate the concept “One Nation One Tax”
The process of GST Registration is completely online and requires no manual mediation.
To collect the tax on behalf of the Government, business entities must get registered under the GST Law & obtain a unique number from the concerned tax authorities.
Persons who fulfill the following criteria require the GST number:
Note: Without GST registration, a person is not eligible to collect tax from his customers and also can not claim any credit of tax paid by him.
GSTIN is a unique identification number given to each GST taxpayer. To verify a GSTIN number a person who has a GST number can log onto the GST portal.
The government has proposed a 4-tier tax structure for all goods and services under the slabs- 5%, 12%, 18%, and 28%.
IGST, CGST, and SGST are categories of GST that are charged by Central and State Governments on the basis of supply and consumption.
Companies whose turnover is more than Rs.20 lakhs (for the supply of goods/services) and Rs. 40 lakhs (for the supply of goods/services) yearly to register for a GST.
Composition Scheme applies to small businesses whose turnover is up to INR 1.50 Crore. This means that these businesses do not have to charge and pay regular tax rates. Instead, they have the liberty to discharge GST liability @1% in the case of traders and manufacturers and 5% in the case of restaurants.
So many benefits of GST to the Indian Economy like the removal of bundled indirect taxes such as VAT, CST, Service tax, CAD, SAD, and Excise. Less tax compliance and a simplified tax policy compared to the current tax structure. Removal of cascading effect of taxes i.e. removes tax on tax.
The list of documents required for registration of GST for various business are as follows:
Proprietorship
LLP
Private Limited Company
The following can be shown as proof of address of a director:-
Fill a simple form & get documents verification.
Submit the application on portal for GST registration.
ARN Number generated.
Received GSTIN
A compliance manager will get in touch with you to collect your documents along with a simple checklist. You need to fill up that checklist and submit along with your documents for verification. Our team of experts will verify the documents provided by you and take the procedure further. The compliance manager dedicated to you will keep you updated on the progress of Company Registration throughout the process.
Once your documents along with Checklist are submitted, we shall proceed with the application of your Digital Signature and subsequently the approval of name for your Private Limited Company. You may suggest up to three names of your choice. Names should be unique and suggestive of the Company’s business. We will proceed with application for name for your Private Limited Company in Part A of SPICe Plus form.
We will draft the MOA (Memorandum of association) and AOA (Articles of association). We will file the incorporation documents with MCA through in part B of a form called “SPICe Plus (SPICe +)” along with the subscription statement. Usually, MCA approves the forms within 4-5 days once filed and issues Incorporation Certificate with CIN. PAN & TAN are allotted alongside. You may then proceed to open your Company Bank Account.
If a business operates from more than one state, then a separate GST registration is required for each state. For instance, If a sweet vendor sells in Karnataka and Tamil Nadu, he has to apply for separate GST registration in Karnataka and TN respectively.A business with multiple business verticals in a state may obtain a separate registration for each business vertical.
Small businesses having an annual turnover of less than Rs. 1.5 crore** ( Rs. 75 Lakhs for the NE States) can opt for a composition scheme.**CBIC has notified the increase in the threshold turnover for opting into the Composition Scheme from Rs 1 crore to Rs 1.5 crores. The notification will be effective from 1st April 2019.
Composition dealers will pay nominal tax rates based on the type of business:
Composition scheme is not applicable to :
This scheme is a lucrative option for all SMEs who want lower compliance and lower rates of taxes under GST.A GST taxpayer whose turnover is below Rs 1.5 crore** can opt for Composition Scheme. In the case of North-Eastern states and Himachal Pradesh, the present limit is Rs 75 lakh.
Turnover of all businesses registered with the same PAN should be taken into consideration to calculate turnover.
**CBIC has notified the increase in the threshold turnover for opting into the Composition Scheme from Rs 1 crore to Rs 1.5 crores. The notification will be effective from 1st April 2019. Learn the Rules about the Composition scheme & Know the pros & cons of being a composition dealer.
Obtain GST registration and file CMP-02 to opt-in for the scheme.
A. For normal registered businesses:
B. For Composition dealers:
C. For businesses that voluntarily opt-in for GST registration (Below Rs. 40 lakhs*)
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