Ashish Garg & Associates GST

GST

GST Registration: Requirements, Process, & Expert Assistance

Overview of GST Registration Online

Goods and Services Tax (GST) is a comprehensive indirect tax system introduced in India to replace multiple indirect taxes like VAT, service tax, and excise duty. GST registration is mandatory for businesses crossing a certain turnover threshold or involved in inter-state supply of goods or services. It allows businesses to collect tax legally and avail Input Tax Credit (ITC). The entire GST registration process is online, making it hassle-free and accessible for taxpayers.

Key Components of GST Registration

  1. GSTIN: A 15-digit Goods and Services Tax Identification Number issued upon registration. It is unique to every taxpayer and helps track tax payments and filings.
  2. GST Certificate: An official document provided to registered taxpayers. It serves as proof of registration and must be displayed at the principal place of business.
  3. Input Tax Credit (ITC): Registered taxpayers can claim a credit for the GST paid on purchases, reducing their overall tax liability.

Who is Required to Register for GST?

GST registration is mandatory for the following entities:

  1. Turnover Threshold:
    • Businesses with an annual turnover exceeding Rs. 40 lakh (Rs. 20 lakh for service providers).
    • For special category states, the threshold is Rs. 20 lakh for goods and Rs. 10 lakh for services.
  2. Inter-State Suppliers: Entities supplying goods or services across state borders must register for GST.
  3. E-Commerce Operators: Platforms facilitating the supply of goods or services are required to register.
  4. Casual Taxable Persons: Individuals supplying goods or services occasionally in a state or union territory.
  5. Agents or Brokers: Agents of suppliers or input service distributors.
  6. Reverse Charge Mechanism (RCM): Businesses liable to pay tax under RCM provisions.
  7. Exporters and Importers: Businesses involved in exporting or importing goods or services.
  8. Other Entities: Non-resident taxable persons, businesses supplying goods through e-commerce, and entities providing online information and database access services (OIDAR).

GST Registration Turnover Limit

The GST turnover limit depends on the nature of the business and location:

  1. For Goods:
    • Rs. 40 lakh for regular states.
    • Rs. 20 lakh for special category states.
  2. For Services:
    • Rs. 20 lakh for regular states.
    • Rs. 10 lakh for special category states.

Note: The turnover includes all taxable, exempt, and export supplies but excludes GST collected.

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