GST Registration has become a mandatory step for almost all businesses. However, it demands a lot of time and effort if done individually, and hence StartupYo eases the process by helping you with GST registration and facilitates with many resources, information, support and also provides various online tools to assist individuals and businesses. It simplifies this GST registration process for you and also enhances and ensures accurate and efficient registration application handling.
To businesses that have registered for the Goods and Services Tax (GST) scheme, the Indian government gives GST Certificates. It serves as proof of the company’s GST registration and includes details such as the GST identification number, name, and address. Businesses need to acquire a GST Certificate in order to be allowed to charge and collect GST from clients. It can also be used to participate in tenders, request financing, and get input tax breaks.
The GST is divided into three tax components, which are CGST, SGST, and IGST.
CGST is imposed by the central government on all transactions within a state.
SGST is a state component that is imposed on all transactions within a state by both the central and state governments. Both CGST and SGST are applicable to intra-state transactions.
IGST is levied by the central government when a transaction takes place between two different states. It is designed to ensure that the revenue generated from inter-state transactions is appropriately divided between the Centre and the State.
- Any person or organization that conducts taxable supplies of goods or services
- The company’s annual revenue exceeds the threshold limit, which is presently 20 lakhs for most enterprises.
- Operators of e-commerce who make it easier to supply goods and services through their platform
- Taxable non-residents who sporadically provide products or services in India
- Businesses that offer products or services across state lines
- Distributors of input services who give their branches or units input tax credits
- Casual taxable individuals who occasionally provide products or services in India
- Businesses that have transitioned to GST but were previously registered under the former tax system (VAT, Service Tax, etc.).
- 0% – This rate is valid for basic goods such food grains, fresh vegetables, and medical equipment.
- 5% -This rate is applicable to Food that has been processed or packaged, as well as various home goods.
- 12% – This rate is applicable to products including television sets, laptops, and cell phones.
- 18%. – This rate is applicable to items like air conditioners, refrigerators, and washing machines
This charge is applicable to products including upscale automobiles, cigarettes, and aerated beverages.
There are some unique rates that are applied to particular items and services in addition to these prices. For instance, the tax rate on gold is 3%, whereas the rate on crude oil and natural gas is 6%. Additionally, an 18% GST is charged on services including banking, insurance, and communications.
- PAN Card
- Address proof of the proprietor
- PAN Card of LLP
- LLP Agreement
- Partners’ names and address proof
- Certificate of Incorporation
- PAN Card of Company
- Articles of Association, AOA
- Memorandum of Association
- Resolution signed by board members
- Identity and address proof of directors
- Digital Signature
An e-way bill is a document that contains details of transported goods in India. This electronic way bill service was introduced as part of the Goods and Services Tax (GST) in India for the seamless movement of goods and also to reduce tax evasion.
This electronic document which is generated online does not only contain details of the transported goods but also has information about the transportation mode, vehicle number and the goods’ value. With the help of e-way bills the tax authorities can easily track the goods movement and can even verify whether the transported goods comply with the applicable tax regulations. It ensures a transparent system and helps in the proper payment of GST.
What are the types of GST registration?
There are four GST types namely
- Integrated Goods and Services Tax (IGST)
- State Goods and Services Tax (SGST)
- Central Goods and Services Tax (CGST), and
- Union Territory Goods and Services Tax (UTGST)
The taxation rate under each of them is different.
What are the benefits of GST registration?
- Eliminates the cascading effect of tax
- Composition scheme for small business
- Simple and easy online procedure
- Defined treatment for e-commerce operators
- The number of compliances is lesser
- Improved efficiency of logistics
- The unorganised sector is regulated under GST.
Can I apply for multiple GST registrations?
If a business operates in more than one state, the taxpayer must register for GST in each state separately. For example, if an automobile company sells in both Karnataka and Tamil Nadu, it must apply for GST registrations separately in both states.
What is the threshold limit for GST registration?
Businesses involved in the sale of goods whose turnover exceeds ₹40 lakhs (₹20 lakhs for north-eastern and hill states) are required to register as a normal taxable person. For service providers, the threshold is ₹20 lakhs (₹10 lakhs for north-eastern and hill states).
What happens once the GST registration process is over?
Once the GST registration process is over successfully, you will get a GST registration certificate and a valid GSTIN. You become eligible to claim the input tax credit and you can start filing GST returns.
We can take care of your GST filings if you want. Just like the registration process, we make filing easy and comfortable.
How long can I wait to register under GST?
Any person should get a GST registration within 30 days from the date on which they become liable to register.
Is GST charged on exported goods and services?
No, GST is not charged on exported goods and services. GST is a tax based on consumption and since in the case of export, the goods/services are not consumed in India, it is not taxed.
Is it mandatory for an e-commerce operator to obtain GST registration?
Yes, it is mandatory for e-commerce operators to get their GST registration done. The threshold limit doesn’t apply to them.
What happens if the GST application is rejected?
If you applied for GST registration and your application was rejected, you will get a chance to reply to the rejection letter. However, if you wish to make a new application, then you would have to wait for a final rejection, which will take around 10 days.
Can we apply for GST after cancellation?
The taxpayers whose GST registrations have been cancelled are mandatorily required to apply for a new one. Without a GST registration, taxpayers will not be able to continue their businesses.
