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GST Registration

What is GST Registration?

The word GST full form stands for Goods and Services Tax. Under the GST regime, those business firms whose annual turnover is more than Rs 20 lakh (in case of North Indian states and hill states the turnover should be more than Rs 10 lakhs) should register themselves under the GST as a normal taxable person and this is known as the GST Registration.

 

Who Needs a GST Registration?

  • A casual taxable person or a non-resident taxable person
    • A business whose turnover is more than Rs 20 lakh per annum (Rs 10 lakhs for Uttarakhand, North Eastern States, Himachal Pradesh, Jammu & Kashmir)
    • Supplier’s agent & input service distributor
    • All the e-commerce aggregator
    • Individuals who supply using e-commerce aggregator
    • Individuals who pay tax under the reverse charge mechanism
    • Those who have registered under the pre-GST Law (VAT, Service Tax, excise and so on)
    • Individuals who supply online information and provide database access or retrieve services from abroad to an individual in India, other than a registered taxable person.

 

Documents Required for Online GST Registration

The online GST registration requires the following documents:

  • Proprietorship
    • PAN Card and address proof of proprietor
  • Limited Liability Partnership (LLP)
    • PAN Card of LLP
    • LLP Agreement
    • Partners’ names and address proof
  • Private Limited Company
    • Certificate of Incorporation
    • PAN Card of Company
    • Articles of Association, AOA
    • Memorandum of Association, MOA
    • Resolution signed by board members
    • Identity and address proof of directors

 

How to check GST Registration Status via online?

Once an individual or a business firm apply for GST registration, an Application Reference Number (ARN) will be generated. It is important to note down the ARN for further reference. Generally, it takes 15 days to process a GST registration application form, but one can check for the GST registration status through online on the GST web port by following the below-mentioned steps:

 

Step 1: Visit the GST web page

Step 2: Go to Services > Registration > click on the ‘Track Application Status’

Step 3: Now enter the ARN which was generated at the time of submitting the GST application form and enter the captcha code to proceed further and now click on ‘Search’

Step 4: The ARN will generate one of the following below mentioned statuses:

 

Provisional – It means that the application has not been filed yet but the provisional identity has been already issued.

Pending for Verification – This means that the application has been successfully submitted but the verification is yet to be done.

Validation against Error – This means that the PAN filled in the application form does not match with the details provided by the Income Tax Department. In this case, the form has to be resubmitted.

Migrated – This means that the application for migration to GST has been done successfully.

Cancelled – This means that the registration has been cancelled.

 

What is the penalty for not registering under the GST?

An individual is liable to pay a fine of 10% of the tax amount due subject to a minimum of Rs 10,000.

In case if an individual has deliberately evaded payment of tax then he will be penalized at 100% of the tax amount due.

 

What is aggregate turnover as per GST Law?

As per the GST Law under section 2(6) of the CGST/SGST Act, an Aggregate turnover includes the aggregate value of

– all exempt supplies

– all taxable supplies

– export of goods/services

– all inter-state supply of a person having the same PAN.

All the above mentioned will be calculated across the country and it excludes taxes charged under the CGST Act, SGST Act, UTGST Act, and the IGST Act.

The term aggregate turnover includes all supplies made by the taxable person, either on his own account or on behalf of all his principals.

The term Aggregate turnover does not include the value of supplies on which tax will be levied on reverse charge basis and value of inward supplies.

 

What is GSTIN?

GSTIN stands for the GST Identification number, which is assigned to every dealer who registers under the GST law.

GSTIN is a 15 digit number. The following is the break-up of the GSTIN:

  • The first two digits of GSTIN represents the state code, which is a unique one and this is taken from the Indian Census of 2011.
  • The following 10-digits will be the Permanent Account Number of the taxpayer.
  • The thirteen-digit is assigned based on the number of registration within a state.
  • The fourteenth will be the letter ‘Z’ by default.
  • The last one will be for check code, it can either be an alphabet or a number.

 

How can SattvaCFO help in GST Registration in India?

SattvaCFO has years of experience in GST registration. All you need to do is call us or email us (info@SattvaCFO.com) for hassle-free GST registration in India.