Udyogwardini |GST Registration

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GST Registration

GST Registration is the process of becoming a GST registered taxpayer. Once registered, a business receives a GSTIN (Goods and Services Tax Identification Number). A GST return is a form that a taxpayer (each GSTIN) must file with the tax authorities. This is used to calculate a taxpayer's net tax liability. The central government assigns taxpayers a 15-digit number upon registration. Registering under GST is as important as having an identity document for any citizen of the country. Non-registration may result in harsh penalties. If a person knowingly fails to register and is caught, the penalty could be up to 100% of the tax evaded. Any taxable firm or person should register for GST. Businesses registered for GST must file monthly, quarterly, or annual returns via the Government of India's GST portal. They must report their sales and purchases of goods and services, and also their income taxes.

GST Registration is the process of becoming a GST registered taxpayer. Once registered, a business receives a GSTIN (Goods and Services Tax Identification Number). A GST return is a form that a taxpayer (each GSTIN) must file with the tax authorities.

This is used to calculate a taxpayer's net tax liability. The central government assigns taxpayers a 15-digit number upon registration. Registering under GST is as important as having an identity document for any citizen of the country. Non-registration may result in harsh penalties. If a person knowingly fails to register and is caught, the penalty could be up to 100% of the tax evaded. Any taxable firm or person should register for GST. Businesses registered for GST must file monthly, quarterly, or annual returns via the Government of India's GST portal. They must report their sales and purchases of goods and services, and also their income taxes.

Who needs GST Registration?

  • If you sell products or services online.
  • It is required to register if you sell digital products like software and SASS.
  • If you sell through an e-commerce aggregator, you need to register.
  • If you supply goods and services within the country or export/import, you need to register for GST.
  • If you were previously registered for Service Tax, Excise Tax, or Value Added Tax, you should re-register.
  • If you live in India and occasionally supply goods or services.
  • If your business is based in the country but does not have a fixed location.
  • Register if your firm's revenue is over Rs. 40 lakhs. (The threshold for Northeastern states is Rs. 10 lakhs.)
  • There are four GST rates for services: 5%, 12%, 18% and 28%. Previously, taxes were 15%. Most services, however, are taxed at 18%.

Documents required

The following documents are required to register your business for GST purposes:

Documents required

The following documents are required to register your business for GST purposes:

The applicant's Permanent Account Number (PAN).

A photocopy of the Aadhaar card

Certificate of incorporation or proof of business registration

Promoters/directors must provide documentation of their identity and residence, as well as a photograph.

Statement of bank account/cancelled check

Letter of authorization/board decision appointing an authorized signatory

Digital Signature

Enquiry Form

Enquiry Form

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