Unlock the Power of GST Compliance: Your Trusted Partner for Seamless Registration & Returns Filing

Who needs to take GST registration?

Well, any business that wants to legally sell goods or services and avoid tax troubles

Got goods to sell? Services to offer? If your annual turnover is ₹ 40 lacs or more for goods, or ₹ 20 lacs or more for services, then you’re in luck – it’s time to get registered for GST!

(Otherwise, the taxman might come knocking on your door and ask for a “small” donation to the government. And trust me, you don’t want that kind of attention unless you want to become a government ATM!)

GST Registration Online - An Overview

Welcome to the exciting world of GST!

The Goods & Services Tax (GST) was launched on 1 July 2017 and applies to all Indian service providers, traders, and manufacturers, including freelancers. GST is a consolidation of various Central and state taxes like Service Tax, Excise Duty, CST, Entertainment Tax, Luxury Tax, Octroi, and VAT. Those with a turnover of less than ₹1.5 crore can choose a composition scheme and avoid complex GST formalities by paying at a fixed rate of turnover. GST is levied on all stages of the supply chain, from raw materials to the final sale to the consumer, regardless of the product’s origin and destination. So, if you’re selling tea from Darjeeling to someone in Kerala, the entire revenue will go to Kerala, not Darjeeling.

What Are the Components of GST?

The Goods and Services Tax (GST) has three main components: CGST, SGST, and IGST.

• CGST is the tax component levied by the central government, while SGST is a tax component levied by the state government. Both of these components are levied on all entities for all transactions within the state.

• On the other hand, the IGST component is levied by the centre when a transaction occurs between two states. So, whether you’re trading within a state or across state lines, GST has got you covered!

Mandatory Documents For Online GST Registration

To register for GST, businesses need to provide certain documents based on their entity type. Here are the document requirements for different business structures:

• For Proprietorship: PAN card and address proof of the proprietor.

• For LLP: PAN card of the LLP, LLP agreement, partners’ names, and address proof.

• For Private Limited Company: Certificate of Incorporation, PAN card of the company, Articles of Association (AOA), Memorandum of Association (MOA), resolution signed by board members, identity and address proof of directors, and a digital signature.

Don’t forget, double-checking the document requirements can save you from future headaches and stress!

The Following Can Be Shown as Proof of Address of a Director: 

• Passport

• Voter Identity Card

• Aadhar Card

• Ration Card

• Telephone or Electricity Bill

• Driving License

• Bank Account Statement

Add what works as identity proof, One can use a PAN Card, or Aadhar Card as identity proof. For address proof, any of the directors can show their voter ID, passport, telephone bill, electricity bill, and telephone

Who Needs a GST Registration Service?

• Are you a seller of goods or services?

• Do you make taxable supplies?

• Do you operate an e-commerce platform?

• Are you occasionally supplying goods or services in India as a non-resident?

• Are you involved in the inter-state supply of goods or services?

• Are you an input service distributor or a casual taxable person?

• Have you migrated from the old tax regime to GST?

If any of these apply to you, then you need to register for GST services with the prescribed threshold limit of ₹20 lakhs for most businesses.

What is a GST Certificate?

The GST Certificate is a must-have document that proves your business is officially registered under GST. It includes essential details such as your GST identification number, name, and address, and is required to charge and collect GST from your customers. This valuable document can also be used to avail input tax credits, apply for loans, and participate in tenders.

So ya, It’s like a superhero’s cape, except it doesn’t make you fly (unless you’re in the aviation industry, of course).

What is GSTIN?

GSTIN, or Goods and Services Tax Identification Number, is a unique identification number assigned to each registered GST taxpayer in India. It is a 15-digit alpha-numeric code that serves as a distinct identification for the taxpayer for all their tax-related activities. The GSTIN can be verified by visiting the GST portal and entering the corresponding GST number. Verification of GSTIN is an essential step to ensure that businesses comply with GST regulations and maintain accurate records of their transactions.

1. Benefit from Input Credit: Under the GST system, input credit allows taxpayers to deduct the tax already paid on inputs while paying tax on the final product or service. This enables businesses to reduce their tax liability and retain more of their profits. Voluntarily registered businesses can enhance their margins and profitability through this mechanism.

2. Expand Inter-State Selling: Small and Medium Enterprises (SMEs) can unlock new growth opportunities by engaging in inter-state selling without facing any restrictions. This allows them to tap into a broader customer base and explore online platforms, expanding their business horizons.

3. Tap into E-commerce Platforms: Registering on e-commerce websites offers SMEs the chance to expand their market presence significantly. By leveraging these platforms, they can reach a wider audience and connect with potential customers who prefer online shopping, giving them a competitive edge over other businesses.

4. Gain a Competitive Advantage: Embracing the benefits of input credit, inter-state selling, and e-commerce registration provides SMEs with a distinct competitive advantage. They can optimize their operations, increase profitability, and enjoy greater market visibility, positioning themselves ahead of their competitors.

What is the GSTN (Goods and Service Tax Network)?

The Goods and Service Tax Network (GSTN) is a non-governmental, non-profit, and privately-held company that operates as a one-stop-shop for all indirect tax-related needs. As a leading platform, the GSTN is tasked with maintaining and facilitating the Indirect Taxation platform for GST. This includes supporting businesses in the preparation, filing, rectification, and payment of their indirect tax liabilities. With its comprehensive services and resources, the GSTN serves as a valuable partner for businesses looking to navigate the complex world of indirect taxation.

Voluntary Registration Under GST (for Companies With A Turnover Below ₹20 Lakhs)

• Take input credit: In GST, there is a flow of input credit right from manufacturers of the goods to the consumers across the country. Input credit means a taxpayer while paying tax on output, can deduct the tax that has already been paid on inputs and pay only the remaining amount. Voluntarily registered businesses can increase their margins and profits through this

• Do inter-state selling with no restrictions: SMEs can increase the scope of their businesses and find prospective customers and explore online platforms

• Register on e-commerce websites: SMEs can widen their market by registering through e-commerce sites

• Have a competitive advantage compared to other businesses.

Small businesses with turnover less than ₹20 lakh can choose to register for GST voluntarily. Voluntary GST registration comes with various advantages including the ability to take input credit, do inter-state selling without restrictions, register on e-commerce websites, and gain a competitive edge over other businesses. This can ultimately increase the margins and profits of voluntarily registered businesses.

Benefit from Input Credit: Under the GST system, input credit allows taxpayers to deduct the tax already paid on inputs while paying tax on the final product or service. This enables businesses to reduce their tax liability and retain more of their profits. Voluntarily registered businesses can enhance their margins and profitability through this mechanism.

Expand Inter-State Selling: Small and Medium Enterprises (SMEs) can unlock new growth opportunities by engaging in inter-state selling without facing any restrictions. This allows them to tap into a broader customer base and explore online platforms, ex

Tap into E-commerce Platforms: Registering on e-commerce websites offers SMEs the chance to expand their market presence significantly. By leveraging these platforms, they can reach a wider audience and connect with potential customers who prefer online shopping, giving them a competitive edge over other businesses.

Gain a Competitive Advantage: Embracing the benefits of input credit, inter-state selling, and e-commerce registration provides SMEs with a distinct competitive advantage. They can optimize their operations, increase profitability, and enjoy greater market visibility, positioning themselves ahead of their competitors.

GST Return Filing

GST return filing is an indispensable process where registered taxpayers submit the details of their sales, purchases, and taxes paid to the government. It is compulsory for all GST-registered taxpayers in India, regardless of their sales or purchases during the filing period.

• Output GST (On sales)

• Sales

• Input tax credit (GST paid on purchases)

• Purchases

For filing a GST Return, you need to have GST-compliant sales and purchase invoices attached.