GST Registration

Features

Assistance with GST registration

Inr 1500/- (Excl Taxes)

Basic

Inr 50000/- (Excl Taxes)

Gst & Other Compliances

GST Registration

GST Registration Mandatory: Enterprises in India must register for GST if their revenue exceeds specified thresholds or falls into certain categories.
Assistance from Filing Champs: Filing Champs offers easy and simplified GST registration services.
Contact for Assistance: Contact our specialists to streamline the GST registration process.

Overview of Online GST Registration

Introduction to GST: The Goods and Services Tax (GST) was introduced in India on July 1, 2017, making it mandatory for various entities such as service providers, traders, manufacturers, and freelancers to register.
Tax Reformation: GST replaced several central and state-level taxes including service tax, excise duty, CST, entertainment tax, luxury tax, and VAT, aiming to simplify the tax system.
Composition Scheme: The GST framework offers a composition scheme for taxpayers with an annual turnover of less than $1.5 crore, allowing them to follow simplified processes and pay taxes at a predetermined rate based on turnover.
Supply Chain Impact: GST applies at multiple points in the supply chain, including sourcing raw materials, manufacturing, wholesale, retailing, and consumer sales. Each stage incurs GST, with revenue allocated based on consumption. For instance, if a product is manufactured in one state and consumed in another, the GST revenue goes to the consuming state, highlighting the consumption-based nature of GST.

Key Components of GST

The Goods and Services Tax (GST) in India is structured around three primary components:

Central Goods and Services Tax (CGST):
- Imposed by the Central Government.
- Applies to transactions within a single state.
State Goods and Services Tax (SGST):
- Levied by the State Government.
- Applicable to transactions within the state’s jurisdiction.
Integrated Goods and Services Tax (IGST):
- Imposed by the Central Government.
- Applied to transactions between states or between a state and a Union Territory.

Who is Required to Register for GST?

Business Entities: Those with an annual turnover exceeding Rs. 40 lakhs (Rs. 20 lakhs for special category states).
Service Providers: With combined turnover exceeding Rs. 20 lakhs (Rs. 10 lakhs for special category states).
Exemptions: These thresholds don’t apply to entities selling only GST-exempt goods/services.
Previously Registered: Entities under prior tax regimes must migrate and register under GST.
Inter-State Suppliers: Involved in cross-state supply of goods.
Casual Taxable Entities: Engaged in occasional taxable supply.
Reverse Charge Mechanism Entities: Required to pay tax under reverse charge.
Input Service Distributors & Agents: Distributors of input services and their agents.
E-Commerce Platforms: Operators of e-commerce platforms.
Non-Resident Taxable Entities: Engaging in taxable supply within India despite being non-resident.
Supplier’s Agents: Supplying on behalf of a principal supplier.
E-Commerce Suppliers: Offering goods/services through an e-commerce aggregator.
Online Service Providers: Providing online services from outside India to individuals in India, excluding those already GST-registered.

GST Registration Turnover Limit

Voluntary Registration: Any individual or entity can voluntarily register for GST, regardless of turnover.
Service Providers: Required to register if annual revenue exceeds Rs. 20 lakhs (Rs. 10 lakhs for special category states).
Goods Suppliers: Must register if annual turnover exceeds Rs. 40 lakhs, with exceptions for specific products and intra-state supplies in select states.
Criteria for Goods Suppliers:
- Should not provide services.
- Should not supply certain items like ice cream, pan masala, or tobacco.
Special Category States: Include Arunachal Pradesh, Assam, Jammu and Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh, and Uttarakhand.
Aggregate Turnover Calculation: Comprises taxable supplies, exempt supplies, exports, inter-state supplies minus taxes, inward supplies, goods taxable under reverse charge, and non-taxable supplies.
PAN-based Calculation: Total revenue must be calculated even if one person owns multiple businesses.

Advantages of GST Registration for Businesses

Legal Compliance: Ensures adherence to tax laws, avoiding penalties.
Input Tax Credit: Allows businesses to offset GST paid on purchases against GST charged on sales, reducing tax burden.
Inter-State Trade Ease: Facilitates hassle-free transactions across state borders.
Elimination of Cascading Effect: Reduces taxation on previously taxed amounts, lowering overall costs.
Competitive Edge: Builds trust with clients, leading to more business opportunities.
Access to Larger Markets: Preferred by major corporations for partnerships.
Optimised Cash Flow: Efficient tax management improves cash flow.
Enhanced Credit Rating: Maintains a positive compliance record, improving credit score.
Legal Safeguard: Protects business rights and interests.
Simplified Compliance: Streamlines the GST process for easy filing and payment online.
Transparent Operations: Encourages accurate record-keeping, fostering trust and professionalism.

GST Certificate

GST Certificate Overview:
- The GST Certificate is an official document issued by the Indian government to businesses registered under the Goods and Services Tax (GST) system.
- It contains essential details such as the GST identification number, business name, and official address.
Importance of GST Certificate:
- Authorization to Collect GST: Allows businesses to legally charge and collect GST from customers.
- Tax Credit Claims: Enables firms to claim GST credits for expenses incurred in procurement and operations.
Beyond Tax Purposes:
- Loan Applications: Often required as proof of authenticity when applying for financial assistance or loans.
- Government Tenders: Necessary for eligibility and participation in government tenders, demonstrating tax compliance.
- Market Reputation: Elevates a company’s market reputation by showcasing adherence to national tax regulations.

GSTIN

GSTIN Overview:
- GSTIN, or Goods and Services Tax Identification Number, is a distinct 15-character alphanumeric code.
- It is assigned to every taxpayer registered under India’s GST system.
Key Identifier:
- Acts as a primary identifier for both businesses and individuals involved in GST transactions and compliance.
Unique Identification:
- Each GSTIN is unique, ensuring accurate tracking and management of taxpayer records within the GST framework.

Voluntary GST Registration for Businesses

Voluntary GST Registration for Small Businesses:
- Businesses with a turnover below Rs. 20 lakh can choose to register for GST voluntarily.
Benefits of Voluntary Registration:
- Access to input tax rebates.
- Permission for unrestricted interstate sales.
- Eligibility to list on e-commerce platforms.
- Competitive advantage over non-GST registered enterprises.
Optional but Advantageous:
- While not mandatory, voluntary registration can lead to enhanced growth opportunities and potentially higher profits.

GST return filing

GST Return Filing Overview:
- It’s a formal procedure where taxpayers report their sales, purchases, and tax details to the government.
- Every GST-registered taxpayer in India must submit these returns regularly, regardless of whether any transactions took place.
Assistance Available:
- Our team of experts is available to guide you through the GST return filing process if needed.

Documents Required for GST Registration

Sole Proprietor / Individual:
- PAN card, Aadhar card, and photograph of the owner.
- Bank account details.
- Address proof.
LLP and Partnership Firms:
- PAN card of all partners, partnership deed, and photograph of partners.
- Aadhar card of authorized signatory.
- Proof of appointment of authorized signatory.
- Bank account details.
- Address proof of principal place of business.
HUF (Hindu Undivided Family):
- PAN card of HUF and Karta, and photograph of Karta.
- Bank account details.
- Address proof of principal place of business.
Company (Public and Private):
- PAN card, certificate of incorporation, and Memorandum/Articles of Association.
- PAN card and Aadhar card of authorized signatory.
- PAN card and address proof of all directors.
- Photograph of all directors and authorized signatory.
- Board resolution or proof of appointment of authorized signatory.
- Bank account details.
- Address proof of principal place of business.

Consequences of Not Securing GST Registration

Non-Payment or Underpayment: Failure to pay the due tax or underpayment results in a penalty of 10% of the outstanding tax amount, with a minimum penalty of Rs 10,000.
Intentional Tax Evasion: Knowingly evading taxes attracts a penalty equivalent to 100% of the evaded tax amount.

Get GST Registration quickly through Filing Champs

Quick GST Registration: Filing Champs ensures your GST registration within 7 working days.
Simple Process: Provide your contact details, and a GST specialist will assist you in understanding your business needs and gathering necessary documentation.
Online Procedure: Everything is done online, eliminating the need for physical visits.
Access to LEDGERS Platform: Upon registration, you’ll gain access to the LEDGERS Platform for convenient GST invoicing and return filing.

Professional Tax Registration

1. What is a GST certificate?

It's a document issued by the Indian government certifying a business's registration under the Goods and Services Tax system, serving as a unique ID for taxation.

2. Who needs it?

Any business registered for GST in India, whether online or offline.

3. Is it compulsory?

Yes, businesses must have a GST certificate to charge GST on their goods and services.

4. Minimum turnover for registration?

Rs. 40 lakhs annually for most states; lower for special category states.

5. Can unregistered persons collect GST?

No, only registered individuals or businesses can collect GST.

6. What is an E-way bill?

An electronic document for goods worth over Rs. 50,000 during transportation.

7. Benefits of E-way bill?

Facilitates faster movement of goods and reduces costs for suppliers.