GST Registration
Who all need GST Registration?
The registration in GST is PAN based and State specific. Supplier has to register in each such
State or Union territory from where he effects supply if he fulfills any of the following conditions:
- Having an annual aggregate turnover from all-India operations which is above the threshold limit of Rs. 20 Lakhs (Rs. 10 Lakhs for North-Eastern States).
- Having branches in multiple states or multiple business verticals in one state.
- aking any supply to other states.
- Required to pay tax under Reverse Charge (In case your supplier is not registered under GST).
- Required to deduct tax at source or an Input Service Distributor.
- Agents of a supplier.
- Supplying goods or services through E-commerce Operator.
- E-commerce Operator / Aggregator who supplies goods or services under his brand name (e.g. Flipkart, Amazon, Ola).
- Supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person.
Benefits of Registration under GST
GST Registration will give the following advantages to a taxpayer.
- He is authorized to collect taxes from his customers and pass on the credit of the taxes paid to them.
- He can claim Input Tax Credit of taxes paid to his suppliers and can utilize the same for payment of taxes due
- Seamless flow of Input Tax Credit from suppliers to recipients at the national level.
GST Registration Process (on Government Portal)
GST Registration will give the following advantages to a taxpayer.
- Go to the Government GST Portal and look for Registration Tab.
- Fill PAN, Mobile No., E-mail ID and State in Part-A of Form GST REG-01 of GST Registration.
- You will receive a temporary reference number on your Mobile and via E-mail after OTP verification.
- You will then need to fill Part-B of Form GST REG-01 duly signed (by DSC or EVC) and upload the required documents specified according to the business type.
- An acknowledgment will be generated in Form GST REG-02.
- In case of any information sought from you and intimated to you in Form GST REG-03, you may need to visit the department and clarify or produce the documents within 7 working days in Form GST REG-04.
- The office may also reject your application if they find any errors. You will be informed about this in Form GST REG-05.
- inally, a certificate of registration in Finally, a certificate of registration will be issued to you by the department after verification and approval in Form GST REG-06.
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GST Registration
What is GST?
GST is a tax which is payable on service provided by the service provider. This Tax is payable by the provider of service to the Govt Of India.
Who Should Apply for GST registration ?
As per the Rules framed by the Indian Govt., every Service Provider has to mandatorily apply for GST Registration if the Value of Services expected to be rendered by him in a financial year is more than Rs. 9 Lakhs. How ever the GST would be payable only when the value of services provided by him during the Financial Year is more then 10 Lakh. – the GST Registration is optional at the option of the GST Payer.
What is the procedure for registration?
- The assessee shall make an application in form ST 1 to the Superintendent of Central Excise in duplicate.
- The application shall be filed within 30 days from the date of providing taxable service and shall bear the address sought to be registered.
- The application should be filled up carefully without errors and columns and boxes which are not applicable may contain “NA†stated across them. All the taxable services provided should be mentioned on the application and there would not be separate applications for each of such taxable services.
- The Form should be signed by the director/partner/sole proprietor as the case may be or the authorized signatory.
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The application shall be accompanied by copies of the following documents:-
- Self certified copy of PAN, (where allotment is pending, copy of the application for PAN may be given)
- Copy of MOA/AOA in case of Companies
- Copy of Board Resolution in case of Companies
- Copy of Lease deed/Rental agreement of the premises
- A brief technical write up on the services provided
- Registration certificate of Partnership firm
- Copy of a valid Power of Attorney where the owner/MD/Managing Partner does not file the application
- Once filed, the acknowledgement for having filed the application is to be obtained on the duplicate copy for one's own reference.
- If the Particulars stated in the Form are correct, then the registration certificate would be provided within a period of seven days. Where not so provided, the registration is deemed to have been granted.
How is centralized registration different?
Centralized registration is opted for in a case where the accounting and billing operations of the assessee are centralized in an administrative office which may be a branch or Head Office despite the services being provided from more than one location. The premises that is registered here is the one where the centralized accounting and billing is done. This decision is at the option of the tax payer and he can also opt to have
- The registration in case of centralized registration would be granted by the Commissioner of Central Excise having jurisdiction over the centralized premises
- The registration formality at the department's end takes a little longer than the period stated above and the concept of deemed registration need not apply here
Current GST Rate is 14% + 0.50 % Swach Bharat Cess + 0.50% Krishi Kalyan Cess so the Effective Rate is 15%
If a service provider total value of Taxable services provided during a Financial Year exceeds 10 Lakhs then he has to charge 15 % GST from the recipient of the service.
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