Online GST Registration Process
What is GST?
The GST, GOODS & SERVICE TAX, is an indirect tax, government use to take. In the year 2017, it came into existence, when the government of India decided to remove all the other central and state wise tax the people of India use to pay and replace it by only one tax i.e. GST, this new idea was applied by JULY 2017. So, it automatically and technically becomes the biggest tax on GOODS and SERVICES.
If you have a business which has the turnover of around 20 Lakhs or above, then it is necessary to register as a normal taxable person whereas for the hill states the amount is of 10 Lakhs. Those businesses that have the business of supply of goods across the states, it is compulsory for them to do Online GST Registration.
GST is a tax which is collected by the state where the goods are consumed and services are used. The GST accordingly is divided into four parts depending on the destination.
- SGST – It is State GST that is collected by the State government.
- CGST- it is Central GST that is collected by the Central Government.
- IGST- Integrated GST that is also collected by the Central Government.
- UTGST- Union Territory GST that is collected by the Union Territory Government.
The Arrival of GST in India
In the budget session year, as the part of the Money Bill, the Central Government passed four sets of the GST Acts, those where, Central GST Act, 2017; Integrated GST Act, 2017; Union Territory GST Act, 2017 and the GST Compensation to the States Act, 2017, in the parliament, which it approved. The council of GST decided the amount of tax which would come under the GST regime for all the GOODS & SERVICES.
Why Online GST Registration is Mandatory?
Though the GST Registration is important to do for all, but for certain business as told above, the Online GST Registration is compulsory, if they do not do so, then it would be counted as an offense under the GST with the weighted penalty.
Our TradenFill team will help you to register for GST, online, in an easy way.
Who should go for the GST Registration?
- Those, who are registered under the Pre-GST law like Service Tax, Value Added Tax etc.
- Those individuals, paying tax under the reverse charge mechanism.
- Those Businesses who have the turnover of around 20Lakhs and above and for the hill states it is 10Lakh like Uttrakhand, J&K, and Himachal Pradesh.
- Every e-commerce aggregator and the individual who supplies through the e-commerce aggregator.
- Resident and Non-resident Taxable individual.
- The individual, other than a registered taxable person, who is supplying the information online and database access from one place to the other place that is outside India.
- Retails or Distributor and wholesaler.
What is the Online GST Registration Process?
At Tradenfill, we will help you to get your business registered and obtain your GSTIN. Here, our Tradenfill GST experts will guide you on each step.
What is the Penalty for not registering under GST?
The individual who does not register his/her business under GST law would be liable for the fine. The penalty would be 10% of the due tax amount and if the person still evades paying the tax with fine deliberately them the penalty would be 100%.
Documents Required for the GST Registration
- Pan Card
- Pan Cards Of All Persons (In Case Of Company)
- Aadhar Card/Voter Id/Passport (Any One) Of All Persons
- Passport Size Photo Of All Persons
- Business Proof – Ownership Proof/Rent Agreement/Landlord Noc/Electricity Bill/Municipal Tax Receipt (Any One)
- Existing Business Registration Certificate (If Any)
- Board Resolution Or Letter Of Authorisation (In Company Case)
- Bank Passbook/Bank Statement/Cancelled Cheque (Any One)
- Digital Signature Of Authorised Person:
- Business Name
- Mobile No. & Email Id
- List Of Items/Services
- Time Period 2-3 Working Days
- FEE 1499/- (ALL INCLUSIVE)