GST Registration

All about Online GST Registration in Bangalore

GST registration in Bangalore is compulsory for businesses having an aggregate turnover of more than Rs. 40 lakhs and Rs. 20 lakhs for hilly and north-eastern states. In this article, you will find all about the procedure to register GST in Bangalore.

What is GST registration in Bangalore?       

GST registration in Bangalore is necessary for businesses dealing within or outside the state or even outside the country. GST is the only indirect tax applicable in the country from July 1, 2017.

A business carrying out a supply of taxable goods or services in Bangalore, making a turnover that exceeds Rs. 40 lakhs and Rs. 20 lakhs for special cases are required to have GST registration.

The process of GST registration is simple and easy and is available both online & offline.

Who needs the GST registration number in Bangalore?

•  Any supplier who is making an aggregate turnover of more than Rs. 20 lakhs in an FY by supplying taxable goods & services is required to obtain GST. However, an aggregate turnover is Rs. 10 lakhs for hilly & north-eastern states.
• The services are being provided outside the country.
• The goods are sold via e-commerce platforms.
• If a business possessed earlier registration under VAT, Service tax laws, etc.
• If the business is dealing in multiple states.

What are the documents required for GST registration in Bangalore?

Here is a list of documents required for different types of companies or firms.

Type of company or firm	Documents required
Sole proprietorship firm	·        ID proof of the proprietor ·        Address proof of the proprietor ·        Address proof of the office ·        Bank account details ·        DSC
Partnership or LLP	·        PAN details of the business or applicant ·        Aadhar card of all the directors ·        Address proof of the office ·        Bank account details ·        MoA , AoA & Incorporation Certificate ·        Partnership Deed or LLP certificate
Private limited company	·        PAN details of the business or applicant ·        Aadhar card of all the directors ·        Address proof of the office ·        Bank account details ·        MoA , AoA & Incorporation Certificate

Advantages of GST registration in Bangalore

The following are the benefits or advantages of GST registration in Bangalore:

1. GST registration certificate can be used to open a current account or a business account.
2. One can apply for various state or central government tenders if he has a GST certificate.
3. Once the business has the GST registration certificate, the business becomes 100% tax compliant.
4. ITC can be claimed that was paid on the purchases & improve profits.
5. GST registration eliminates the cascading tax effect.
6. GST registration helps in regulating the unorganized sector.

What are the different types of GST registration in Bangalore?

There are two types of GST registration:

• GST registration under composition scheme: The composition scheme is for the small businesses to ease the tax compliance. Under this scheme, the eligible taxpayers are allowed to pay a percentage of their year as revenue.
• GST registration as a casual taxable person:  A person who supplies goods and services that are taxable, needs to register himself under GST. For example, a person is in the consulting business and provides service; then he needs to register himself as a taxable person to comply with the tax provisions.

What are the steps for GST registration in Bangalore?

One can register GST through an online government portal or by visiting at nearest GST Seva Kendra.

The steps for GST registration in Bangalore are:

• Visit the GST portal^[1].
• Click on new registration under the ‘services tab’ on the homepage.
• Fill all the details (such as the name of your business, state, email, PAN card, etc.) of the taxpayer in Form GST REG – 01 and then click on submit.
• TRN (Temporary Registration Number) will be generated.
• Then, log in with the TRN number on the portal, you will be redirected to the GST registration page.
• Submit the following information:
  • Name of the company
  • PAN details
  • Name of the state where the business is registered
  • Date of commencement of business
  • Mention if any existing registration is also there.
• Submit the details of the promoters or partners of the company. In the case of a sole proprietorship firm, the details of the proprietor. The details must include:
  • Personal details
  • Designation
  • DIN (Direct Identification Number)
  • PAN
  • Aadhar number.
• Then submit the details of the authorized person to file GST returns.
• Then add the principal place of business along with any additional places of business, official address, email, contact details, nature of possession of premise & details of goods and services to be supplied.
• Upload all the required documents on the portal.
• Then click on save & continue. Once the application is submitted, you need to sign it digitally.
• Then click on submit.
• After the submission, you will receive ARN (Application Reference Number) via email or SMS.
• Then GST registration certificate will be issued upon the verification of the details and the documents.

What is the penalty for no GST registration in Bangalore?

A company that has not registered under GST is not paying taxes is liable to pay 10% of the due amount minimum of Rs. 10,000 as penalty.

A penalty of 100% of the tax amount is levied upon deliberately evading payment of taxes.

Conclusion

GSTIN is a unique number that is obtained by businesses carrying out the supply of taxable goods & services. It is important to have a GSTIN to become GST compliant and file GST returns.

The process of GST registration is available both online and offline, and it is a very simple process.

Read our article:How to Apply For GST Registration in Mumbai