GST Registration

GST Registration in Hyderabad: Here’s all you need to know

In this article, you will find all about the procedure to register GST in Hyderabad. GST registration in Hyderabad is mandatory for businesses that have an aggregate turnover that exceeds Rs. 40 lakhs and for hilly and northeastern states Rs. 20 lakhs.

What do you mean by GST registration in Hyderabad?

GST registration in Hyderabad is compulsory for businesses that supplies within the state or outside the state or country.

From July 1, 2017; GST is the only indirect tax that applies in the country.

A business that supplies taxable goods or services in Hyderabad, whose turnover exceeds Rs. 40 lakhs and Rs. 20 lakhs for North Eastern & Hilly states must have GST registration.

Why GST registration in Hyderabad mandatory?

GST registration in Hyderabad is mandatory because it helps in:

1. Opening business or current account
2. If a person has a GST certificate, they can apply for various tenders (be it state or government
3. After the business has a GST registration certificate, it will have to comply with the tax provisions.
4. The business can claim the ITC paid & can improve the profits.
5. The cascading effect is being eliminated by GST registration.
6. GST registration also regulates the unorganized sector.

Who is eligible for GST registration in Hyderabad?

• The businesses whose turnover exceeds Rs. 40 lakhs for taxable goods & Rs. 20 lakhs for taxable services & in the case of North eastern & hilly states if the turnover exceeds Rs. 20 lakhs.

Documents required for GST registration in Hyderabad

The list of documents required for the GST registration in Hyderabad are:

For Sole proprietorship

• Address & Id proof of the proprietor
• Address proof of the office of the proprietorship
• Bank account details
• DSC

For Partnership Firm or LLP

• Address & Id proof of all the directors
• Address proof of the office of the partnership or LLP firm
• PAN details of the applicant or the business
• Bank account details
• Partnership deed or LLP
• MoA, AoA

For Private Limited Company

• PAN details of the company
• Address & Id proof of all the directors
• Address proof of the office of the company
• Bank account details
• MoA, AoA & certificate of incorporation

Steps for GST registration in Hyderabad

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

The steps for GST registration in Hyderabad are:

Step 1: Go to the GST portal^[1].

Step 2: Under the ‘services tab’ on the homepage, click on new registration.

Step 3: The taxpayer is required to fill the details required. The details includes:

• name of your business
• state
• email
• PAN card, etc.

in Form GST REG – 01. Click on submit.

Step 4: After submitting, a TRN (Temporary Registration Number) will be generated.

Step 5: Then, log in with the TRN number on the portal, you will be redirected to the GST registration page.

Step 6: Fill the following requisite informationthat includes companyname, PAN details, Place of business& date of commencement of business

Step 7: Submit the details of the promoters or partners of the company.When it is a sole proprietorship firm, the details of the proprietor.

The details includes:

• Personal details
• Designation
• DIN (Direct Identification Number)
• PAN
• Aadhar number

Step 8: Then submit the details of the authorized person to file GST returns.

Step 9: Then add the address of the principal Place of business &additional places of business (if any), and the contact details, details of goods and services to be supplied and the nature of possession of premise.

Step 10: Upload all the required documents on the portal.

Step 11: Click on save & continue. You need to sign the application digitally, once it is submitted.

Step 12: Click on submit.

Step 13: You will receive ARN (Application Reference Number) via email or SMS, after the submission.

Step 14: After the verification of the documents, the GST registration certificate will be issued.

How to track application for GST registration in Hyderabad?

• Visit GST portal
• Click on track application status under the services tab.
• Enter the ARN number & the captcha code & click on search.
• A new page will appear with a status of GST registration, i.e.,
  • Provisional status
  • Pending or verification status
  • Validation against error
  • Cancelled status
  • Migrated status

What is the penalty for no GST registration in Hyderabad?

The penalty is imposed in case of:

• Non registration of GST for evasion of tax, then a penalty of 100% will be imposed on the due tax amount.
• Less payment by the taxpayer, then 10% penalty is levied in case of genuine error. However, minimum penalty to be levied is Rs. 10,000.

Conclusion

GST registration is a step towards a better & transparent society. Since 2017 July, it has become mandatory for the businesses who has exceeded a turnover set by the GST act to have a GST registration in Hyderabad.

Read our article: Online GST Registration in Chennai – An Overview