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With the introduction of the GST regime, it has become mandatory for a business with a turnover of more than Rs 40 lakhs to register as a normal taxable entity. The process of registration is known as GST registration. The process of applying for unique GSTIN, i.e. GST Identification Number on GST portal registration is known as GST Registration. For certain businesses, it is mandatory to complete the GST registration process, and if the organization carries out its operations without GST registration, it is considered a criminal offence and hefty penalty shall be levied in case of non-registration. Generally, the process of GST registration takes around 2-6 days. Continue reading the blog; this shall serve you as an overall guide on GST Registration.
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The eligibility criterion for GST registration is mentioned below:
The documents require for GST registration ranges with the business type. Following is the list of documents required to complete the process of GST Registration of your business:
Documents required for Individuals and Sole Proprietors GST Registration
Documents required for Partnerships and LLP’s (Limited Liability Partnership) GST Registration
Documents required for Private Limited Company’s GST Registration
Documents required for Hindu Undivided Families (HUFs) GST Registration
GST Registration can be of various types and depends on the nature of the business.
Following are the various types of GST Registration:
Compulsory Registration: As per section 24 of CGST Act 2017, it is mandatory for certain categories of persons to register under GST even if their aggregate turnover is below the specified limit for GST registration. For example, it is mandatory for a person making any Inter-State taxable supply of goods to register under GST irrespective of the turnover limit. It is also mandatory for a casual taxable person to obtain compulsory registration regardless of the turnover limit.
Voluntary Registration: Under the GST regime, every business is eligible for voluntary registration irrespective of the threshold limit.
Register under Composition Scheme: Any taxpayer whose turnover is less than Rs 1.5 crore can opt for this scheme. In the case of North-Eastern states and Himachal Pradesh, the threshold limit to opt for this scheme is set at Rs 75 lakh. Registering under the Composition scheme has various benefits for a taxpayer such as lesser compliances (returns, maintaining books of record, issuing invoices etc), high liquidity, limited tax liability etc. However, it is to be noted that by registering under composition scheme the composition dealers cannot avail Input Tax Credit (ITC).
Read our article: Composition scheme under GST & Presumptive Taxation Scheme
GST Registration is not required for the following category of businesses:
To complete the process of GST Registration following steps are to be followed:
Enter the below- mentioned details:
Once you have uploaded all the documents, go to the Verification page and tick on the declaration. Then submit the application by using any of the following ways:
GST registration is a mandatory process for businesses whose annual aggregate turnover fall under the criteria mentioned above. If any organization or individual carries out the business without GST registration, it is considered a punishable offence and the defaulter shall be liable to pay hefty penalties. We at Enterslice, help you complete the process of GST Registration conveniently and without any hassle. Further, our team of experts will also help you with filing GST returns and all other compliances involved. For Guide on GST Registration, feel free to contact us at Enterslice.
Read our article:
Composition scheme under GST & Presumptive Taxation Scheme
A passionate legal content writer, a nature enthusiast, an avid reader, and a part-time thinker. By means of conducting in-depth research on industry related topics, Shubham often builds flawless and intelligible legal content for populace from all walks of life.
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