GST Registration Process and its pre-requisites
GST Registration Process
GST or Goods and Administration Tax is a goal based tax, exacted at the season of utilization of goods or administrations by a definitive buyer. GST is like VAT, wherein the yield tax is ascertained and from it, the input tax is deducted to touch base at net tax. One of the real points of interest of GST is that numerous duties of tax on great and administrations like deals tax, section tax, octroi, focal extract obligation, and so forth., would be clubbed under a single GST. With the GST all set to be taken off, we take a gander at the procedure for acquiring GST enlistment in India.
GST Registration Prerequisites
Any individual with a taxable supply turnover over Rs.25 lakhs would be required to enlist for GST in India. There is likewise a system accessible for deliberate GST enlistment to claim input tax credit. The term individual under GST law incorporates proprietorship, partnership firms, Hindu Unified Family, Organization, LLP, Society and whatever other legitimate substance.
Time Limit- GST enlistment must be acquired within 30 days of surpassing the Rs.25 lakh turnover limit. On account of those having existing administration tax or VAT enrollment, the procedure would be declared for moving the VAT or Administration Tax enlistment as a GST enrollment.
Registration Number of GST
It is normal that GST enrollment would be given based on PAN. Another real favorable position of GST usage is that the same registration number of GST can be utilised as a part of all states crosswise over India. Under the present VAT administration represented by the State Governments, a VAT merchant must get VAT enlistment in each of the State, bringing about extra cost and consistence customs.
Essential Documents for GST Registration
Below mentioned documents are required to get GST registration:
1. Private Limited Company Needs Following Documents
- Incorporation Certificate
- Memo of Articles
- Association of Articles
- PAN card of the Company
- Number of Directors
- Resolution of Board
- ID Proof of Directors
- Residence Proof of Directors
2. Limited Liability Partnership Needs Following Documents
- Incorporation Certificate
- Agreement of LLP
- PAN of the LLP
- List of Partners
- ID Proof of Partners
- Residence Proof of Partners
Following Documents Are Required For Proprietorship
- PAN of the Proprietor
- Residence Proof of the Proprietor
Online Registration For GST
GST registration procedure would be online through an entry kept up by the Central Government or State Government. The candidate would need to present an online application for GST registration utilizing Structure GST-1 alongside a subtle element of the great and administrations to be managed. Online instalLment for the registration expense would be made accessible and temporary GST registration number would be given on accommodation of use.
On accommodation of the application, the candidate would need to print a duplicate of the application, append the records specified above and messenger the same to the GST office. On confirmation of the application, last GST authentication would be issued by the concerned officer. GST registration procedure is relied upon to be a totally online process, like the administration tax registration process.