GST Registration Online
Apply for GST Registration Online in India with Kanakkupillai! As per GST legal process, any business operation or any entity with an annual turnover exceeding Rs 40 lakhs must undergo the GST process/procedure in India as a separate taxable provision.
As per GST jurisdiction, any business operations whose annual turnover exceeds Rs 40 lakhs must register as a separate taxable provision. This procedure is called GST registration. It takes around 2-6 working days to obtain GST registration online in India.
Overview of Online GST Registration in India
The Goods and Services Tax, also known as the GST, is a tax that is levied on all products and services that are purchased in India. Taxation, value-added tax, and services tax are some of the indirect taxes that have been replaced in India by the goods and services tax (GST), which is also an indirect tax. According to the Goods and Service Tax Act, which was approved by the Indian Government on March 29, 2017, the Goods And Service Tax (GST) has been in effect since July 1, 2017. As per GST jurisdiction, if you are doing any business without GST registration, it is considered an offense.
GST Registration Online in India or Goods and Service Tax - One Nation One Tax
Being the biggest tax reform in India, GST is levied on goods and services which includes both the Central taxes (CST, Service Tax, Excise Duty) and State taxes (VAT, Entertainment Tax, Luxury Tax, Octroi). This will help the consumer to bear only GST which is charged by the last dealer in the chain of trade and supply.
As per GST Regime, any business operation whose annual turnover is exceeding more than Rs.40 lakh is needed to register as a normal taxable individual. However, there is an exclusion for hill states and North East, the annual turnover is exceeding more than Rs.20 Lakh for them.
Obtaining GST Registration in India is mandatory for all types of businesses whose turnover comes under the above-mentioned criteria. If a business entity carries out any business activities without GST registration, it will be conceived as a punishable offense and the business and its owner will be liable to pay heavy penalties and legal issues.
Types of GST Registration in India
There are different GST registration types, including regular, casual, non-resident, and eCommerce operators. Regardless of the turnover threshold, casual taxpayers, non-resident taxpayers, and eCommerce owners must register for GST.
(1) Casual Taxable Person: A casual taxable person is someone who occasionally provides products or services in a State or a Union territory where the entity does not have a permanent place of business, according to the GST Act. As a result, individuals operating transient businesses at fairs or exhibitions or seasonal enterprises would be considered casual taxable people under the GST.
(2) Non-Resident Taxable Persons: Under the GST, a non-resident taxable person (NRI) is any individual, company, or organization that provides goods or services but does not have a permanent home or place of business in India. As a result, any foreign individual, company, or organization providing products or services to India would be considered a non-resident taxable person and would need to abide by all GST laws in India.
(3) E-Commerce Operators: Anyone who owns, runs, or oversees a digital or electronic facility or platform for electronic trade is considered an e-commerce operator. Therefore, regardless of company revenue, anyone who sells online can be considered an eCommerce Operator and is therefore required to register for GST.
What is a GST Return?
A GST Return is a legal document that must be submitted to the tax authorities with information regarding revenue. A taxpayer is required by the GST legislation to submit two monthly returns and an Annual GST Return. All tax returns must be submitted online. Kindly be aware that there is no option to change the returns. Invoices for the current month shall include all bills for the prior unreported tax period.
A registered dealer is required to file GST returns under the Gst act that details purchases, sales, output, GST (On Sales), and input tax credit (GST paid on purchases).
What is GSTIN?
Entities with a GST registration number are given a GSTIN, or Goods and Services Tax Identity Number (GSTIN). GSTIN has a length of 15 letters. Based on the applicant's PAN and Province, a GSTIN is assigned. The State Code is represented by the first two numbers of a GST registration number. The applicant's PAN is represented by the next 10 numbers.
Who is Eligible for Online GST Registration in India?
The person who is registered under Pre-GST law such as Excise, VAT, Service Tax Businesses that hold turnover exceeding more than Rs. 40 Lakh and Rs. 20 Lakh for the North Eastern States, Himachal Pradesh, Jammu and Kashmir, and Uttarakhand. Non-Resident Taxable person and Taxable person Input Service Distributor and Agents of Supplier Individuals who are paying taxes as per the Reverse Charge Mechanism. Individuals who supply via e-commerce aggregator Individual supplying online database and information access from a location which is outside India to an individual in India.
Documents Required for Online GST Registration
The documents needed for GST Registration in India differ depending on the type of business. Below is the list of documents needed:
Address proof of the proprietor
- Id Proof that includes PAN Card or Aadhar Card
- Address proof of the proprietor
LLP Or Limited Liability Partnership
- 1. PAN Card
- 2. LLP Agreement
- 3. Name and Address Proof of the partner
For Private Limited Company
- Certificate of company Incorporation
- Pan Card
- Article of Association (AOA)
- Memorandum of Association (MOA)
- Identity and Address proof of the Director of the company
- Digital Signature Certificate
For Address Proof Of Directorship
- Passport of the applicant
- Voter ID Card and Aadhar Card
- Telephone or electricity Bill
- Ration Card and the Driving license
- Latest Bank Account Statement
Penalty for not Registering under GST
The penalty is imposed if any business entity is not filed.
- Due To Genuine Errors Any business person who does not register under GST will be levied to pay a penalty of a minimum amount of Rs. 10,000 or 10% of the tax amount whichever is higher.
- If Happened Intentionally If the offender is deliberately avoiding making up the tax, the penalty will be implemented on the person and it is about 100% of the tax amount.
What Are the GST Tax Rates?
In India, a value-added tax known as the Goods And Services Tax (GST) is imposed on the supply of products and services. The following are India's GST Tax Rates:
0% - This rate is valid for basic supplies like food grains, fresh veggies, and medical equipment.
5% - Food that has been processed or packaged, as well as some domestic goods, are subject to a 5% tax.
12% – This rate is applied to products like television sets, laptops, and cell phones.
18% - Items like air conditioners, freezers, and washing machines are subject to this rate of 18%.
28% - This rate is applied to products like upscale automobiles, tobacco, and aerated beverages.
Check out our GST calculator, which can be used to estimate the Goods and Service Tax based on various rates.
Benefits of GST Registration
Bank Loans: GST registration and GST return filing show company activity and track record. GST return data inform the bank and NBFC lending to companies. Thus, GST registration can formalize and credit your company.
Supplier Onboarding: Reputable firms often require GST registration Online for supplier onboarding. GST registration can increase the company.
ECommerce: GST registration is required to sell online on Amazon, Flipkart, Snapdeal, Zomato, Swiggy, etc.
Input Tax Credit: GST-registered businesses can receive GST from customers and offset it against GST paid on purchases. Thus, GST registration reduces fees and boosts margins.
Why Filingone for GST registration online?
1. Expert Assistance: Filingone has a team of experts who can provide guidance and support throughout the GST registration process.
2. Convenience: By using their online platform, businesses can complete the entire GST registration process from the comfort of their own office or home.
3. Time-Saving:: Filingone online registration process is quick and efficient, helping businesses save time and avoid the complexities of the traditional registration process.
4. Affordable: filingone offers competitive pricing for its services, making it an affordable option for businesses of all sizes.
Related Guide
Is GST Registration Mandatory for a Company?
Advantages and Disadvantages of GST
New GST Registration Threshold Limit for Services
