GST REGISTRATION

₹1499

All inclusive fees

GST REGISTRATION PROVISIONS

Every Supplier of Goods or services or both is required to obtain GST registration in the state or Union Territory from where he makes the taxable supply if his aggregate turnover exceeds specified threshold limit in a F.Yr.
Aggregate Turnover means value of all outward Supplies including taxable supplies, Exempt supplies, Exports, Inter-state supplies of persons having same PAN computed on all India basis.

The specified threshold limit is Rs.40 lakhs in case of goods and Rs. 20 lakhs in case of Services. However in special category states, the limit is further reduced to Rs.20 lakhs for goods and Rs. 10 lakhs for Services.
Also the following class of persons are required to register under GST irrespective of their turnovers. They are :

  • E-Commerce Platforms
  • Casual Taxable Person
  • Person making Inter-state Sales

Also a person can voluntary register for GST irrespective of his turnover.

Types of Registration:

Mainly there are two types of GST registrations :

Regular GST Registration

This is normal GST registration wherein a person is registered without any deposit and falls under normal category of person.

Composition Registration

Any Entity/person having a business turnover of less than Rs. 1.5 Cr. During a F.Yr. can enroll under this scheme wherein a flat rate of GST is required to be paid on sales. However he is not eligible to claim any input tax credit. A person has to exercise his option once before the start of Financial year to go into this scheme. However he can continue in that scheme until he opts out.

DOCUMENTS REQUIRED FOR GST ANNUAL RETURN FILING

  1. Financial Statement of Taxpayer for the relevant F. Yr.
  2. GSTR-3B & GSTR-1 details of the Taxpayer for the relevant F.Yr.
  3. Complete details of all GST related ledgers i.e. output GST, Input GST, Tax paid etc.
  4. GST Audit Report in case of GSTR-9C from a Chartered Accountant or Cost Accountant.