Who is required to get the Gst Registration:
According to the GST Regime every business having turnover of Rs. 20 lakhs or more (For NE and hilli states Rs.10 lakhs) is required to get the GST registration.
The GST Council in its 32nd GST Counsil Meeting help on 10th January, 2019, on the demands of MSMEs increased the threshold for the GST Registration to help ease the burden of compliances on MSMEs.
Time Required for GST Registration
The GST Registration process usually takes 3 working Days.
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The threshold limit for GST Registration w.e.f 1st April, 2019 is Rs. 40 Lakhs or more (For NE and hilli states Rs.20 lakhs) for sale of Goods.Further there has not been any change in the threshold limit for the Service Providers.
The States have been given option to either opt for the new thresholds or continue with the old threshold. In the normal category states Kerala and Telanga have opted to continue with the older thresholds.
Further the GST registration procedure is very easy and simple as compared to the former VAT and Service Tax Registrations.
Moreover Goods and Service Tax Department has mandated the Gst Registration for certain businesses irrespetive of there turnover, violation of provisions of GST law will attract heavy penal provisions.
Following are the classes of assessees who are required to get themselves registered under the Goods and Service Tax Act.
- 1. Assessees who were registered in the Pre-GST regime i. e Sales Tax, Service Tax, Excise Etc.
- 2. Businesses having turnover more than the threshold limit of Rs. 20 lakhs mentioned in the GST law.
- 3. Casual Taxable Persons
- 4. Non Resident Taxable Persons
- 5. Supplier Agents
- 6. Input Service Distributors
- 7. Reverse Charge Mechanism Taxpayers
- 8. Persons supplying through E-Commerce means.
- 9. Persons carrying on E-Commerce Business.
- 10. Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person.
GST Registration Process
At Pooja Jagdish and Associates, we make it simple for you to get your business registered under Goods and Service Tax Act, Our experts are ready to help you out in this and serving you according to your need.
Documents Required for the purpose of registration under Goods and Service Tax Act
1. Pan of the applicant(Proprietor/Partnership firm/Company)
2. Registered Office Address Proof
3. Aadhaar Card of the Applicant/s
4. Business Registration Documents(COI/Partnership Deed)
5. Bank Account Statement.
6. Digital Signatures.