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GST REGISTRATION

GST Registration.

In the GST Regime, Mandatory registration of those businesses entity that has turnover exceeds Rs. 40 lakhs* (this limited only for the business entity who deals in goods) (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. And 20 lacs who are dealing in services. This process of registration is called GST registration.

For some businesses, registration under GST is mandatory. If some of the business entity running the business without registering under the GST Act, they are liable to an offense under GST and levy heavy penalties.

GST registration usually takes between 3 working days. Tax Metrica helps you to register your business under GST Act.
*Recently CBIC has notified the increase in threshold limit of GST Registration, of business entity turnover from Rs 20 lakhs to Rs 40 lakhs. The notification will be effective from 1st April 2019

Advantage of GST

  • GST remove the cascading effect of tax ( Levy tax on tax).
  • Higher threshold limit for registration( In VAT limit was 5/10 lacs but in GST 40/20/10 lacs.)
  • Composition scheme available for a small organization with a limit of 1.5Cr.
  • The simple and easy online process for GST registration and compliances.
  • Smooth compliances under GST for every type for organization
  • Coverage of all business. (earlier treatment of E-commerce operation was not defined).
  • Improved in logistic business.
  • An unorganized business is regulated in GST.

Dis-Advantage of GST

  • Compliance cost due to the implementation of GST (i.e purchased of  GST Software).
  • GST Complain (For Small Business same type of compliance for big business)
  • Enhance operational cost (Staff Training for GST implementation, etc).
  • GST Implement in the middle of the financial year.
  • GST Compliance in with modern approach less traditional approach.
  • Difficulties for SME.(Especially in the manufacturing industry for GST implementation.

Type of GST Registration

  1. For Taxpayer:-  In this categories person can take voluntary registration or Every ‘supplier’ shall be liable to be registered under the GST law in the State (or Union territory) from where he makes any taxable supply of goods or services or both if his
    aggregate turnover in a financial year exceeds the specified limit (Rs. 20 Lacs or Rs. 10 Lacs / Rs.40 lacs in case of persons dealing only in goods – refer Section 22 for details).
  2. For TDS Deductor:- A person who is liable to deducted Tds has to mandatory registration of TDS deductor under the GST Act, without any limit. There is no requirement for PAN. They can use their TAN issued under the Income-tax Act, 1961.
  3. For TCS Deductor ( E-Commerce):-  TCS has similar to TDS with distinctive features also. while TCS
    mean the tax which is collected by the e-commerce operator when a supplier supplies some goods or services
    through its portal and the payment for that supply is
    collected by the e-commerce operator.
  4. For GST Practitioner:- A GST practitioner or GSTP is a tax professional approved by the Central and State Governments to
    perform any or all of the following functions, on behalf of a taxable person. File an application for fresh registration. File an application for amendment or cancellation of registration, Furnish details of outward and inward supplies, Furnish monthly, quarterly, annual or final, GST returns, Make payments for credit into the electronic, cash ledger, i.e. payments for tax, interest, penalty, fees or any other amount, File a claim for refund, Appear as an authorized representative, before any officer of department, appellate, authority or appellate tribunal
  5. For Non-Resident Taxable Person:- “Non-resident taxable person” means any person who occasionally undertakes transactions involving the supply of goods or services or both, whether as principal or agent or in any other capacity, but who has no fixed place of business or residence in India. ( Other than OIDAR services).
  6. For United Nations Body/Other Notified Person/Embassy::- Ministry of External Affairs (MEA) issued a letter to the entity with a unique number with the date so that they can obtain registration from the GST portal. And this number called the UIN Unique identity number. UNB is not required to take registration state-wise on their hand other notified person has to take registration every state wise.
  7. For Non-Resident online service provider:-  Service provided by a person in India from abroad through the use of the internet. ( OIDAR Services).

Type of GST Returns

  • GSTR-1:- GST returns to be furnished for the reporting of all outward supply of goods and services, credit/debit note, and advance received and adjustment of advance details. This is a monthly return for those who have turnover is more than 1.5 Cr. in the previous financial year than reaming assessee has quarterly returns.
  • GSTR-2A:- This return containing details of all inwards supplies goods and services revised to from a registered supplier during the tax period. This data is auto-populated base on data filed by a supplier.
  • GSTR-2:-  it is the same as GSTR-2A, unlike GSTR-2 can be editable. This return is suspended since the GST Act applicable.
  • GSTR-3:-  This return is auto-populated of the GSTR-1 & GSTR-2 return filed. This return is suspended since the GST Act applicable.
  • GSTR-3B:- Due to GSTR3 & GSTR2 return is suspended since GST applicable, the supplier can file GSTR-3B monthly on a self-declaration basis to ascertain the tax liabilities and taxes paid.
  • GSTR-4/CMP-08:-  This return is filed by a supplier who opts composition scheme under GST. This scheme is opted by a supplier if their turnover up to 1.5 Cr. and pay taxes at a fixed rate prescribed by Govt. on declared turnover.
  • GSTR-5:- This return is filed by a non-resident taxable person, who has a business transaction in India. This return contains all details of outward supplies made, inward supplies received, credit/debit notes and tax liabilities, and taxes paid.
  • GSTR-6:- This return is filed by ISD. it will contain all detail of ITC received and the distribution of ITC by the Input Service Distributor (ISD).
  • GSTR-7:- This return is filed by a person who has required to deducted TDS under the GST Act.
  • GSTR-8:- This return is filed by an E-commerce operator

All about GST REGISTRATION

GST Registration.

In the GST Regime, businesses whose turnover exceeds Rs. 40 lakhs* ( this limited only for the person who deals in goods) (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. And 20 lacs who are dealing in services. This process of registration is called GST registration.

For some businesses, registration under GST is mandatory. If the organization running the business without registering under GST, they are liable to an offense under GST and levy heavy penalties.

GST registration usually takes between 3 working days. We’ll help you to register for GST in 3 easy steps.

 

*CBIC has notified the increase in threshold turnover from Rs 20 lakhs to Rs 40 lakhs. The notification will come into effect from 1st April 2019

 

Advantage of GST

  • GST removes the cascading effect of tax ( Levy tax on tax).
  • Higher threshold limit for registration( In VAT limit was 5/10 lacs but in GST 40/20/10 lacs.)
  • Composition scheme available for a small organization with a limit of 1.5Cr.
  • The simple and easy online process for GST registration and compliances.
  • Smooth compliances under GST for every type for organization
  • Coverage of all business. (earlier treatment of E-commerce operation was not defined).
  • Improved in logistic business.
  • An unorganized business is regulated in GST.

Dis-Advantage of GST

  • Compliance cost due to the implementation of GST (i.e purchased of  GST Software).
  • GST Complain (For Small Business same type of compliance for big business)
  • Enhance operational cost (Staff Training for GST implementation, etc).
  • GST Implement in the middle of the financial year.
  • GST Compliance in with modern approach less traditional approach.
  • Difficulties for SME. (Especially in the manufacturing industry for GST implementation.

Type of GST Registration

  1. For Taxpayer:-  In this categories person can take voluntary registration or Every ‘supplier’ shall be liable to be registered under the GST law in the State (or Union territory) from where he makes any taxable supply of goods or services or both if his
    aggregate turnover in a financial year exceeds the specified limit (Rs. 20 Lacs or Rs. 10 Lacs / Rs.40 lacs in case of persons dealing only in goods – refer Section 22 for details).
  2. For TDS Deductor:- A person who is liable to deducted Tds has to mandatory registration of TDS deductor under the GST Act, without any limit. There is no requirement of PAN. They can use their TAN issued under the Income-tax Act, 1961.
  3. For TCS Deductor ( E-Commerce):-  TCS has similar to TDS with distinctive features also. while TCS
    mean the tax which is collected by the e-commerce operator when a supplier supplies some goods or services
    through its portal and the payment for that supply is
    collected by the e-commerce operator.
  4. For GST Practitioner:- A GST practitioner or GSTP is a tax professional approved by the Central and State Governments to
    perform any or all of the following functions, on behalf of a taxable person. File an application for fresh registration. File an application for amendment or cancellation of registration, Furnish details of outward and inward supplies, Furnish monthly, quarterly, annual or final, GST returns, Make payments for credit into the electronic, cash ledger, i.e. payments for tax, interest, penalty, fees or any other amount, File a claim for refund, Appear as an authorized representative, before any officer of department, appellate, authority or appellate tribunal
  5. For Non-Resident Taxable Person:- “Non-resident taxable person” means any person who occasionally undertakes transactions involving the supply of goods or services or both, whether as principal or agent or in any other capacity, but who has no fixed place of business or residence in India. ( Other than OIDAR services).
  6. For United Nations, Body/Other Notified Person/Embassy::- Ministry of External Affairs (MEA) issued a letter to the entity with a unique number with the date so that they can obtain registration from the GST portal. And this number called the UIN Unique identity number. UNB is not required to take registration state-wise on their hand other notified person has to take registration every state wise.
  7. For Non-Resident online service provider:-  Service provided by a person in India from abroad through the use of the internet. ( OIDAR Services)

Type of GST Returns

  • GSTR-1:- GST returns to be furnished for the reporting of all outward supply of goods and services, credit/debit note, and advance received and adjustment of advance details. This is a monthly return for those who have turnover is more than 1.5 Cr. in the previous financial year than reaming assessee has quarterly returns.
  • GSTR-2A:- This return containing details of all inwards supplies goods and services revised from a registered supplier during the tax period. This data is auto-populated base on data filed by a supplier.
  • GSTR-2:-  it is the same as GSTR-2A, unlike GSTR-2 can be editable. This return is suspended since the GST Act applicable.
  • GSTR-3:-  This return is auto-populated of the GSTR-1 & GSTR-2 return filed. This return is suspended since the GST Act applicable.
  • GSTR-3B:- Due to GSTR3 & GSTR2 return is suspended since GST applicable, the supplier can file GSTR-3B monthly on a self-declaration basis to ascertain the tax liabilities and taxes paid.
  • GSTR-4/CMP-08:-  This return is filed by a supplier who opts composition scheme under GST. This scheme is opted by a supplier if their turnover up to 1.5 Cr. and pay taxes at a fixed rate prescribed by Govt. on declared turnover.
  • GSTR-5:- This return is filed by a non-resident taxable person, who has a business transaction in India. This return contains all details of outward supplies made, inward supplies received, credit/debit notes and tax liabilities, and taxes paid.
  • GSTR-6:- This return is filed by ISD. it will contain all detail of ITC received and the distribution of ITC by the Input Service Distributor (ISD).
  • GSTR-7:- This return is filed by a person who has required to deducted TDS under the GST Act.
  • GSTR-8:- This return is filed by an E-commerce operator

Basic

INR 1,500/-

One Time Fee

  • GST Registration
  • MSME Registration
  • Bank A/c.

Service Provide Within 7 Days

Standard

INR 11,999/-

One Time Fee

  • GST Registration
  • Shop & Establishment Registration
  • MSME Registration
  • Trade Mark Registration
  • Logo Design
  • Opening Bank A/c.

Service Provide Within 15 Days

Premium

INR 11,999/-

Yearly Fee

  • Yearly BASIC GST Compliances
  • Income Tax Return

Services Provided Before the Due Date

Frequently Asked Questions

every supplier who makes a taxable supply i.e. supply of goods and / or services which are leviable to tax under GST law, and his aggregate turn over in a financial year exceeds the threshold limit of twenty lakh rupees shall be liable to register himself  from where he makes the taxable supply.

(i) All taxable supplies,

(ii) All exempt supplies,

(iii) Exports of goods and/or service, and,

(iv) All inter-state supplies of a person having the same PAN

A person should take a Registration, within thirty days from the date on which he becomes liable to registration, in such manner  prescribed under the Registration Rules. A Casual Taxable person and a non-resident taxable person should however apply for registration at least 5 days prior to commencement of business

: Benefits of Registration under Goods and Service Tax (GST) regime will confer following business

  • Legally recognized as supplier of goods or services.
  • Proper accounting of taxes paid on the input goods or services which can be utilized for payment of GST due on supply of goods or services or both by the business.
  • Legally authorized to collect tax from his purchasers and pass on the credit of the taxes paid on the goods or services supplied to purchasers or recipients.
  • Getting eligible to avail various other benefits and privileges rendered under the GST laws.

Not any person without GST registration can neither collect GST from his customers nor can claim any input tax credit of GST paid by him

: Where the application for registration has been submitted within thirty days from the date on which the person becomes liable to registration, the effective date of registration shall be the date of his liability for registration.

Where an application for registration has been submitted by the applicant after thirty days from the date of his becoming liable to registration, the effective date of registration shall be the date of grant of registration.

In case of sue moto registration I.e. Taking registration voluntarily and cross the threshold limit for paying tax, the effective date of Registration shall be the date of order of the registration

Any person should take registration within 30 day from the date on which he become liable to registration

: As per Section 22 of the CGST/SGST Act 2017, every supplier (including his agent) who makes a taxable supply i.e. supply of goods and / or services which are leviable to tax under GST law, and his aggregate turn over in a financial year exceeds the threshold limit of twenty lakh rupees shall be liable to register himself in the State or the Union territory of Delhi or Punducherry from where he makes the taxable supply.

In case of eleven special category states (as mentioned in Art.279A(4)(g) of the constitution of India some special category state jamukasmeer, punducherry, meghalay ,Mizoram ,Manipur ,Tripura ,Sikkim ,Nagaland ,Arunachal Pradesh , uttarakhand , this threshold limit for registration liability is ten lakh rupees.

Besides, Section 24 of the Act mentions certain categories of suppliers, who shall be liable to take registration even if their aggregate turnover is below the said threshold limit of 20 lakh rupees.

On the other hand, as per Section 23 of the Act, an agriculturist in respect of supply of his agricultural produce; as also any person exclusively making supply of non-taxable or wholly exempted goods and/or services under GST law will not be liable for registration

Yes. In terms of the proviso to Sub-Section (2) of Section 25, a person having multiple place of businesses in a State or UT may obtain a separate registration for each such place of business, subject to such conditions as prescribed in the registration rules.

As per the CGST (Amendment) Act, 2018, the reference to requirement of separate business vertical for separate registration is not there now. The definition of “business vertical” has been omitted. However, the notification to bring the Act into effect is yet to be issued.

Yes. As per the second proviso to sub-section 1of section 25 of the CGST Act, inserted vide the CGST (Amendment) Act, 2018, a person having SEZ unit or being SEZ developer shall have to apply for a separate registration, as distinct from his place of business located outside the SEZ in the same State or Union territory. (This would be brought into force from the date law amendment is notified