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GST Registration
The date of April 1, 2017 draws closer and businesses are eager to understand and follow the new regulations set up by the GST Council. But where do businesses get started? In this post, we will share a guide to GST Registration with essential information that you need to know:
Understand the Registration Requirement:
Any person with a taxable supply turnover of over Rs.25 lakhs is required to register for GST in India. There is also a mechanism available for voluntary GST registration to help claim input tax credit. The term 鈥減erson鈥?under GST law, who are required to pay it Cheap Alex Manninger Jersey , includes proprietorship, partnership firms, Hindu Undivided Family, Company Cheap Alberto Moreno Jersey , LLP, Society and any other legal entity. GST registration must be obtained within 30 days of exceeding the Rs.25 lakh turnover limit. In the case of individuals or entities with existing service tax or VAT registration, the procedure for migrating the VAT or Service Tax registration as a GST Filing Utility will be announced in due course.
Do you need a GST Registration Number?
It is expected that GST registration would be provided based on your PAN number. Another major advantage of GST implementation is that the same GST registration number can be used in all states across India. Under the current VAT regimen governed by the State Governments, a VAT dealer must obtain VAT registration in each of the State Cheap Adam Lallana Jersey , incurring additional cost and compliance formalities.
Documents Required for GST Registration:
The following documents would be required to obtain GST registration:
GST Registration鈥娾€斺€奅nrollment Plan of States
The following table has the information on when GST registration will begin and conclude, according to the state.
Online GST Registration Procedure:
Registrations for GST can be done online through a portal ( ) maintained by the Central Government or State Government. The applicant will have to submit an online application for GST registration using Form GST-1 along with detail of the good and services to be dealt. Online payment for the registration fee would be made available and temporary GST registration number would be provided on submission of application. On submission of the application, the applicant would have to print a copy of the application, attach the documents mentioned above and courier the same to the GST department. On verification of the application Cheap Adam Bogdan Jersey , final GST certificate will be issued by the concerned officer. GST registration procedure is expected to be a completely online process, similar to the service tax registration process.
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