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GST Registration - Company

Get your company registered under GST.

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Description

What is GST (Goods and Service Tax)?

GST is a destination based tax on the consumption of goods & services, levied by the government at all the stages from manufacturing to the final consumption of goods and services. Components of GST:

  1. CGST: Central Goods & Service Tax is the tax levied and governed by the Central government on Intra-state supply of both goods and services under the CGST Act. 

  2. SGST: State Goods & Service Tax is the tax levied and governed by the State government on Intra-state supply of both goods and services under the SGST Act.

Both CGST & SGST are levied combinely in the appropriate proportion on Intra-state supply of Goods & Services. 

  1. IGST: Integrated Goods & Service Tax is a tax levied by the government on the Inter-State supply of both goods & services.

 

Who needs to get registered under GST?

Any person who supplies goods or services is liable to get registered under GST. However, businesses who are supplying services and have all India turnover below Rs. 20 lakhs (Rs. 10 lakhs in case of special states) need not to register under GST. The limit for businesses dealing in Goods is Rs. 40 lakhs (Rs. 20 lakhs in case of special states).

In case any business touches the prescribed limit during the year, the said business is required to obtain GST registration within 30 days of achieving such turnover.

It also helps in claiming Input Tax Credit.

 

What is Output Tax/ Tax Liability/ GST Liability?

When a dealer who is registered under GST supplies any goods or services, he is required to collect tax on such supply from the customer. The amount collected is called output tax for the business. This tax amount is called output tax liability for the dealer as it is liable to be paid to the government.

 

What is Input Tax Credit?

Whenever any business pays GST on purchase of any goods or services to be used for resale or as inputs in the business. Such GST paid can be termed as Input tax and is eligible to reduce the Output tax liability of GST for the said business.

 

How to use Input tax credit from different components of GST?

 

What are the benefits of getting registered under GST?

  1. It will help you in keeping proper accounting records of taxes collected, paid or utilized by the business.

  2. It makes easy to claim Input Tax Credit paid on the purchases of goods and services.

  3. The supplier will be legally recognized, which makes ease in the operations of the business.

What is Covered
  • Compile and verify your documents which are required to be filed with the Government.

  • File application with the GST department for obtaining GST Number.

  • One time resubmission in case of any query is raised by the department.

What is not Covered
  • In case of any query, requirement, clarification, etc. is raised by the GST department for more than once the same is chargeable.

  • Liasioning with GST Department

  • This does not include any visit charges to any Government office. In case required the same will be chargeable separately.

  • The filing of an application is not a guarantee of allotment of the registration under GST. The GST department has all the rights to reject the application.

Information guide
  • Incorporation Certificate of the company

  • Copy of PAN of the Company

  • Passport Size Photograph of all the directors

  • Copy of PAN and Aadhar Card of all the directors

  • Email id and Mobile Numbers for all the directors

  • Email id and Mobile Number for GST Registration in case different from the Director's Email and Mobile number

  • Address proof of place of business

    • Owned Premises - Proof of Ownership, Utility Bill not older than 2 months

    • Rented Premises - Rent Agreement, NOC from the landlord, Utility Bill not older than 2 months

  • Board Resolution (we can prepare this for you once the above details are shared)

  • List of Goods or Services in which company is dealing (Top 5 items to decide HSN / SAC codes)

  • Cancelled cheque

FAQs

1. For GST registration, do I need to be physically present during the process?
No, there is no need to be physically present during the process, as it is a completely online process.

2. Is it compulsory for a supplier to get registered under GST?
If your turnover all over India crosses the threshold limit of Rs 20 lakhs/ Rs. 40 lakhs (as applicable) (Rs. 10 lakhs/ Rs. 20 lakhs in special states), then it is compulsory to get registered under GST. 

The turnover is calculated on the basis of PAN.

3. Which states are declared as special states?
The following states are categorised as special states under GST:

  • Arunachal Pradesh
  • Assam
  • Jammu & Kashmir
  • Manipur
  • Meghalaya
  • Mizoram
  • Nagaland
  • Sikkim
  • Tripura
  • Himachal Pradesh
  • Uttarakhand

4. What is the time required for GST registration?

If you have all the documents ready, the procedure will not take more than 2 - 3 days for filing the application. Once the application is filed, it usually takes upto  7 - 15 business days in getting approval from the GST department and the GSTIN..

5. What is GSTIN?
GSTIN number is a unique 15 digit identification number allotted to a GST supplier under the GST regime.

6. Can a person without GST registration collect tax and claim ITC on purchases?
No, without GST registration you are not allowed to collect GST as well as you cannot claim ITC from purchases made by you related to your business.

7. What is aggregate turnover in the GST law?
According to Section 2(6) of CGST Act, aggregate turnover means:

  • Value of all the taxable supplies
  • Value of exempted supplies
  • Value of exports of goods & services
  • Inter-state supply of both goods & services all over India having the same PAN.
Estimate Time to Complete

3 Days

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Fixed

1,499

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