The Goods and Service Tax is the biggest indirect tax reform which blends in all the other taxes into one single tax structure. Under GST Regime, the goods and services are now taxed under a single law being Goods and Service Tax Laws. The taxes are levied at a single rate. The collection is then bifurcated between both Central and State Government in name of CGST and SGST or IGST.
Threshold Limit for Registration
The registration under GST is mandatory for the business entities based on the criteria of turnover or activities. The business dealing in goods and those providing service have to mandatorily apply for GST Registration if their aggregate turnover for a financial year exceeds Rs.40 Lakhs and Rs.20 Lakhs respectively. However, for business making supplies and providing services in the North Eastern States, the same is Rs. 20 lakhs and Rs. 10 lakhs respectively. Owing to its benefits, many dealers also obtain voluntary registration under GST.
The GST registration in India is completely an online process. GST Registration affirms seamless flow of Input Tax Credit in addition to providing recognition as a registered supplier.
Advantages of GST Registration:
- Input tax credit and lower cost
- Easy compliance requirements
- Legally recognised as supplier
- Simplified and permanent registration
We at Wise Tax Filings make it easy and inexpensive to register your GST. With expert support along with timely and accurate filings, we have made it hassle free for you to get started.
Documents Required for GST Registration:
Digital Signature
DSC of Partners or Directors, in case of LLP and Company only
Photograph
Copy of passport size photograph of the Proprietor/ Partners /Directors
Entity’s PAN Card
A copy of PAN Card of business entity
PAN & Aadhar Card
A copy of Aadhar Card of Proprietor/ Partners/ Directors
Business Address Proof
Latest Electricity bill/ Any Tax paid bill/ Municipal Khata Copy
Rent Agreement
If place is rented, rent agreement is mandatory, else consent letter is sufficient
Bank details
Latest Bank Statement/ Copy of cancelled cheque/ copy of first page of passbook
Certificate of Registration
Entity should provide registration certificate with MoA- AoA / LLP Agreement or Partnership Deed as applicable
GSTIN Structure:
These digits represent the State Code
First 2 Digits
These digits are the PAN of the concerned business entity
Next 10 Digits
It is number of registration within a State
13th Digit
It is alphabet Z for all registrants
14th Digit
Alphabetic check digit generated automatically
15th Digit
Apply for GST in 3 easy steps:
1. Answer quick questions
Pick a package that best fits your requirements. It takes less than 5 minutes to fill our questionnaire. Provide basic details & documents required for registration along with making payment.
2. Experts will be there to help
A relationship manager will be assigned to assist you for reconciliation of the information.
3. Your GST is registered.
It only takes 4-6 working days!
Day 1
- Consultancy for requirement of GST Registration
- Collection of basic Information & documents
- Preparation of required documents
- Share documents for Applicant’s Signature, if required
Day 2 – 3
- Preparation of online application
- Filing of registration application
Day 4 onwards
- Government processing time
- GST Registration Certificate*
Frequently Asked Questions:
At which place, should I obtain registration for GST?
The supplier of Goods and Services is required to apply for GST registration in the state from where the taxable goods or services are supplied, mentioning the place(s) of business. When the places of Business are situated in more than one state, application of GST shall be made from more than one place.
What is the proof of registration under GST?
Once the application is made for registration under Goods & Service Tax Act, the competent officer shall verify the application submitted and on his/her satisfaction, the officer issues the Certificate of Registration under GST in soft copy. The Certificate issued also mentions the GSTIN allotted to the applicant.
What are taxable events under the GST Act?
The event of supply of Goods and/or Services i.e. transactions such as the sale, transfer, barter, exchange, license, rental, lease or disposal made, or agreed to be made for a consideration of taxable goods or services, is to be considered a taxable event under the GST Act.
More Questions? Our Experts are here to help, fill out the form on this page or
Call us at: 1800 123 0000 or Email us: hello@wisetaxfilings.com