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Goods and Service Tax (GST)
The new GST regime mandates that all entities involved in buying or selling goods or providing services or both are required to register and obtain GSTIN. Registration is mandatory once the entity crosses a minimum threshold turnover limit as prescribed under GST or when an individual starts a new business that is expected to cross the prescribed turnover.
GST is the product of the biggest tax reform in India which has tremendously improved ease of doing business and increasing the taxpayer base in India by including millions of small businesses. Tax complexities would be reduced due to the abolishing and subsuming of multiple taxes into a single, simple system.
ComplianceIndia can help you obtain your GST registration quickly and hassle-free.
Advantages of GST Registration
Legally recognized as supplier of goods or services.
GST eliminates the cascading effect of tax
Higher threshold for registration
Composition scheme for small businesses
Simple and easy online procedure
The number of compliances is lesser
Defined treatment for E-commerce operators
Improved efficiency of logistics
Unorganized sector is regulated under GST
Eligible to avail various other benefits and privileges under GST Act.
Eligibility for GST Registration
The Businesses which falls into any of the following criteria has to obtain GST Registration
Turnover Based Registration
Any service provider who provides a service value of more than Rs. 20 Lakhs aggregate in a year is required to obtain GST registration. In the special category states i.e. North-Eastern States, Himachal Pradesh, J&K and Uttarakhand, this limit is Rs. 10 lakhs. Any entity engaged in the exclusive supply of goods whose aggregate turnover crosses Rs.40 lakhs is required to obtain GST registration.
An entity shall register for GST if they supply goods inter state, i.e., from one state to another irrespective of their aggregate turnover. Inter state service providers need to obtain GST registration only if their annual turnover exceeds Rs. 20 lakhs. (In special category states, this limit is Rs. 10 lakhs).
Any individual supplying goods or services through an e-commerce platform shall apply for GST registration. The individual shall register irrespective of the turnover. Hence, sellers on Flipkart, Amazon and other e-commerce platforms must obtain registration to commence activity.
Casual taxable persons
Any individual undertaking supply of goods, services seasonally or intermittently through a temporary stall or shop must apply for GST. The individual shall apply irrespective of the annual aggregate turnover. The validity of casual GST Registration is 90 days.
Any entity can obtain GST registration voluntarily. Earlier, any entity who obtained GST voluntarily could not surrender the registration for up to a year. However, after revisions, voluntary GST registration can be surrendered by the applicant at any time.
Types of GST registration
How we Work?
Documents required for GST Registration
Certified Copy of Certificate of Incorporation
Copy of PAN card of the Company
Board Resolution for GST Registration and Appointment Proof of Authorised signatory
Photo of all Directors in jpg format
Copy of Aadhar Card of all Directors
Mobile no and Email id of all Directors
Copy of Bank Statement of the Company
Copy of Cancelled cheque stating the Account number, IFS Code and Name of the Company.
Copy of Address Proof of Principal Place of Business. In case rented premises, then Rent Agreement and NOC from the owner.
Certified copy of Certificate of Registration
Copy of PAN Card of LLP
Photo of all Designated Partners in jpg format
Copy of Aadhar Card of all Designated Partners
Mobile no and Email id of all Designated Partners
Copy of Address Proof of Principal Place of Business. If rented, then Rent Agreement and NOC from the owner.
Copy of Bank Statement of the LLP
Cancelled cheque stating the Account number, IFS Code and Name of the LLP
Copy of Letter of Authorisation/ Appointment Proof of Authorised signatory
For Proprietorship/ Individuals
Copy of PAN Card
Copy of Aadhar Card
Copy of Photograph in jpg format
Mobile no. And Email Id of the Applicant
Copy of Address Proof of Principal Place of Business. If rented, then Rent Agreement and NOC from the owner.
Copy of Bank Statement of the Applicant
Copy of Cancelled cheque stating the Account number, IFS Code and Name of the applicant
Comparison with other related Services
|Parameters||GST Registration||Professional Tax Registration||MSME Registration||Importer Exporter Code||Shop & Establishments Registration|
|Applicable to||Businesses exceeding a prescribed threshold for turnover||Applicability defers based on State Act||All Micro, Small and Medium Enterprises||All importers and exporters||Applicability defers based on State Act|
|Regulatory body||State and Central Government||State Government||Central Government||Central Government||Municipal Corporation|
|GET STARTED||KNOW MORE||KNOW MORE||KNOW MORE||KNOW MORE|
Frequently Asked Questions
1. What is GST and GSTIN?
Goods and Services Tax (GST) is a all-in-one tax levied on manufacture, trade and services across India. From 1st July 2017 GST has replaced indirect taxes like VAT, Service Tax, Excise etc. Goods and Services Tax Identification Number (GSTIN) is a 15 digits number to be used to identify businesses registered under GST.
2. Does GST apply to my business?
Registration under GST are applicable if your annual turnover is more than 40 Lacs (20 lakhs for the North-Eastern States, J&K, Himachal Pradesh, and Uttarakhand)
3. Do I need to be physically present during process?
No, New GST Registration is a fully online process. As all Forms are filed electronically. You would need to send us scanned copies of all the required documents. You can GST registration status by visiting GST registration portal.
4. What is the need of GST?
It is a mandate issued by Govt. of India who basically try to save tax and keep oneself from the cascading effect of tax.
5. Is it necessary to pay GST?
Yes, it is mandatory to pay GST for all the tax payers who is registered under GST regime.
6. What is the full form of CGST, SGST, IGST?
The full form of CGST– Central Goods and Service Tax | SGST– State Goods and Service Tax | IGST– Integrated Goods and Service Tax
7. What is the difference between CGST, SGST and IGST?
CGST and IGST are levied by Central Govt. and SGST is levied by State Govt.
CGST and SGST are paid for Intra-State Supply and IGST is paid for inter-State supply.
8. What is the limit to be considered under the GST law?
The limit to be considered under GST law differs on the basis of different categories:-
– Manufacturing Sector: 40 lakhs
– Service sector: 20 lakhs
– In North Eastern states: 10 lakhs
9. What is the concept of an origin based tax on consumption?
Origin Based Tax or production tax is levied where services or products are produced
10. What is the concept of a destination based tax?
Destination based tax or consumption tax are levied where the services or the products are being consumed. In this kind of taxation, exports are considered together with nil tax amounts whereas imports are taxed on par with the production done in the domestic sphere.
11. What is the GST tax rate?
Goods and Services are categorized into five categories of tax slabs for collection of tax- 0%, 5%, 12%, 18% and 28%.
12. What are the penalties for not registering under GST?
– In case of delay in GST filing, the penalty of Rs. 200/- is charged per day. There is no late fee charged in IGST.
– When GST Return is not filed, then 10% of the due tax will be the penalty amount or Rs. 10000, whichever is earlier.
– When someone commits fraud, then there will be a penalty which is 100% of the due tax or Rs. 10000 – whichever is earlier.
13. What is Composition Scheme?
Composition Scheme is a easy process under the GST law for all the taxpayers who can avoid difficult formalities pay the GST at a fixed rate based on the turnover. The taxpayers, whose revenue is less than Rs. 1 crore, can opt for this scheme. But recently the CBIC announced the increase the threshold limit from Rs. 1 crore to Rs. 1.5 crores. In case of North eastern states and Himachal Pradesh, the limit is now Rs. 75 lakhs. The GST rate under the composition scheme is only 1 % of the annual turnover in case of the manufacturer or traders of products.
14. What is the time limit to register for GST?
A person liable for GST registration must apply for the GST within 30 days from the date he becomes liable for GST.
15. Is PAN mandatory for the registration of GST?
PAN is mandatory for general taxpayers and also the casual taxpayers entitled under GST.
16. Can a business operate across India with one GST number?
An entity operating in multiple states will have to register separately for each state from where supplies of goods or services take place.
17. What is the validity of GST certificate?
Once the GST Certificate is issued, the registration is valid until it is surrendered, cancelled or suspended. Only GST certificate issued to non-resident taxable person and casual taxable person have a limited validity period.
18. How long does it take to obtain GSTIN?
GSTIN is allotted within 24 hours after submitting GST application with all necessary documents.
19. How to get GST certificate?
GST certificate is provided in soft copy format by Govt. of India. After the allotment of GSTIN, GST certificate can be downloaded from the GST portal at anytime by the applicant.
20. What is ARN & TRN in GST registration?
ARN stands for Application Reference Number. It is a proof of successful submission of the application to GST servers. It is generated after TRN or Temporary Reference Number and uploading of required documents.
21. How to Choose HSN or SAC Code during GST Registration?
HSN or SAC code refers to Goods and Services code. At Compliance India, the GST expert helps you to choose the suitable HSN or SAC Code after getting the details about the business.
22. Do I need a commercial address for the registration?
If you are handling your business from your home, then you can register the residential address with the GST. It requires only the address proof such as electricity bill, NOC, sale deed or link agreement.
23. When Digital Signature is required for the GST Registration?
DSC is required in case of private limited company, LLP etc. In case of proprietorship firm or partnership firm, DSC is not required.
24. Do I need a bank account for the GST registration?
Yes you do need a personal saving account or current account. If you are starting a new business and have a personal saving account, then it can be provided and after the registration is done, you can apply for the new current account depending on the GST certificate.
25. What action required after the GST Registration?
After applying for the GST registration, each month you have to raise GST invoice for your customers or clients and charge proper GST amount to them. At the end of the month you have to pay the taxes online.
26. Is there any chance of rejection during GST registration?
If you don’t submit correct required documents during submission of registration, then the jurisdiction officer shall reject the application. You have to apply again along with proper documents.
27. What documents are required as a Place of Business proof?
We require the copy of electricity bill or NOC from the landlord in case of rented place. NOC format will be share by our company during registration process.
28. What is the AATO Scheme amendment in GST Return filing?
On the recommendations of the GST Council, a new scheme of Quarterly Returns with Monthly Payments (QRMP) will be introduced from 1st January 2021.
Under this scheme, taxpayers with upto Rs. 5 Crores Aggregate Annual Turnover (AATO) in the previous and the current financial year would be given an option to file their Return/Statement in Form GSTR-1 and Form GSTR-3B Quarterly with a simple payment challan for the first two months of the quarter.
29. How much time does it take to get GST registration with Compliance India?
ComplianceIndia can take your GST Registration certificate in 3-4 working days after submission of all required documents. The time taken for registration will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy registration, please ensure you have all the required documents prior to starting the registration process.