GST Registration Online - Fees, Documents, Process
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GST Registration
Welcome to Avery Biz Solutions, your trusted partner for hassle-free GST registration services in India.
GST Registration in India is essential for businesses to comply with tax regulations. By registering online and obtaining a unique GSTIN, companies can collect and remit GST, claim input tax credits, and enhance their market credibility.
In this GST Registration Online, we’ll walk you through everything you need to know about GST registration, its components, benefits, eligibility criteria, procedural details, penalties for non-compliance, and much more.
GST Registration In India
GST registration in India is a mandatory requirement for businesses operating under the Goods and Services Tax regime. It consolidates Central and State taxes, including CST, Service Tax, Excise Duty, VAT, Entertainment Tax, Luxury Tax, and Octroi.
By registering for GST, businesses ensure compliance with the unified tax system and avoid penalties and legal complications.
Stay compliant and contribute to the vision of “One Nation, One Tax” by registering for GST online. Simplify your tax obligations and ensure a smooth business journey. Contact us for expert assistance in GST registration and compliance.
Documents Required for GST Registration
For a Sole Proprietorship Business
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PAN Card
PAN card of the proprietor
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Aadhaar Card
Aadhaar card of the proprietor
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Ownership Proof
Proof of business ownership (rent agreement or property documents)
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Bank account details
Details of the Bank Account
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Photograph
Passport-sized photograph of the proprietor
For a Partnership Firm
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PAN Card
PAN card of the partnership Firm
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Aadhaar Card
Aadhaar card of the designated partner
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Partnership Deed
Partnership Deed of the registered firm
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Bank account details
Details of the Bank Account
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Photograph
Passport-sized photograph of the designated partner
For a Hindu Undivided Family (HUF)
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PAN Card
PAN card of the HUF
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Aadhaar Card
Aadhaar card of the Karta
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Bank account details
Details of the Bank Account of HUF
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Photograph
Passport-sized photograph of the Karta
For a Public or Private Company
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PAN Card
PAN card of the company
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MOA & AOA
Memorandum of Association (MOA) and Articles of Association (AOA)
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Certificate of Incorporation
Document that proves that the business is registered
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Bank account details
Details of the Bank Account
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Photograph
Passport-sized photograph of authorized signatories
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GST Registration Process with Avery Biz Solutions
Contact our expert
Upload document & verification
Filling Application & ARN generation
Receive your GST certificate
How many types of GST?
✔ Central Goods and Services Tax (CGST): CGST is the component of GST levied by the central government on intra-state transactions of goods and services. The revenue generated from CGST goes to the central government.
✔ State Goods and Services Tax (SGST): SGST is the counterpart of CGST and is levied by state governments on intra-state transactions. The revenue generated from SGST remains within the state.
✔ Integrated Goods and Services Tax (IGST): IGST is applied to inter-state transactions of goods and services. It is collected by the central government but shared with the concerned states to ensure a seamless flow of goods between states.
✔ Compensation Cess: This component is levied on specific goods deemed as luxury or sin goods, ensuring that a compensation fund is established for states facing revenue losses during the initial implementation of GST.
Complete GST Registration Process
Visit the GST portal, www.gst.gov.in, and create a username and password.
Click on ‘New User Login’ and accept the displayed declaration form.
Press ‘Continue’ to proceed with GST Registration.
Select ‘New Registration’ and Log in to initiate the GST registration process.
Choose ‘Taxpayer’ from the drop-down menu and select your state and district and follow the procedure further.
Enter the OTP sent to your email and mobile number.
Click ‘Proceed’ after OTP verification.
Note the Temporary Reference Number (TRN) displayed on the screen as TRN is essential for accessing PART-B and the GST registration application.
Open the GST portal again and Click ‘Register’ under ‘Taxpayers’ menu.
Select ‘Temporary Reference Number (TRN) and Enter TRN and captcha details.
Click ‘Proceed’ after entering captcha details.
Receive an OTP on your email and registered mobile number.
Click the Edit icon on the right side of the page
On the next page, fill in relevant details and attach necessary documents
The Application Reference Number (ARN) will be sent to your registered email and mobile number after successful registration.
What is GSTIN Number?
The GSTIN is an abbriviation for Goods and Services Tax Identification Number, is a unique alphanumeric identifier assigned to businesses registered under GST.
It plays a pivotal role in tracking tax payments, compliance, and the flow of goods and services across the country.
This unique identifier streamlines the taxation process and enables better tax administration.
What is GSTN?
The GSTN(Goods and Services Tax Network) is the technological backbone of the GST regime in India.
This robust IT platform manages a wide spectrum of tasks, including registration, return filing, payment processing, and data exchange between the central and state tax authorities.
By digitizing various aspects of the tax process, GSTN (Goods and Services Tax Network) ensures transparency, efficiency, and accuracy.
Who is eligible for GST registration?
✔ Business Entities with Exceeding Turnover :- Any business entity with an aggregate turnover surpassing Rs. 40 lakhs in a financial year is mandated to register under GST. For special category states, the threshold is Rs. 20 lakhs.
✔ Entities Dealing in Exempt Goods/Services :- The turnover criterion does not apply if an entity exclusively deals in the supply of goods or services that are exempt under GST. Such entities may opt for voluntary registration.
✔ Transitional Registration from Earlier Tax Laws :- Businesses registered under previous tax laws like Excise, VAT, Service Tax, etc., need to transition to the GST regime and obtain GST registration.
✔ Inter-State Suppliers :- Entities engaged in the inter-state supply of goods must register under GST, regardless of their turnover.
✔ Casual Taxable Person :- Casual taxable persons, those who supply goods/services occasionally, are required to register before commencing business.
✔ Reverse Charge Mechanism Tax-Payers :- Tax-payers falling under the reverse charge mechanism, where the recipient is liable to pay tax, are obligated to register.
✔ Input Service Distributor (ISD) and its Agent :- An ISD, responsible for distributing input tax credit among branches, must register. Additionally, its agent facilitating such distribution requires registration.
✔ Ecommerce Operators/Aggregators :- Ecommerce operators or aggregators that facilitate the supply of goods/services through their platform are required to register, regardless of turnover.
✔ Non-Resident Taxable Person :- Entities not residing in India but supplying goods/services within its borders temporarily need to obtain GST registration.
✔ Agents of a Supplier :- Agents who make supply on behalf of a registered principal are also required to register under GST.
✔ Suppliers through Ecommerce Aggregators :- Businesses supplying goods/services through e-commerce aggregators need to be registered, irrespective of their turnover.
✔ Providers of Online Information or Database Services from Abroad :- Entities offering online information, database access, or retrieval services from outside India to recipients within the country need GST registration.
Structure of 5 Slabs Under GST Registration
1. Zero Rates: The zero rate tax, as the name suggests, implies a nil tax rate on certain goods and services. This category covers essentials that are vital to everyday life. Under zero rates, the tax burden is entirely eliminated, aiming to make these crucial goods and services more affordable and accessible to the masses.
2.Lower Rate: The lower tax rate, set at 5%, is targeted at items falling within the Consumer Price Index (CPI) basket and those that are part of mass consumption. This tier ensures that goods and services essential for daily life remain affordable and aren’t overly burdened by taxation. By keeping the tax rate at a minimal 5%, the government aims to strike a balance between revenue collection and consumer well-being.
3. Standard Rate: The standard rate tier encompasses two tax rates: 12% and 18%. This range covers a broad spectrum of goods and services that are neither extremely essential nor luxurious. Items falling under this category are commonly used by a substantial portion of the population.
4. Higher Rates: The higher rates tier represents the peak of the GST tax structure, with a tax rate of 28%. Goods and services categorized here are considered luxurious or non-essential. This tier targets items that cater to a specific segment of the market, typically those with higher purchasing power. The 28% tax rate generates revenue from the sale of high-end goods and services, contributing to government funds while minimizing the impact on the general public.
Consequences of Non-Compliance in GST
Delay in Filing GSTR
Late filing results in a penalty of Rs. 50 per day.
Not Filing GSTR
Non-filing attracts a late fee of Rs. 100 per day.
Committing a Fraud
A penalty equal to the tax evaded can be imposed.
Assisting Fraud
Individuals aiding fraud face a penalty equal to the fraudulent amount.
Wrongful GST Rate Charging
A penalty of 10% of the tax amount is levied.
Non-Issuance of Invoice
The penalty amounts to Rs. 10,000 or the tax amount
Non-Registration under GST
A penalty equal to 10% of the tax amount is imposed.
Issuing Incorrect Invoice
The penalty is equal to the higher of Rs. 25,000 or the tax amount.
Benefits of GST Registration
01.
Eligibility for Input Tax Credit (ITC)
One of the most substantial advantages of GST registration is the ability to claim input tax credit. This means that the tax paid on inputs and input services can be offset against the final tax liability. This mechanism promotes the seamless flow of credit throughout the supply chain, reducing the overall tax burden.
02.
Compliance with the Law
The license ensures that your business is compliant with the Shop and Establishment Act, avoiding potential penalties and legal issues.
03.
Access to Government Schemes
Registered businesses can access various government schemes, incentives, and benefits, supporting their growth and development.
04.
Social Security Benefits
The license allows employees to avail of social security benefits, fostering a positive work environment and employee satisfaction.
05.
Seamless Business Operations
The license serves as a foundation for acquiring other licenses and registrations, streamlining business operations.
06.
Opening Bank Accounts
Banks often require the license for opening business bank accounts, facilitating financial transactions.
Consequences of Non-Compliance in GST
Delay in Filing GSTR
Late filing results in a penalty of Rs. 50 per day.
Not Filing GSTR
Non-filing attracts a late fee of Rs. 100 per day.
Committing a Fraud
A penalty equal to the tax evaded can be imposed.
Assisting Fraud
Individuals aiding fraud face a penalty equal to the fraudulent amount.
Wrongful GST Rate Charging
A penalty of 10% of the tax amount is levied.
Non-Issuance of Invoice
The penalty amounts to Rs. 10,000 or the tax amount
Non-Registration under GST
A penalty equal to 10% of the tax amount is imposed.
Issuing Incorrect Invoice
The penalty is equal to the higher of Rs. 25,000 or the tax amount.
How can these penalties be avoided?
✔ Know your GST registration requirements.
✔ Register for GST early.
✔ Keep your GST records up to date.
✔ File your GST returns on time.
✔ Consult with a tax advisor.
✔ Automate your GST compliance process.
✔ Stay up-to-date on the latest GST regulations.
✔ Conduct regular internal audits.
How Avery Biz Solutions will help you with GST Registration?
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Benefits of having a GST Number
- Enhance Competitiveness: Having a GST number enables your business to compete on a level playing field with other businesses across India. It allows for seamless transactions with other GST-registered businesses and enables you to claim input tax credit, giving you a competitive advantage.
- Expand Online Presence: If you're considering expanding your business online, a GST number is essential. Most e-commerce platforms require businesses to have a GST number to sell products on their platforms. Obtaining a GST number through Avery Biz Solutions opens up opportunities for online growth.
- Maximise Input Tax Credit: With a GST number, you can avail input tax credit. This mechanism allows you to claim credit for the GST paid on inputs used in the production of taxable goods or services. By utilising input tax credit, you can reduce your GST liability and save money.
- Ensure Compliance and Avoid Penalties: By obtaining a GST number, you demonstrate your commitment to compliance with GST laws and regulations. Avery Biz Solutions can assist you in navigating the complexities of GST compliance, reducing the risk of penalties and other consequences associated with non-compliance.
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