The goods and services Tax (GST) has now become an integral part of business. Team FilingDoor is all set to be your guiding angel in the course of coping up with dynamic legal environment of GST era which has eliminated the exposure to eighteen tax laws. Feel free to connect us in case any queries or questions on GST and how it affects your business.
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 or when an individual starts a new business that is expected to cross the prescribed turnover.
Set One – Pan card, Aadhar card and Photo of the proprietor.
Set Two – Electricity Bill , Rent Agreement (if rented), NOC from owner of the property.
We need The Documents mentioned above and some other basic details to initiate the process of Registration.
Once we validated the documents and information submitted, we will submit the application to the Government authorities for approval. We will also be needing additional documents or clarification if required.
After successful submission of application, the file went through the process of review by Govt Officer, where they validated the information and documents submitted.
After validating all the documents by the government officer, he will grant the GST Registration and a temporary ID and Password will be received on the registered mail id.
For Sole Proprietorship
Rs. 1000/- only
For all other entity
Rs. 1600/- only
If an entity operates from more than one state, then a separate GST registration is required for each state. For example, a sweet vendor sells in U.P. and Delhi. He needs to have dual GST registration in U.P. and Delhi, respectively. A business with multiple business verticals in a state may obtain a separate registration for each vertical.
A supplier of goods, with an annual turnover of Rs. 40 lakh (Rs. 20 lakhs for special category States), must apply for GST registration. There are certain cases where the taxable person is liable to pay GST even though his turnover has not crossed this limit. Those providing services must get GST registration, once their turnover crosses Rs.20 lakhs and in case of Special Category States at Rs 10 lakhs.
Yes. But it doesn’t need to be a current account. It can also be a savings bank account or personal bank account. If the business has just started and only a personal savings account is there, then you can provide the same. And once you are registered, you can apply for the new current bank account based on the GST Certificate.
The mobile number of Authorized signatory be it a proprietor, partner or director as the case may be, must be linked with his Aadhaar.
Yes, GST Registration required a one legal entity name, so if you are registered as proprietorship firm then yes you can provide your any firm name. There are no name guidelines on the firm name while applying for the GST registration.
No. Businesses operating from a residential address can also be registered with the GST. Only the proof of address like electricity bill copy with the NOC or sale deed or rent agreement copy etc. is required.
The complete procedure of GST registration is paperless. The applicant needs not to be present personally at all.
Yes, in such scenario one place will be your principle place of business, whereas other places will be used as your Additional Place of Businesses.
In case of Proprietorship firm, the proprietor, in case of partnership firm, any one active partner, in case of company, any one whole time director should give his/her email id and mobile number who is authorized to sign all the documents and will be called as authorized signatory.
The following categories of persons are required to be registered compulsorily irrespective of the threshold limit:
i) persons making any inter-State taxable supply;
ii) casual taxable persons making taxable supply;
iii) persons who are required to pay tax under reverse charge;
iv) persons who are required to pay tax under subsection (5) of section 9;
v) non-resident taxable persons making taxable supply;
vi) persons who are required to deduct tax under section 51;
vii) persons who make taxable supply of goods or services on behalf of other registered taxable persons whether as an agent or otherwise;
viii) Input service distributor (whether or not separately registered under the Act);
ix) persons who supply goods, other than supplies specified under Section 9(5), through such e-commerce operator who is required to collect tax at source under section 52;
x) every electronic commerce operator who is required to collect tax at source under section 52
xi) every person supplying online information and data base retrieval services from a place outside India to a person in India, other than a registered person; and,
In addition, the Government may notify other person or class of persons who shall be required to be registered mandatorily.
Except for the changes in some core information in the registration application, a taxable person shall be able to make amendments without requiring any special approval from the tax authority.
In case the change is for the legal name of the business, or the state of place of business, the taxable person will apply have to apply for amendment within 15 days of the event. The assessing officer will then approve the amendment within the next 15 days.
For other changes like email id’s, mobile no.’s etc, no approval of the assessing officer is required and the amendment can be done by the taxable person himself from the GST Website i.e. gst.gov.in
DSC is required only in case of the private limited company or OPC or LLP etc. for the Proprietorship Firm or partnership firm, it’s not required the DSC.
No, it can only be adjusted against the GST payable on Sales made by you. However, if due to your nature of business, the tax paid on purchase is always higher than the tax payable on sale. In such case refund can be claimed.
For e.g. If the purchase made is taxable at 12%, however the sale made is taxable at 5%. In such scenario no GST will be payable ever and the excess tax paid will stand into credit of you GST ledger. GST refund can be claimed in such cases.
Any person working on any valid designated position in the firm/company can be appointed as Authorized Signatory other than Proprietor / Partner / Director
Yes, GST Registration alone stand as a business registration enough to start business as a proprietor.
In case of transfer of business by way of sale of business, merger or demerger, a registered taxpayer can transfer the input tax credit unutilised and available in his electronic credit ledger into another business by filing a declaration in Form GST ITC-02.
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