GST Registration Requirements
The new GST regime has introduced compliance guidelines that oblige businesses to comply. All businesses are required to adopt the GST compliance rules set by the government.
Documents Required
- PAN CARD
- AADHAR CARD
- PASSPORT SIZE PHOTO
- ELECTRIC BILL
- RENT AGREEMENT (IF RENTED)
Charges – 999/-
Working Duration
3-5 Working Days
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Highlights Of GST Registration
TAXES INCLUDED BY GST
The GST combines Central Excise Duty, VAT, Service Tax, Customs Duty, Central Sales Tax, Central Surcharge and Cess, Octroi, Luxury Tax, Entertainment Tax, Purchase Tax and a couple of other indirect taxes. The GST applies to all products, enterprises and services.
RATES OF GST
The GST Council has chosen a four-level structure. The GST rate vary as per the type of merchandise and services. For gold, GST has been fixed at 3 per cent and 18 per cent for making charges. CGST and SGSTGST include Central component and a state component.
GST THRESHOLD
Organisations with a turnover of supply over Rs. 20 lakh must enrol for GST. The keyword here is supply, which subsumes stock-taking, rebates, and complimentary gifts. As a matter of fact, even those providing non-taxable merchandise must register for GST.
Eligibility for GST Registration / GST Threshold Limit
- Please submit copies of Individual’s or Firm’s copy of PAN Card.
- A copy of the company's letterhead may also be required.
- Casual taxable person / Non-Resident taxable person
- Agents of a supplier & Input service distributor
- Those paying tax under the reverse charge mechanism
- A person who supplies via an e-commerce aggregator
- Every e-commerce aggregator
- Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person
Penalty for not registering under GST
If you do not pay tax or pay a lesser amount than what is due, the levied penalty is 10% of the due amount (in case of genuine errors). However, the minimum penalty is ₹10,000.
If you have not registered for GST and are deliberately trying to evade tax, the penalty levied is 100% of the due tax amount.