Know Everything about GST Return Filing

1. What is GST Return?

The term “return” means statement of information furnished by the taxpayer to tax authorities at regular intervals.

The information to be furnished in the GST Return comprises of:

  • Details of business operations
  • Sales/Turnover
  • Purchases
  • Determination and Discharge of tax liability.
  • Deductions and Exemptions
  • All the returns under GST law are to be filed electronically.

2. Frequency of filing GST Return?

In the GST regime, any regular business registered under GST has to file two monthly returns and one annual return. This will results to 26 returns in a fiscal year.

Every registered person has to file one monthly return GSTR 1 (depending upon the turnover) and monthly GSTR 3B for furnishing the summary of outward supplies and inward supplies along with the payment of any GST dues.

3. Furnishing Details of Outward Supplies

  • Every registered person shall be required to file a return containing the details of outward supplies
  • Return has to be submitted in Form GSTR-1
  • GSTR-1 has to be submitted upto 10th of the subsequent month.
  • The details filed under GSTR-1 shall reflect in recipient GSTR-2A (auto populated) to cross verify the ITC available to the recipient

4. Furnishing Details of Inward Supplies

Every registered person shall be required to submit a return containing the details of inward supplies.
Return has to be submitted

5. Types of Returns under GST and Due Dates of filing GST Returns

Return Form Particulars Frequency Due Date
Form GSTR-1 Furnish details of outward supplies of taxable goods and/or services affected Monthly 11th* of the succeeding month with effect from October 2018

*Previously, the due date was 10th
Form GSTR-2A This is auto-populated of inward supplies made available to the recipient on the basis of Form GSTR-1 furnished by the supplier Monthly 11th* of the succeeding month
Form GSTR-2
Suspended
Detail of inward supplies of taxable goods and/or services affected claiming the input tax credit or modification in GSTR-2A Monthly 15th of the succeeding month
GSTR-3
Suspended
Monthly return of details of outward supplies and inward supplies along with the payment of tax. Monthly 20th of the succeeding month
Monthly
GSTR-3B which is a monthly return filed It is a Simple Return in which summary of outward supplies along with Input Tax Credit (ITC) is declared and payment of tax is affected by taxpayer Monthly 20th of the succeeding month
GSTR-4 Furnish details of outward supply. This return is for a taxpayer registered under the composition scheme Monthly 18th of the month succeeding quarter
GSTR-5 Furnish details of imports, outward supplies, tax paid, input tax credit etc. This return is for a Non-Resident foreign taxable person Monthly 20th of the succeeding month
GSTR-6 Return for an Input Service Distributor furnishing details of input credit distributed. Monthly 13th of the succeeding month
GSTR-7 Return for authorities furnishing the details of TDS deducted Monthly 10th of the succeeding month
GSTR-8 Details of supplies through e-commerce operator and the amount of tax collected on the supplies Monthly 10th of the succeeding month
GSTR-9 Annual Return for a Normal Taxpayer furnishing details of ITC availed and GST paid Annually 31st December of succeeding fiscal year*
GSTR-9A Annual Return for a taxpayer registered under the composition levy anytime during the year Annually 31st December of succeeding fiscal year*
GSTR-10 Final Return- For taxpayers whose registration has been surrendered or cancelled Once, when GST Registration is cancelled or surrendered Within 3 months of the date of cancellation or date of cancellation order, whichever is later
GSTR-11 Furnish details of inward supplies by a person having UIN and claiming a refund Monthly 28th of the month succeeding month for which statement is filed

* Subject to changes by Notifications/ Orders

6. Late Fees for non-filing of return in time

Return filing is mandatory under GST. Even if there is no transaction, you must file a NIL return.

  • You cannot file a return if you do not file previous month/quarter’s return.
  • Hence, late filing of GST return will have a cascading effect leading to heavy fines and penalty of interest
  • The late filing fee of the GSTR-1 is populated in the liability ledger of GSTR-3B filed immediately after such delay.

GST Registration Process – A Comprehensive Guide

1. What is GST Registration?

In the GST Regime, businesses whose turnover is more than Rs. 20 lakhs (Rs 10 lakhs for North East and hill states) are required to register as a normal taxable person. Registration under GST is mandatory for certain businesses. If the organisation is liable to register under the GST and carries on business without registering under GST, it will be considered as an offence under GST and heavy penalties will be levied. GST registration will usually take 2-6 working days.

2. Who should register for GST in India?

Under the GST regime, the tax is payable by the registered taxable person on the supply of goods and services. Here we have mentioned who needs to get registered under GST mandatorily.
  • Individuals who are registered under the previous law (Excise, VAT, Service Tax etc.)
  • When the businesses or the taxable person crosses the turnover threshold limit of Rs 20 lakhs (Rs 10 lakhs for North East and Hill States)
  • Inter-State Suppliers
  • Businesses having multiple branches in multiple states
  • Casual Taxable Person
  • A person who is required to pay tax under Reverse Charge Mechanism (if the supplier is unregistered under GST).
  • A person who want to take Input Tax Credit
  • E-Commerce operators, supplying goods or services
  • Non- Resident Taxable Person.
*Casual taxable person means the person whose place of business is not fixed and undertakes transactions occasionally involving the supply of goods or services or both. *Non-Resident Taxable Person means the person whose place of business is not fixed or is not the resident of India and undertakes transactions occasionally involving the supply of goods or services or both.

3. What are the Documents required for GST Registration?

The document list varies for every business category. The most important document for GST Registration, Click here. Different types of business categories under GST are:
  • Sole Proprietorship/ Individual
  • Private Limited Company/Public Company/One Person Company (OPC)
  • Partnerships
  • Limited Liability Partnerships (LLP)
  • Hindu Undivided Family (HUF)

4. GST Registration for different locations

Registration has to be taken in the state or union territory from where the registered supplier makes a taxable supply of goods & services. Registration is not required in that state where taxable supply is made. Where in case supplies of goods or services are made from different states, a separate registration will be required but there should be a fixed establishment in that other state from where the goods or services are supplied.

5. Time Period to get register under GST

The person is required to get himself registered under GST within 30 days from the date when turnover exceeds Rs.20 Lakhs or Rs. 10 Lakhs(for north east & hill states).

For example: BBC Ltd. is engaged in supplying taxable services in New Delhi. The turnover of BBC Ltd exceeds on 1st October, now BBC Ltd. is requiredto get registered by 1st November in the state of New Delhi.

6. What will be the penalty for not registering under GST?

The penalty of 10% of the taxable amount due, subject to a minimum of Rs.10,000 shall be levied on the person not paying tax or making short payments.
The penalty will at 100% of the tax amount due when the offender has intentionally evaded taxes.
Not registering under GST is an offence under Section 122. The GST Act has listed down 21 offences in section 122.

7. GST Registration Process – Part – A

How to make a new registration on GST Portal online?

Every business whose Annual turnover exceeds Rs 20 lakh (Rs 10 lakhs for North East & hill states) is required to register under GST as a normal taxable person. GST registration can be done online through the GST Portal. On submission of a GST registration application, GST ARN is provided immediately.

Here is a step-by-step guide on how to complete registration process (PART-A) online on the GST Portal –

Step-1 : Go to the GST Portal

  • The GST Homepage will be displayed.
  • Click the Services > Registration > New Registration option.

The Application form for GST Registration is divided into two parts as Part A and Part B.

Step-2 After clicking New Registration form, you are required to fill the following details in Part-A:

First, select the New Registration option.
From the I am a dropdown list; select the option Taxpayer as the type.
In the State/UT and District select from the drop down list.
Enter the Legal Name of the Business (As mentioned in PAN) field.
Enter the Permanent Account Number (PAN) field; enter PAN of your business or PAN of the Proprietor. This will be added in the GST registration.

Note:

  • PAN is mandatory for GST registration.
  • In case you don’t have PAN, you can apply for PAN by clicking the here link.

Enter the Email Address field, of the Primary Authorized Signatory.
Enter the Mobile Number field of the Primary Authorized Signatory.

Note: One Time Password (OTP) will be sent on your email address and mobile number for authentication.

Enter the captcha code in the Type the characters you see in the image below field.
After that, Click the PROCEED button to complete the Part-A registration.

Step-3 OTP Verification and TRN Generation

The OTP Verification page is displayed after the submitting the proceed button (as showed above). Enter the two separate OTP sent to verify email and mobile number. OTP will be valid for 10 minutes.

  • Enter the OTP received on your registered mobile number in the Mobile OTP field.
  • Enter the OTP received on your email address in the Email OTP field

Step-4 TRN Generated

On successful OTP verification, a TRN (Temporary Reference Number) will be generated which can be used to complete and submit the GST registration. You can login through your TRN to view and complete your application.

Step-5 Now, you have to fill the following details in Part-B to complete the GST Registration. Click Here to understand the detailed procedure to fill Part-B.

8. GST Registration Process – Part – B

In the previous article, we have explained the process of making application in Part-A for GST Registration. Now let’s understand the detailed procedure to fill and complete Part-B of GST Registration.

Step-1 As Part-A is already done, now you are required to fill the following details in Part-B to complete the GST Registration:

  • Again go to GST portal
  • Click the Services > Registration > New Registration option.
  • Select Temporary Reference Number (TRN). Enter the TRN and the captcha code and click on Proceed.

Then, you will receive an OTP on the registered mobile and email. Enter the OTP and click on Proceed to login.

Step-2 Login with TRN

  • Now as the TRN is generated, you can complete the GST registration process, which is PART-B of the registration. After login, The My Saved Application page will be displayed. Click the edit icon (icon in blue square with white pen) under the Action option.

Step-3 Submit Information in registration form (Part-B)

On the top of the registration page, there are 10 tabs such as Business Details, Promoter or Partners, Authorized Signatory, Authorized Representative, Principal Place of Business, Additional Places of Business, Goods and Services, Bank Accounts, State Specific Information and Verification. Click separate tab to enter the details. This will affect this verification before the process the various tab. These can be taxed in the same head for the business details tab is selected by default and displays the information to be filled for the business details required for registration in the trade name of your business and the business threshold limit for the GST registration, Taxpayers are required to file the new GST for the registration arises.

Lets understand all tabs under registration process:

A. Business Details:

This tab is selected by default and displays the information to be filled for the business details required for registration.
a) Enter the trade name of your business.
b) Select the Constitution of Business drop-down list, select the type of constitution of your business.
c) Enter the District and Sector/ Circle / Ward / Charge/ Unit from the drop-down list and select the district & sector/circle/ward/charge/unit number of your business.
d) Select the Commissionerate Code, Division Code and Range Code from the drop-down list.
e) Choose Yes in case you want to opt for the Composition Levy, or else select No.
f) Enter the Date of commencement of Business
g) Enter the Date on which liability to register arises.

Note:This is the day the business crossed the aggregate turnover threshold for GST registration. Taxpayers are required to file the application for new GST registration within 30 days from the date on which the liability arises to register.

B.Promoters/Partners Information:

In this tab details of the Promoters of business, Company director information, and Proprietors information must be submitted.

You can enter the details of upto 10 Promoters or Partners.

Following fields should be filled:
a) Personal details of the stakeholder
b) Identity Information
c) Designation / Status of the stakeholder
d) Residential Address of the stakeholder.
e) Document Upload to upload the photograph of the stakeholder.
f) Where the promoter or partner is also the authorized signatory, you can select the option Also Authorized Signatory as Yes and details will be auto-populated in the Authorized Signatory tab.
g) Click the SAVE & CONTINUE button.

C. Authorized Signatory Tab:

The authorized signatory is a person nominated by the stakeholder of the company to be responsible for filing GST returns and other compliances.

In case a stakeholder was selected as an authorized signatory in the promoter’s section, this section will be auto-populated with the relevant details. The details required for authorized signatory is same as that of the promoters.

D. Authorized Representative:
This tab requires the details of the authorized representative.
Select Do you have any Authorized Representative using the radio button and fill the required details (if any).

E. Principal Place of Business:
It is the primary location within the State where the business activities are performed. It is generally the address where the books of accounts and records of business are kept.

a) In the Address Field, enter the address of the principal place of business in Address Field.
b) Enter the contact details like Email address, telephone number, mobile number field and fax number (with STD Code).
c) From drop-Select the Nature of Possession of Premises from the drop-down list.
d) Click the Choose file button to upload the documents..

Note:

  • Maximum file size is 1 MB (PDF or JPEG files)
  • Upload the documents for the proof of Principal Place of Business.
  • Document for Own premises – Any document in support of the ownership of the premises like Latest Property Tax Receipt or copy of Municipal Khata or Electricity Bill.
  • Document for Rented or Leased premises – A copy of the valid Rent / Lease Agreement with proof of ownership of the premises of the Lessor example Latest Property Tax Receipt or Municipal Khata copy or copy of Electricity Bill.

e) Choose the File button to upload the proof of SEZ unit or SEZ developer approval for the premises.
f) Click the checkbox for the Nature of Business activities being carried out at above-mentioned premises.
g) For additional place of business, select Yes for Have Additional Place of Business.
h) Click the SAVE & CONTINUE button.

F. Additional Places of Business:

You are required to enter the number of additional places of business and click the ADD NEW button. You can enter the same details provided above in Principal Place of Business Details.

G. Goods and Services:

This tab shows the details of the goods and services supplied by the business.
In case you deal with Goods, you are required to mention the HSN Code in the Goods tab. In case you deal with services, you are required to mention the Service Classification Code (SA) in the Services tab. Maximum 5 goods and 5 services can be added. If you have more than 5 goods or services, then you have to add the top 5 goods or services you are trading with.

H. Bank Accounts:

In this tab, it will display the details of the bank accounts maintained for managing business.
Also, You can enter details of up to 10 Bank Accounts

I. State Specific Information

J. Verification:

This is for authentication of the information submitted in the form.
You are required to digitally sign the form using Digital Signature Certificate (DSC)/ E-Signature or EVC.

After Submitting the Form, The success message is displayed. After that you will receive the acknowledgement in next 15 minutes. Application Reference Number (ARN) will be sent on your registered e-mail and mobile phone number.

Invoicing under GST

Basic understanding of GST Invoicing

An invoice is an instrument issued by a supplier of goods or services to a recipient. A tax invoice shall be issued by the registered person supplying taxable goods or services or both.

If a taxpayer does not issue a tax invoice to his customer, who is a registered taxable person, then his customer loses the ITC claim and the taxpayer loses its customers.

Particulars of the GST Tax Invoice

  • Name, Address and GSTIN of the supplier
  • If recipient is registered then, his Name, Address and GSTIN.
  • Invoice Number and Date of issue
  • Description of goods or services e.g unit price, quantity, total value
  • Place of Supply
  • HSN/SA Code
  • Total amount of supply of goods or services or both.
  • Rate of Tax (Central tax (CGST) + State Tax (SGST)/ Union Territory Tax (UTGST) (intra-state) OR IGST (inter-state)
  • Any tax is payable on reverse charge basis
  • Signature or digital signature (DSC) of the supplier or his authorized representative.

Meaning of Supplier & Recipient

Supplier is a person supplying taxable goods or services or both including an agent acting on the behalf of supplier.

Recipient of goods or services means:

A person liable to pay consideration for supply of goods or services or both.
Person to whom goods are delivered
Where consideration is not payable for the supply of service then the person to whom service is given.

Manner of Issue of Invoice

Taxable Supply of Goods Taxable Supply of Services
Invoices shall be issued in triplicate Invoices shall be issued in duplicate
Original copy for the recipient
Duplicate copy for the transporter
Triplicate copy for the supplier
Original copy for the recipient
Duplicate copy for the supplier

Time Limit of issue of Tax Invoice/ GST Invoice

In Case of Supply of Goods In Case of Supply of Services
The tax invoice for supply of goods must be issued on or before or – The tax invoice must be issued either –
  • Delivery of goods or making goods available to recipient.
  • Removal of goods* for supply to recipient, where the supply includes movement of goods.
  • Before the provision of serviceor
  • Within 30 days from the date of supply of the service (45 days in case of banking company, insurance company or financial institution)

*Where removal of goods means-

  • Dispatch of goods by the supplier
  • Collection of goods by the recipient.

Types of Invoices under GST

  1. Tax Invoice
  2. Bill of Supply
  3. Debit Note
  4. Credit Note
  5. Aggregate Invoice

1. Tax Invoice – A tax invoice shall be issued by the registered person supplying taxable goods or services or both

2. Bill of Supply – A bill of supply has to be issued if there is no GST output.

It is similar to tax invoice but a Bill of Supply is issued when GST is not applicable on a transaction or where GST is not to be recovered from the customer.

For example: A registered dealer supplies goods or services, which are exempted from GST or where a registered dealer follows composition scheme of supplying goods.

3. Debit Note – The supplier issue a debit note to the recipient when:

  • Taxable value in the Tax Invoice is found to be less than Taxable value of supply of goods/services.
  • Tax charged in the Tax Invoice is found to be less than Taxable payable of supply of goods/services

4. Credit note – The supplier issue a debit note to the recipient when:

  • Taxable value in the Tax Invoice is found to exceed the taxable value of supply of goods/services.
  • Tax charged in the Tax Invoice is found to be less than taxable payable of supply of goods/services
  • The goods supplied are returned by the buyer.
  • Goods or services supplied are found to be deficient.

5. Aggregate Invoice – Where the value of multiple invoices is less than Rs. 200 in single day and the buyer is unregistered, in that case the seller can issue an aggregate invoice for the multiple invoices on a daily basis.

For example, Seller has issued 3 invoices in a single day of Rs.70, Rs.100 and Rs. 90. In such a case, seller can combine and issue a single invoice, amounting to Rs260, which is called an aggregate invoice.

Invoices for Export or supplies to SEZ

Exports in India for goods or services are under the category of Zero-Rated supply. No GST will be levied on the sale of goods or services outside the India. In case of goods or services exported to Special economic zones (SEZ) units, the invoices shall contain the following information:

  • Name and address of the recipient
  • Full Address of delivery
  • Name of the county destination

HSN/SAC Code on the GST Invoice

Harmonized system of nomenclature code (HSN) is used for goods and Accounting Code (SA) is used for services. No HSN Code is to be mentioned on the invoice if the turnover is less than or equal to Rs.1.50 crores for the preceeding financial year.

If the turnover is more than Rs.1.50 crores but less than Rs.5 crores in the preceeding financial year the HSN code at 2 digit level is required.

If the turnover is more than Rs.5 crores in the preceeding financial year the HSN code at 4 digit level is required.

Normally, code used for the classification of goods is 8 digit HSN Code and code used for the classification of services is 6 digit SA Code.

Download GST Invoice Format in Word and Excel.

GST Registration

1. What is GST Registration?

In the GST Regime, businesses whose turnover is more than Rs. 20 lakhs (Rs 10 lakhs for North East and hill states) are required to register as a normal taxable person.

Registration under GST is mandatory for certain businesses. If the organisation is liable to register under the GST and carries on business without registering under GST, it will be considered as an offence under GST and heavy penalties will be levied.

GST registration will usually take 2-6 working days.

2. Who should register for GST in India?

Under the GST regime, the tax is payable by the registered taxable person on the supply of goods and services.

Here we have mentioned who needs to get registered under GST mandatorily.

  • Individuals who are registered under the previous law (Excise, VAT, Service Tax etc.)
  • When the businesses or the taxable person crosses the turnover threshold limit of Rs 20 lakhs (Rs 10 lakhs for North East and Hill States)
  • Inter-State Suppliers
  • Businesses having multiple branches in multiple states
  • Casual Taxable Person
  • A person who is required to pay tax under Reverse Charge Mechanism (if the supplier is unregistered under GST).
  • A person who want to take Input Tax Credit
  • E-Commerce operators, supplying goods or services
  • Non- Resident Taxable Person.

*Casual taxable person means the person whose place of business is not fixed and undertakes transactions occasionally involving the supply of goods or services or both.

*Non-Resident Taxable Person means the person whose place of business is not fixed or is not the resident of India and undertakes transactions occasionally involving the supply of goods or services or both.

3. What are the Documents required for GST Registration?

The document list varies for every business category. The most important document for GST Registration, Click here.

Different types of business categories under GST are:

  • Sole Proprietorship/ Individual
  • Private Limited Company/Public Company/One Person Company (OPC)
  • Partnerships
  • Limited Liability Partnerships (LLP)
  • Hindu Undivided Family (HUF)

4. What is the process for GST Registration?

  • The registration process under GST is explained in the steps below
  • To register under GST, go on the GST Portal www.gst.gov.in
  • Click the Services > Registration > New Registration option.
  • You will be re-directed to Part – A of the registration form. Please fill in all the basic details like is the person a taxpayer, GST Practitioner, Tax Deductor, etc., the State, District, Legal Name of Tax Deductor
  • Enter your Email ID and Mobile Number on which OTP will be sent for verification.
  • Based on the business entity type you will have to upload the documents.
  • Once the Documents are submitted, TRN (Temporary Reference Number) is generated. It will be sent via Email and SMS on the registered mobile number.
  • GST Officer will verify and either approve the application or would request to provide more document or details till the authority have all the information to approve.

5. GST Registration for different locations

Registration has to be taken in the state or union territory from where the registered supplier makes a taxable supply of goods & services. Registration is not required in that state where taxable supply is made. Where in case supplies of goods or services are made from different states, a separate registration will be required but there should be a fixed establishment in that other state from where the goods or services are supplied.

6. Time Period to get register under GST

The person is required to get himself registered under GST within 30 days from the date when turnover exceeds Rs.20 Lakhs or Rs. 10 Lakhs(for north east & hill states).

For example: BBC Ltd. is engaged in supplying taxable services in New Delhi. The turnover of BBC Ltd exceeds on 1st October, now BBC Ltd. is requiredto get registered by 1st November in the state of New Delhi.

7. What will be the penalty for not registering under GST?

The penalty of 10% of the taxable amount due, subject to a minimum of Rs.10,000 shall be levied on the person not paying tax or making short payments.
The penalty will at 100% of the tax amount due when the offender has intentionally evaded taxes.
Not registering under GST is an offence under Section 122. The GST Act has listed down 21 offences in section 122.

Documents Required for GST Registration

Documents Required for New Registration Application of a Normal Taxpayer

1. Constitution of Business – Sole Proprietorship/Individual

Purpose Documents Required
1.Proof of identity of the Individual
  • PAN Card
  • Aadhar Card
2.Proof of Principal place of Business (Any One)
  • For Self Owned Property -Copy of Electricity Bill/ Landline Bill, Water Bill,Legal Ownership document, Property Tax Receipt, Municipal Khata Copy. For Rented Property – Rent agreement/Lease Agreement and NOC (No objection certificate) of owner.
  • Aadhar Card
3.Proof of Details of Bank Account (Any One)
  • First Page of Passbook
  • Bank Statement
  • Cancelled cheque
4.Photo of Authorised Signatory
  • Photo of the Individual/Promoter/Partner

2. Constitution of Business – Private Limited Company/Public Company

Purpose Documents Required
1.Proof of Constitution of Business (Any One)
  • PAN Card of the Company
  • Certificate of Incorporation
  • Memorandum of Association (MOA)/ Articles of Association (AOA)
  • Copy of Board Resolution
2.Proof of Authorised Signatory
  • PAN Card of the Directors
  • Identity Proof of the Directors ( E.g Aadhar Card)
3.Proof of Principal place of Business (Any One)
  • For Self Owned Property -Copy of Electricity Bill/ Landline Bill, Water Bill, Legal Ownership document, Property Tax Receipt, Municipal Khata Copy.
  • For Rented Property – Rent agreement/Lease Agreement and NOC (No objection certificate) of owner.
4.Proof of Details of Bank Account (Any One)
  • First Page of Passbook
  • Bank Statement
  • Cancelled cheque
5.Photo of Authorised Signatory
  • Photo of the Authorised Person

3. Constitution of Business – Partnership

Purpose Documents Required
1.Proof of Constitution of Business (Any One)
  • PAN Card of the Partnership
  • Partnership Deed
  • Any proof of Constitution
2.Proof of Authorised Signatory
  • PAN Card of the designated partners
  • Identity Proof of the designated partners ( E.g Aadhar Card)
3.Proof of Principal place of Business (Any One)
  • For Self Owned Property Copy of Electricity Bill/ Landline Bill, Water Bill, Legal Ownership document, Property Tax Receipt, Municipal Khata Copy.
  • For Rented Property – Rent agreement/Lease Agreement and NOC (No objection certificate) of owner.
4.Proof of Details of Bank Account (Any One)
  • First Page of Passbook
  • Bank Statement
  • Cancelled cheque
5.Photo of Authorised Signatory
  • Photo of the Partner

4. Constitution of Business – Limited Liability Partnership (LLP)

Purpose Documents Required
1.Proof of Constitution of Business (Any One)
  • PAN Card of the LLP
  • Certificate of Incorporation of LLP
  • LLP Partnership Agreement
  • Copy of Board Resolution
2.Proof of Authorised Signatory
  • PAN Card of the designated partners
  • Identity Proof of the designated partners ( E.g Aadhar Card)
3.Proof of Principal place of Business (Any One)
  • For Self Owned Property Copy of Electricity Bill/ Landline Bill, Water Bill, Legal Ownership document, Property Tax Receipt, Municipal Khata Copy.
  • For Rented Property – Rent agreement/Lease Agreement and NOC (No objection certificate) of owner
4.Proof of Details of Bank Account (Any One)
  • First Page of Passbook
  • Bank Statement
  • Cancelled cheque
5.Photo of Authorised Signatory
  • Photo of the Partner

5. Constitution of Business – Hindu Undivided Family (HUF)

Purpose Documents Required
1.Proof of the Stakeholder
  • PAN Card of the stakeholder
2.Proof of Principal place of Business (Any One)
  • For Self Owned Property Copy of Electricity Bill/ Landline Bill, Water Bill, Legal Ownership document, Property Tax Receipt, Municipal Khata Copy.
  • For Rented Property – Rent agreement/Lease Agreement and NOC (No objection certificate) of owner
3.Proof of Details of Bank Account (Any One)
  • First Page of Passbook
  • Bank Statement
  • Cancelled cheque
4.Proof of Authorised Signatory
  • Photo of the Stakeholder
  • Photo of Authorised Signatory

Benefits of GST Registration

GST Registration Overview : Who should register?

In the GST Regime, businesses with a turnover of more than Rs. 20 lakhs (Rs 10 lakhs for North East and hill states) are required to register for GSTIN. Registration is also mandatory for certain types of businesses, which can be viewed in detail here.

If the organisation is liable to register under the GST regime and carries on business without registering for a GSTIN, it is considered an offence under the GST Act,2017 and heavy penalties are levied.
Getting your GSTIN (Goods and Services Tax Identification Number) will usually take 2-6 working days after registration.

The Benefits of GST Registration?

If you are not liable to get a GST number, there are still many benefits of getting one. These are:

  • Your business is legally recognized as a supplier of goods or services.
  • You can offset input tax credit on goods or services used, against the final payment of GST due to the GST Authority; This can be done with the help of proper accounting.
  • Small businesses and startups can register with E-Commerce companies and enter into online sales without having to concern yourself with the tax effects of selling goods in multiple states.
  • All businesses can make interstate sales without any restrictions. (For Interstate sales, it is mandatory to register under GST irrespective of the limit of Rs. 20 Lakhs for registration).
  • Under the GST Regime, businesses no longer need to obtain multiple registrations (service tax, VAT, etc;), as a single GST registration, would be applicable across India; Thus, a unified tax code has significantly improved the ease of starting a new business in India.
  • All businesses which have successfully registered under GST are allotted a unique GSTIN, which can be quoted on invoices.