GST Registration

GST Number (GSTIN) is a unique 15 digit number which is allotted to the assessee at the time of filing an application for registration for Goods & Service Tax.It is an identification number which is assigned to each Firm or Company or Individual.Its a like a PAN Number for the same. Its a 15 digit unique tax identification number. The first two digit show the state code & another next 10 digit show the pan number of the entity or person. Apart from this next 1 number show the state Code & another 2 number are random. 

As per the GST law, every person (including company, LLP etc) has to register under GST if the total turnover crosses Rs.40 lakh (Rs.20 lakh in case of north eastern states). Hence, if your turnover is more than Rs 40 lakh or is going to be more than Rs 20 lakh, then it is advised that you should go for GST registration.

When GST Registration Is Mandatory ?

In below all cases registration is mandatory .

Export sales or services

Selling on E-commerce sites

Reverse Charge

Casual Taxable Person

Non resident taxable person

Input Service Distributor

Crossing the Threshold Limit(Rs 40 lacs or Rs 20 lacs)

Documents Required For Gst Registration

In below all the documents is required:-

Photo scan copy

PAN card

Aadhaar card with mobile number registered

Trade licence

Professional tax registration (for few states only)

PAN card , memorandum of association , articles of association in content of company

PAN card and deed in content of partnership

Digital signature(class-3)in case of companies

Electricity bill(not older than 3 months) with Rental agreement of Business premises, provided business premises is rented.

Mutation certificate/Land porcha of landlord with corporation tax receipt/panchayat tax receipt(for few states only)

Letter of authorization for signatory .

NOC from premises owner/Land lord

WHO CANNOT REGISTER FOR COMPOSITION SCHEME

• If Annual turnover exceeds INR 1.5 Crores
• If you involved in Inter-State supplies
• All Service Sector Business except restaurant
• Importer of goods & services
• E-commerce sellers
• Supplier of non-taxable goods
• Manufacturer of Notified Goods

Physical verification for GST registration

As per provisions of rule 9 of the Central Goods and Services Tax Rules, 2017, physical verification of the business premises of the applicant is mandatory under any of the following circumstances-

• The applicant has not opted for the Aadhaar authentication; or
• The applicant has opted for the Aadhaar authentication, however, the same is failed.

Based on the above provisions, it can be concluded that under any of the above circumstance, the GST registration will be granted post completion of physical verification by the proper officer.

PENALTIES INVOLVED UNDER GST ACT

• Not having GST Registration : 100% tax Due or Rs10,000. Whichever is higher
• Not giving GST invoice : 100% tax due or Rs10,000. Whichever is higher
• Incorrect Invoicing : Rs 25,000
• Not filing GST Tax Returns : For Nil Return its Rs 20 Per Day, Regular Returns Rs 50 Per Day.
• Choosing Composition Scheme even if not eligible : 100% tax due or Rs10,000. Whichever is higher
• Apart from above there are several other penalties for GST