Goods and Services Tax (GST) is meant to replace a number of central and state indirect taxes with a unified tax and is therefore expected to streamline and ease in doing business. In India, any person, firm or organization undertaking a supply of taxable goods is required to register under GST if, he/ they have crossed the annual aggregate threshold limit of Rs. 40 Lakh (20 Lakh for NE states and the Hilly States.) or he/ they are having inter-state transaction. There are certain other conditions and exemptions for the applicability of the threshold limit: for instance an e-commerce aggregator or a person who supplies through e-commerce aggregator has to mandatorily register for GST. Heavy fines and penalties are imposed in case a business required to be registered is not registered for GST.
GST registration requires obtaining a GST Number, GSTIN, from the tax authorities. GSTIN is a unique 15-digit number, usually linked to the PAN and is used to monitor tax payments and compliance.
Our representative would get in touch with you to understand the nature of your business and to guide you through the applicable registration process.
GST Application Form along with the required information and documents need to be submitted.
Submitted details need to be authenticated via email and OTP verification.
Acknowledgment Number followed by GST No is issued in due course followed by the issuance of GST Certificate within 7-10 business days of the application date.
GST registration is obtained within 7 – 10 business days of the application date.
Businesses having turnover exceeding Rs. 40 lakhs* (Rs 20 lakhs for NE and hill states) are required to have GST registration.
Currently, businesses with a turnover of up to Rs 40 lakh is exempt from GST registration, while the limit for hilly and north eastern states is Rs 20 lakh.
Section 23 (1) states that persons who are engaged in supplying goods or services or both that are not liable to be tax or persons who are engaged in supplying of goods or services or both that are wholly exempted from tax, then, such persons are not required to obtain GST registration.