GST Registration and Filing
As per the GST law, every person (including company, LLP etc) has to register under GST if the total turnover crosses Rs.20 lakh (Rs.10 lakh in case of north eastern states). Hence, if your turnover is more than 20 lakh or is going to be more than 20 lakh, then it is advised that you should go for GST registration.
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Once, it is decided that GST registration is applicable, one must gather all the required documents for GST registration. The appropriate required documents differs from case to case basis like it is different for private Limited company, OPC, partnership etc.
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Once all the required documents are completed, the next step is to visit www.gst.gov.in and create the login credentials and after that fill the complete information appropriately to avoid rejections and penalties after rejections.
Documents Required for GST Registration
PAN & Photo
PAN & photo are required for each & every director & shareholder in India.
Registration Proof
Partnership deed, COI, or any other registration document is required
Other Documents
Bank statement, authorization form & board resolution
Address Proof
Ownership proof, utility bill and NOC format
When GST Registration is Mandatory?
Do you know there are many cases under GST, when GST registration becomes mandatory? Yes, we have summed the eight cases where GST registration is mandatory for every person even if they are earning Re.1 turnover. Hence, it is important to know all the mandatory GST registration cases so you don’t end up paying penalties. Here are all the eight cases of GST registration.
Export cases
GST registration is mandatory if you are engaged in export of goods and services
Selling on E-commerce
If you are willing to sell goods on Amazon or Flipkart then GST registration in mandatory
Reverse Charge
If you fall under the reverse charge mechanism then GST registration is mandatory
Inter State Supply
If you are a interstate supplier of good, then also GST registration is mandatory.
Casual Taxable Person
Casual taxable person needs a mandatory GST registration in India
Non resident taxable person
A non resident taxable person needs a mandatory GST registration in India
Input Service Distributor
Input Service Distributor needs mandatory GST registration in India
Crossing the Threshold
If your turnover within state crosses 20 lakh, then GST registration is mandatory
GST Registration
GST Registration is a completely online process and can be done by anyone since it does not require any professional signature or attestation. However, GST registration involves some technical discussion and hence, it is recommended that you should take the help of a professional so you don’t end up doing it wrong. Further, list of all the required documents must be kept in soft copy because they are required to be uploaded on the GST website. Also, if you are a company, then digital signature should also be kept handy. Further, the brief the process has also be explained below:
STEP 1
Gather all documents
The first step is to gather all the required documents as prescribed above and sent us all in scan copy to us. No hard copy of documents is required.
STEP 2
Make profile on GST website
Once all documents are kept in proper format in a computer, the next step is to create the profile on gst website. Make sure you enter correct mobile and phone number because you will receive OTP for verification.
STEP 3
Fill the Complete application
Once profile is created, the next step is to fill the online application on the GST website. The application require various data to be filed. Further, make sure you fill correct data to avoid rejection.
STEP 4
Submit the application
Once you have filled the application properly, get the same verified from an expert to avoid mistakes. If the expert gives his thumps up, then submit the application and wait for the ARN to generate.
STEP 5
Track the Application
After the application has been submitted, track the same and check if there is any resubmission. If there is any resubmission, then submit the application again after making the certain corrections.
STEP 6
Application Approved
Once you resubmit the application, the GST officer will check the same. If he finds that application is correct, then he will approve the application.
Why do you need GST Registration?
GST registration not only helps you in getting your business recognized as a legal registrant but also opens a number of opportunities for your business.
GST Return Filing
After GST registration, it is mandatory to file the GST return in India even if you have zero turnover. Further, each month there are four returns needs to be filed. Here is brief summary about all the returns;
GSTR 3B - Monthly
It is a common return to be filed each month by the 20th of the following month. GSTR 3B is a summary return which needs to be filed mandatory even in case of zero turnover.
GSTR 1 and GSTR 2
GSTR 1 and 2 is filed on monthly or quarterly basis. GSTR 1 contained details of all the invoices raised during the previous month. GSTR 2 contains the details of all the inputs consumed.
GSTR 3 - Final
This return is a summary of all the transaction filed with the govt. It is a summary of all the transaction mentioned in GSTR 1 and GSTR 2 during the previous month or quarter.
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