GST Registration Service in Bangalore

GST Registration

GST is the biggest tax reform in India, tremendously improving ease of doing business and increasing the taxpayer base in India by bringing in millions of small businesses in India. By abolishing and subsuming multiple taxes into a single system, tax complexities would be reduced while the tax base is increased substantially. Under the new GST regime, all entities involved in buying or selling goods or providing services or both are required to register for GST. Entities without GST registration would not be allowed to collect GST from a customer or claim an input tax credit of GST paid and/or could be penalised. Further, registration under GST is mandatory once an entity crosses the minimum threshold turnover of starts a new business that is expected to cross the prescribed turnover

• Filing of Application for Registration
• Secure GST Identification Number
• Dedicated manager to process your GST registration end to end
• Completely Online– No need to visit office.

GST Turnover Limit

There are various types of GST registration and some types of entities like casual taxable persons, non-resident taxable persons or persons supplying through eCommerce operators are required to mandatorily obtain GST registration irrespective of turnover limit. The GST turnover limit for regular GST registration for service providers and goods supplier is provided below.

Service Providers: Any person or entity who provides service of more than Rs.20 lakhs in aggregate turnover in a year is required to obtain GST registration. In special category states, the GST turnover limit for service providers has been fixed at Rs.10 lakhs.

Goods Suppliers: As per notification No.10/2019 any person who is engaged in the exclusive supply of goods whose aggregate turnover crosses Rs.40 lakhs in a year is required to obtain GST registration. To be eligible for the Rs.40 lakhs turnover limit, the supplier must satisfy the following conditions:

• Should not be providing any services.
• The supplier should not be engaged in making intra-state (supplying goods within the same state) supplies in the States of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Telangana, Tripura and Uttarakhand.
• Should not be involved in the supply of ice cream, pan masala or tobacco.

If the above conditions are not met, the supplier of goods would be required to obtain GST registration when the turnover crosses Rs.20 lakhs and Rs.10 lakhs in special category states.

Special Category States: Under GST, the following are listed as special category states – Arunachal Pradesh, Assam, Jammu and Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh and Uttarakhand.

Voluntary GST Registration

Any person or entity irrespective of business turnover can obtain GST registration at any-time. Hence, GST registration is obtained by many businesses in spite of not reaching the aggregate turnover limit. Some of the main reasons for obtaining voluntary GST registration are:

• To improve the business credibility
• To satisfy the requirements of B2B customers
• To claim to input tax credit benefits

GST Registration Responsibilities

Entities registered under GST have various responsibilities and compliance requirements from time to time. Failure to comply with the GST regulations or compliance requirements can lead to penalties and revocation of GST registration by the authorities. Some of the main responsibilities of a person registered under GST include:

• Collecting and remitting GST amount from customers
• Issuing proper GST invoice as per the GST rules and regulations
• Filing GST returns whenever due based on turnover – even if there is no turnover or business activity
• FIling annual GST return
• Maintaining all records pertaining to GST for a period of 8 years

SLG Prof Sol offers a variety of services like income tax filing, GST return filing, private limited company registration, trademark filing and more. SLG Prof Sol can help you obtain GST registration in India and maintain GST compliance through proprietary GST accounting software. The average time taken to obtain GST Certificate is about 5 – 10 working days, subject to government processing time and client document submission. Get a free consultation on GST and GST return filing by scheduling an appointment with an SLG Prof Sol Advisor.

GST Registration Responsibilities?

Entities registered under GST have various responsibilities and compliance requirements from time to time. Failure to comply with the GST regulations or compliance requirements can lead to penalties and revocation of GST registration by the authorities. Some of the main responsibilities of a person registered under GST include:

• Collecting and remitting GST amount from customers
• Issuing proper GST invoice as per the GST rules and regulations
• Filing GST returns whenever due based on turnover – even if there is no turnover or business activity
• FIling annual GST return
• Maintaining all records pertaining to GST for a period of 8 years

SLG Prof Sol offers a variety of services like income tax filing, GST return filing, private limited company registration, trademark filing and more. SLG Prof Sol can help you obtain GST registration in India and maintain GST compliance through proprietary GST accounting software. The average time taken to obtain GST Certificate is about 5 – 10 working days, subject to government processing time and client document submission. Get a free consultation on GST and GST return filing by scheduling an appointment with an SLG Prof Sol Advisor.

Documents Required for GST Registration

Documents Required for GST Registration India

Here is the list of documents needed for GST registration:

• PAN Card of the Business and Applicant: The first thing in GST registration documents list is to get the PAN (Permanent Account Number) of the business and of the authorized signatories/applicant (Directors / Partners / Proprietor)
• Contact details and a valid Email address: A valid mobile number and an email address of the Primary Authorized Signatory is required to be filled at the time of GST registration.
• Proof of Place of business: Principal Place of Business is the primary location within the State where a taxpayer’s business is performed or where the business’s books of accounts and records are kept.
• As supporting documents for GST registration, keep following documents handy :
  1. Any supporting document giving title to the ownership of the premises such as Latest Property Tax Receipt or Municipal Khata copy or copy of Electricity Bill.
  2. Copy of the valid Rent / Lease Agreement/Consent letter (as applicable) and
  3. For every additional place of business in the state, proof of such additional place of business.
• Valid bank account number from India: You need to mention details of the bank accounts maintained for conducting business. You can enter details of up to 10 Bank Accounts. You will also need to fill the Indian Financial System Code (IFSC) number of the same bank and branch.
• Other required documents for GST registration:
  1. List of Goods and Services
  2. Proof of appointment of Authorized Signatory (Letter of Authorization or copy of board resolution)
  3. Authorized Signatories photo (soft copy)
  4. It is important to have digital signature (class 2 digital signature) in case of Companies and LLP’s, of the person who is authorised to sign the GST application
  5. Incorporation certificate (for Company)
  6. Other regulatory registration details such as Professional Tax, State Excise License details (If applicable)

What Should be the Size of Each GST registration Document Uploaded