GST Registration - Overview
GST Registration is a process by which any business operations whose annual turnover exceeds Rs. 40 Lakh limit must register as a separate taxable person. The limit was 20 Lakhs for North Eastern states & Hill states. GST registration was established with a view to abolish several other indirect taxes and to create a single taxation system.
GST Registration usually takes between 2 to 6 days working days. GST registration is mandatory for several businesses. If a business operates without GST registration, it will be considered as an offence under GST act. Heavy penalties will be laid in such situation.
Benefits of GST Registration
Simplifies Taxation services
Reduction in cost of products & Services
Minimizing Tax evasions
Composition scheme for small business
Regulations of unorganized sector
Documents Required For GST Registration
- PAN Card & Aadhar A valid Pan card & Aadhar card is a must for Applicants.
- Identity Proof of Shareholders and Directors, such as aadhar card and Voter ID/ Passport/ Driving License.
- Address Proof of Shareholders and Directors, such as the latest Telephone Bill /Electricity Bill/ Bank Account Statement.
- Passport size photograph of Shareholders and Directors of updated.
- Business Address Proofs such as latest Electricity Bill/ Telephone Bill of the registered office address
- NOC or No Objection Certificate to be obtained from the owner(s) of registered office
- Rent Agreement is needed if the registered office is a rented place.
- Incorporation certificate Proof of business registration or Incorporation certificate.
- Bank statement Bank Account statement/Cancelled Cheque.
- Digital Signature Obtain Digital Signature Certificate.
Process To Register
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Experts from team Pattayar will take care of your GST registration process. Pattayar team will help you on the applicability and compliances under GST for your business and Get your business registered under GST.
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