Gst registration

GST registration is the procedure for a taxpayer to get registered under the Goods and Services Tax (GST). The Goods and Service Tax Identification Number (GSTIN) is supplied once the registration procedure is finished. 

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GST Registration Procedure
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What GST Actually is?

The GST (Goods and Service Tax) is a consolidated indirect tax policy that includes VAT, CST, Service Tax, Central Excise Duty, Entertainment Tax, and other taxes. It became effective on July 1, 2017. Applicable across India since then.

In other words, the GST (Products and Services Tax) is a tax on the provision of goods and services. The GST in India is a multi-stage, a destination-based tax levied on all value additions. The GST is a single domestic indirect tax law that applies across the board.

What is GSTIN?

Each individual registered for GST is given a GSTIN (Goods and Services Tax Identification Number). It’s a 15-digit number that serves as a unique identifier. The Tax Identification Number, or TIN, has been replaced by the GSTIN. Firms who already have a TIN will be automatically assigned a GSTIN, unlike new enterprises required to register under the GST Act. Tax officials generally use the number to keep track of GST payments and due dates for registered persons under the GST Act.

Getting a GSTIN and registering for GST are both free of charge. Prior to the introduction of GST, all state VAT-registered traders were given a unique TIN number by the different state tax authorities; the GSTIN has replaced this. Businesses that register for GST are now given a GSTIN, which is a unique identifying number.

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Composition scheme for small business

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Who should register in GST?

All businesses that sell items and earn more than INR 40 lakh in a fiscal year are required to register as regular taxable people. The maximum amount is INR 10 lakh if you run a business in J&K, Himachal Pradesh, or Uttarakhand in northeastern India.

The turnover cap for service providers is INR 20 lakh, with INR 10 lakh for special category states.

A list of businesses that are obliged to register for GST, regardless of income, is also included:

  • Input Service Distributor / Casual Taxpayer
  • An adult taxpayer who is not a resident of India
  • State-to-state supplier of goods and services
  • Any service provider who sells products using an e-commerce platform is considered an e-commerce platform provider.
  • You are required to pay tax under the reverse charge scheme.
  • The TDS/TCS deductor is a device that reduces the amount of TDS/TCS in
  • Provider of online data retrieval and access services

What is GST Return?

A GST return is a document that contains all of the information about your sales, purchases, sales tax (output tax), and purchases tax (input tax). You must pay the tax burden resulting from filing GST returns (money you owe the government).

Check out the GST.cleartax. On the website to file GST returns or for GST filing. It offers data import from a variety of ERP systems, including Tally, Busy, and custom excel, to mention a few. Additionally, Tally users may utilize the desktop program to submit data and files directly.

What's the fees for GST Registration in India?

There is no government cost for GST registration in India. Anyone may register for GST at no cost to them. However, because GST registration entails some hectic technical concerns, we at Markolegal will charge some very nominal fees for our expert to make it really easy for you and register you for GST in no time.

GST registration is a lengthy 11-step procedure that necessitates the submission of several company information and scanned documents. You can choose Markolegal for your Goods and Services Tax (GST) Registration services. Our experts will provide you with end-to-end GST registration assistance.

Documents required for GST Registration?

For GST Registration following documents are required

✔PAN Card of the Applicant

✔Identity and Address Proofs

✔2 Passport size photos

✔Digital Signature

✔Cancel cheque

✔Bank Account Details

What documents are required for GST registration?
What documents are required for GST registration

Check out this list of documents below you’ll need to register your business for GST:

1). PAN Card of the Applicant

All ordinary taxpayers must submit the following documentation when registering for GST registration. When registering for GST, the taxpayer must supply the PAN number; as a result, all firms must connect their PAN for taxation and legal purposes.

2). Identity and Address Proofs

The following individuals must present photocopies of their identification and proof of address. Documents such as a PAN, passport, driver’s license, Aadhaar card, or voter’s identity card can be provided as evidence of identity. Passports, driver’s licenses, and Aadhaar cards are examples of documents. Address proof can be given using a voter identification card or a ration card.

3). Bank Account Details

Scan the first page of a bank passbook or the appropriate page of a bank statement, or a scanned copy of a canceled cheque showing the name of the proprietor or business entity, bank account number, MICR, IFSC, and branch data, including code.

4). Digital Signature

All Goods and Service registration applications must be digitally signed. As a result, before commencing the application process, it is critical to secure a digital signature for the following person to sign the GST registration application.

5). Here’s the list you should check-

PAN (Personal Identification Number) of the applicant (Permanent Account Number)

It’s necessary to bring a copy of your Aadhaar card.

  • Proof of business registration or a certificate of incorporation
  • Identity and location an image of the promoters/directors as evidence
  • A bank statement or a canceled check
  • A letter of authorization or a board decision is required for an authorized signatory.
  • Signature on a computer
Benefits of GST Registration

✔ Combined Indirect Taxes

Startups that previously had to submit separate service tax and VAT returns can now do so under the GST framework. Prior to 2017, these companies had to follow both service tax and VAT regulations. GST registration removes the difference between goods and services, making billing more straightforward

✔No more cascading taxes

The GST has separated all indirect taxes into two categories: federal taxes and state taxes. The annoyance of “tax on tax” has been alleviated as a result of this arrangement. Small firms will benefit from increased immediate savings as a result of this.

If you operate a startup, you may take advantage of these tax benefits while also applying for low-interest business loans to support your expansion.

✔Simpler taxation process

You will be able to spend less time on tax compliance once you have registered for GST. GST unifies multiple tax compliances such as excise, service tax, CST, VAT, and others under one roof, making tax payment considerably easier and faster. Aside from that, GST makes tax compliance easier for small enterprises.

✔You can start easily

Another significant benefit of GST registration for SMEs is that new businesses would no longer be subject to different tax regulations in different states when conducting business across state lines. The implementation of GST has permitted centralized registration, which would not only simplify the process of launching a new firm but also reduce the hefty procedural costs that are required owing to state tax standards.

So, with the GST system, you can say goodbye to all the onerous paperwork and tax regulations you used to have to follow in order to establish your business.

important things you should know
FREQUENTLY ASKED QUESTIONS (FAQS) – IEC CODE Registration in Delhi

Yes, you’ve to register yourself or your firm under the GST regime if your turnover exceeds the threshold limit, which is 20 Lakh per annum.

A person is only permitted one registration in a state, according to section 25 of the CGST Act. Multiple registrations within the same state may, however, be permitted if the following requirements are met:

  • He must operate from many locations.
  • In the case of such a business location, he must file a second registration application.
  • Under the composition model, he will be ineligible to pay tax.
  • Every registered unit will be recognized as a distinct place of business, and supplies made from one unit to another will be subject to tax.
  • As a result, a taxpayer can register separately in each state based on their location.

If you have got an annual turnover of fewer than 1.5 crores, you can opt for this scheme.

A company with annual revenue of more than Rs 20 lakhs must register under the Goods and Services Tax. For North Eastern and hilly states designated as special category states, the maximum is fixed at Rs 10 lakhs.

  • Any taxpayer conducting business from a location in a different state must register for a separate GST registration in each state. Additionally, the same PAN can be used to register in many states.

 

  • Combined Indirect Taxes
  • Simpler taxation process
  • No more cascading taxes
  • You can start easily.
why choose us?
Why Choose Us?

Why Choose us for GST Registration Online-

Get your GSTIN @999

  • – Lowest fees across India
  • – It takes 3 to 4 days for GST Registration
  • – Mandatory Registration except in a few cases

Are you looking for a way to get your business registered under the GST regime at a low-interest rate? If that’s the case, go no further than Markolegal.

We guarantee minimum paperwork, eased business GST qualifying standards, fastest GST registration, and an online application option, among other things.

Without further ado, contact Markolegal right away!