Planning to start a business and worried about GST registration? We got it all.
So who should register for GST?
The registration of GST is mainly based on turnover but its actually quite complicated. The limits also changes based on which state are you operating in, what type of business are you doing and other more.
To consider in simple terms, if you supply only goods then the limit is Rs. 40 lakhs and if you supply services your limit is Rs. 20 lakhs. (Note: There may be different threshold limits for registration under GST. Even there are a few cases where the supply is of even Rs. 1 you need to register under GST. So, consult your CA properly regarding your GST registration.)
How long does it take?
It takes around 2-6 working days for registration.
What are the documents required?
1. For Individuals
PAN Card
Aadhar Card
Photograph of the Owner
Address proof of Business (NOC, Sale deed, Rental Agreement, etc.)
Bank Account details
Phone number registered with Aadhar
Email ID
2. For Partnership and LLP
Partnership Deed
PAN card of the partners
Aadhar Card of the partners
Photographs of the partners
Address proof of business
Bank Details
LLP Proof of registration
Signatories proof of appointment
Phone numbers of the partners registered with Aadhar
Email ID
3. For HUF
HUF’s PAN Card
Karta’s PAN Card
Karta’s Photograph
Address proof of business
Bank Details
Phone numbers of the Karta registered with Aadhar
Email ID
4. For Companies
Companies PAN card
MCA Incorporation Certificate
MoA, AoA
Signatories proof of appointment
Signatories PAN Card
Signatories Aadhar Card
PAN card of all the directors
Aadhar card of all the directors
Address proof of business
Bank Details
Phone numbers of the directors registered with Aadhar
Email ID
5. For Club or Society
Society Registration Certificate
PAN card of the promoters of Society
Aadhar Card of the promoters of Society
Address proofs of the promoters of Society
Photographs of the promoters of Society
Address proof of business
Bank Details
Signatories proof of appointment
Phone numbers of the promoters of Society registered with Aadhar
Email ID
The process is very easy and you can register the same at a very nominal cost of INR 4000-6000.
One should note that getting GST is not Tough but its regular maintenance and compliance is. So once you are registered make sure you have a proper team to manage your GST Compliances.
We hope the above blog was helpful in enhancing your knowledge on the matter. In case of any queries feel free to get in touch with our team of experts.
Quote of the day:
“There is only one way to avoid criticism: Do nothing, say nothing, and be nothing.“
- Aristotle
Regards
CA Umang Jain
+91-96323-32850
umang@caumang.com
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