X

Get Quote Instantly in a Minute

What is GST Registration?

GST or Goods and Service Tax has been considered as the biggest tax reform in the history of India. GST has merged Central and State taxes into one tax. GST has been implemented on the theme of One Nation One Tax and has tax slabs from minimum 0% to the Highest 28%.

Business entities whose turnover exceeds INR 40 Lacs (for Northeast and Hilly state 20 Lacs) are required to have a GST Registration. However, the limit for Service provider is still INR 20 Lacs. A certain category of Taxpayer u/s 24 of CGST Act 2017 needs to compulsorily register under GST irrespective of Turnover. It is in the best interest to determine upfront the registration requirements and eligibility criteria before opting to register for GST as it has ongoing compliances and further penalties for Non-compliance.

GST Registration is a seven-step process and further keeping track of the application upto approval. StartupSeven helps individuals and businesses in filing application for GST Registration.

FEATURES

GST Applicability

The Central GST and the State GST are applicable to all transactions of goods and services made for a consideration, except for goods which are outside the purview of GST and exempted goods and services.

Exports and Imports under GST

Exporters and Importers of both goods and services are compulsorily required to register under GST. A registered taxable person exporting goods or services shall be eligible to claim a refund of IGST paid or make Exports under bond or letter of undertaking without payment of IGST.

Composition Scheme for Small Business

Under the Composition Scheme, a Business with a turnover of less than 1.5 Cr. can pay GST on concessional rates, and also have lesser compliances for fillings. However, a composition dealer can not collect tax and can not take credit of inward supplies.

Removal of Cascading effect

One of the primary aims of a taxation system is to remove the cascading effect of tax i.e. No tax on tax already charged. Cascading effect of taxes is one of the major distortions of the Indian taxation regime. However, it has been completely removed in GST by seamless credit.

ELIGIBILITY CRITERIA

    • Upon reaching the Threshold of INR 40 Lac in case of Trader, and INR 20 lacs for a Service provider
    • Interstate Sales and Service
    • Ecommerce Operator
    • OIDAR Services
    • Non resident and Importer
    • Person Liable to deduct TDS/TCS
    • Input Service distributor

DETAILS AND DOCUMENTS

    • Pan Card of entity
    • Certificate of Incorporation /LLP Agreement or Partnership Deed/Shop Act registration
    • Address proof of Business
    • Board resolution/Letter of Authorised Signatory
    • KYC and photograph of Directors/Partners/Proprietor
    • Bank Statement/Cancelled cheque/Passbook
    • Valid Indian Mobile Number of Directors/Partners/Proprietor
    • E-mail ID of Directors/Partners/Proprietor
    • For Company and LLP DSC of Authorised signatory is required

The Process

  • 1
    GST Applicability

    GST Registration Applicability and necessity needs to be checked.

  • 2
    Share documents

    Arrange to provide documents and information as per the list provided

  • 3
    Generation of TRN

    Generation of TRN (Temporary Reference Number)

  • 4
    GST Certificate

    GST Registration certificate will be provided.

WHAT WE DELIVER

    • GST Certificate

Let's Start Now

LITE

499

  • GST Registration for a Single Entity

Basic

999

  • GST Registration +MSME Registration

Pro

1999

  • GST Registration +MSME Registration +1 Trademark application for one class

Answer to the Question Why us?

  • In-House
    Experienced
    Professionals
  • Compliance
    Tracking and
    Reminders
  • Regular
    Customer
    Education
  • Stellar
    Support and
    Response

Frequently Asked Questions (FAQ)

Every supplier shall be liable to be registered under GST in the state from where he makes taxable supply of goods and/or services if his aggregate turnover in a financial year exceeds INR 40 Lakh (for Northeast and Hilly state 20 Lakh)

Few category of taxpayers who need to take compulsory registration irrespective of their turn over

  1. A person making any inter-state taxable supply.
  2. Casual taxable persons.
  3. A person who is required to pay tax under reverse charge.
  4. Non-resident taxable person.
  5. A person who required deducting TDS u/s 37 of the Act.
  6. A person who supply goods and/or services on behalf of other registered taxable people whether as an agent or otherwise.
  7. Input Service Distributor.
  8. A person who supply goods and/or services, other than branded services, through electronic commerce operator.
  9. Electronic commerce operator.
  10. An aggregator who supplies services under his brand name or his trade name.
  11. Such other person or class of persons as may be notified

GST offers a whole bunch of Benefits to businesses

  1. Legal identification of supplier
  2. Entry into a more efficient and transparent taxation system in line with the international trend
  3. GST provides uniformity in tax rates throughout India. Thus making whole India as one market place
  4. Simpler and lesser number of Compliances as compared to the previous tax regime
  5. The supplier will receive seamless credit for their Inputs. Tax liability will be setoff with the credit hence less liquidity crunch.
  6. Composition scheme will help small business to grow by offering a competitive price and less compliance burden. Composition dealer only needs to pay tax on the concessional tax rate.

Small businesses having turnover less than *1.5 Crore can opt for Composition Scheme subject to conditions and restriction. A composition dealer cannot collect tax from the buyer and cannot claim input credit for inward supply.

Advantages

  1. Lesser Compliance – Composition dealers are required to file only a quarterly return and one annual return.
  2. Concessional rate of tax – Composition Dealer are required to pay tax at concessional rates
  3. Boost in liquidity- Since tax outflow is lower vs a normal tax payer, it increases the liquidity of business concern
  4. Higher margin – Composition dealer enjoys higher margin in products it makes him more competitive.

Disadvantage

  1. Limited Geographical area- Composition dealer is not allowed to make interstate sale. It limits their ability to sell.
  2. No input credit- Composition dealer cannot take input credit of supplies received.
  3. Prohibition of online sale- Composition dealer cannot sell their products online
  4. Composition dealer cannot deal with exempted goods.

Yes, if a person is having businesses in a different state, he needs to get separate registration for each state under the same PAN.

No, GST registration is valid for lifetime until canceled and no need to renew it every year.

Amendment in GST registration can be done online by login to the portal. There are two types of amendment in GST portal

  1. amendment in core fields
  2. amendments in non-core fields

No Taxpayers who registered themselves voluntary cannot apply for cancellation of GST. They can apply only after the expiry of one year.

GST has subsumed State VAT, Central Sales Tax , Luxury Tax, Entry Tax (all forms), Entertainment and Amusement Tax (except when levied by the local bodies), Taxes on advertisements, Purchase Tax, Taxes on lotteries, betting and gambling, State Surcharges, and Cesses so far as they relate to supply of goods and services. The main motive behind GST is to consolidate all indirect taxes into one.

In GST tax will be charged only on value addition and cascading effect will be removed by seamless credit.

What our customers have to say