GST Registrations
GST is a product of the biggest tax reform in India that has tremendously improved the ease of doing business and also increased the taxpayer base in India. In the GST Regime, businesses whose turnover exceeds Rs. 40 lakhs* (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. This process of registration is called GST registration.
For certain businesses, registration under GST is mandatory. If the organization carries on business without registering under GST, it will be an offence under GST and heavy penalties will apply.
Registration
Benefits
Benefits of
GST Registration
Credibility
If you are a registered individual or a business, then there will be natural trustworthiness towards you from consumers and suppliers. It shows that you are someone who can be trusted. A company or an individual that has all the legal documents and who are compliant with the rules and regulations create a positive impression.
Avoid Uneccessary Hurdles
There could be some hurdles you may face if you are not registered under GST. The way GST regime works is through a chain system. A product can be tracked from manufacturing to supplier to wholesaler to retailer, finally the consumer. Everyone would want to remain GST compliant to avoid any hurdles.
Legal Strength
If you are registered under GST and, if a business or an individual, for some reason, takes legal action against you, you will have legal strength to fight back or defend your position. Without the GST registration, you cannot be considered as a legitimate business, and it could work against you in the court of law. So, one must register its business with GST.
Avoid Penalties
The penalty for someone who is a taxable business or individual and chooses not to register under GST, then according to section 122 of the CGST Act, they can attract a penalty of Rs. 10,000 or the amount equivalent to the tax evaded or the tax liability whichever is higher. It also creates negative impression about your companies trustworthiness.
Losses
Authorities can confiscate your Goods if you are not registered under GST. According to Section 130 of the CGST/SGST Act, products become liable to be seized if a taxable business or individual is found to not registered under GST. In a corporation, when Goods are confiscated, then it could be a huge loss because there could be damage to the goods that are seized.
Business Shutdown
If you are not registered under GST, and if your goods are confiscated, or if there are hefty penalties levied on your business, then there might be the risk of shutting down the business. Because sometimes the seized products cannot be recovered. Sometimes the penalties that are charged might be more than the total value of profits. Hence, GST Registrations helps a lot.
Types of GST
SGST
GST is a product of the biggest tax reform in India that has tremendously improved the ease of doing business and also increased the taxpayer base in India by including millions of small businesses under one uniform tax system. The tax complexities have reduced considerably due to the introduction of GST in India.
CGST
GST is a product of the biggest tax reform in India that has tremendously improved the ease of doing business and also increased the taxpayer base in India by including millions of small businesses under one uniform tax system. The tax complexities have reduced considerably due to the introduction of GST in India.
IGST
GST is a product of the biggest tax reform in India that has tremendously improved the ease of doing business and also increased the taxpayer base in India by including millions of small businesses under one uniform tax system. The tax complexities have reduced considerably due to the introduction of GST in India.
UGST
The Union Territory Goods and Services Tax (UTGST) is levied by the respective Union Territories. They will be levied on the transactions undertaken by the Union territories of India. The Andaman and Nicobar Islands, Lakshadweep, Dadra and Nagar Haveli, Chandigarh, and Daman, and Diu are the Union Territories.
Our Services
Sole Proprietorship / Individual
- Name of Business
- Nature of Business
- Pan Card
- Aadhar Card
- Photgraph
- Bank Statement / Cancelled Cheque
- Office Address Proof
~ If Rented Premises – Valid Rent Agreement OR Copy of latest electricity bill
~ If Owned Premises – Copy of latest electricity bill OR Property tax paid receipt OR Municipal khata Copy
Partnership Firm
- Name of Business
- Nature of Business
- Pan Card of the Firm
- Partnership Deed
- Authorization Letter for Appointment of Authorized Signatory
- Pan Card of all Partners
- Aadhar Card of all Partners
- Photgraph of all Partners
- Bank Statement / Cancelled Cheque
- Office Address Proof
~ If Rented Premises – Valid Rent Agreement and NOC (No Objection Certificate) from the owner of the latest electricity bill
~ If Owned Premises – Copy of latest electricity bill OR Property tax paid receipt OR Municipal
Private Limited Company / One Person Company / Limited Liability Partnership
- Name of Business
- Nature of Business
- Pan Card of the Firm
- Certificate of Incorporation
- MOA and AOA of Company / LLP Deed
- Authorization Letter (Board Resolution) for Appointment of Authorized Signatory
- Pan Card of all Directors
- Aadhar Card of all Directors
- Photgraph of all Directors
- Bank Statement / Cancelled Cheque
- Office Address Proof
~ If Rented Premises – Valid Rent Agreement and NOC (No Objection Certificate) from the owner of the latest electricity bill
~ If Owned Premises – Copy of latest electricity bill OR Property tax paid receipt OR Municipal
Society or Club or Trust
- Name of Business
- Nature of Business
- Pan Card of the Society / Club / Trust
- Authorization Letter for Appointment of Authorized Signatory
- Pan Card of all Members / Trustee
- Aadhar Card of all Members / Trustee
- Photgraph of all Members / Trustee
- Bank Statement / Cancelled Cheque
- Office Address Proof
~ If Rented Premises – Valid Rent Agreement and NOC (No Objection Certificate) from the owner of the latest electricity bill
~ If Owned Premises – Copy of latest electricity bill OR Property tax paid receipt OR Municipal
Hindu Undivided Family (HUF)
- Name of Business
- Nature of Business
- Pan Card of the HUF
- HUF Deed
- Pan Card of Karta
- Aadhar Card of Karta
- Photgraph of Karta
- Bank Statement / Cancelled Cheque
- Office Address Proof
~ If Rented Premises – Valid Rent Agreement and NOC (No Objection Certificate) from the owner of the latest electricity bill
~ If Owned Premises – Copy of latest electricity bill OR Property tax paid receipt OR Municipal