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GST Registration – Eligibility, Process and Expert Help
GST is the biggest tax reform in India, tremendously improving ease of doing business and increasing the taxpayer base in India by bringing in millions of small businesses in India. By abolishing and subsuming multiple taxes into a single system, tax complexities would be reduced while tax base is increased substantially. Under the new GST regime, all entities involved in buying or selling goods or providing services or both are required to register for GST. Entities without GST registration would not be allowed to collect GST from a customer or claim input tax credit of GST paid or could be penalised. Further, registration under GST is mandatory once an entity crosses the minimum threshold turnover of starts a new business that is expected to cross the prescribed turnover.
As per the GST Council, entities in special category states with an annual turnover of Rs.10 lakhs and above would be required to register under GST. All other entities in rest of India would be required to register for GST if annual turnover exceeds Rs.20 lakhs. There are also various other criteria’s, that could make an entity liable for obtaining GST registration – irrespective of annual sales turnover. Entities required to register for GST as per regulations must file for GST application within 30 days from the date on which the entity became liable for registration under GST.
Constitutional counsels is the leading business services platform in India, offering a variety of services like income tax filing, GST return filing, private limited company registration, trademark filing and more. Constitutional counsels can help you obtain GST registration in India and maintain GST compliance through a proprietary GST accounting software. The average time taken to obtain GST Certificate is about 5 – 10 working days, subject to government processing time and client document submission. Get a free consultation on GST and GST return filing by scheduling an appointment with an Constitutional Counsels Advisor.
GST Registration Eligibility Criteria
Documents Required for GST Registration
PAN Card of the Business or Applicant
GSTIN is linked to the PAN of the business. Hence, PAN is required to obtain GST certificate.
Identity and Address Proof of Promoters
Identity proof and address proof documents like PAN, passport, driving license, aadhaar card or voters identity card must be submitted for all the promoters.
Business Registration Document
Proof of business registration like incorporation certificate or partnership deed or registration certificate must be submitted for all types of registered entities.
Address Proof for Place of Business
Documents like rental agreement or sale deed along with copies of electricity bill or latest property tax receipt or municipal khata copy must be submitted for the address mentioned in the GST application.
Bank Account Proof
Scanned copy of the first page of bank passbook showing a few transaction and address of the business must be submitted for the bank account mentioned in the registration application.
We help Entrepreneurs start and operate successful businesses
Constitutionalcounsels.in is India’s largest online business services platform dedicated to helping people easily start and manage their business, at an affordable cost. Our aim is to help the entrepreneur on the legal and regulatory requirements, and be a partner throughout the business lifecycle, offering support at every stage to ensure the business remains compliant and continually growing.
Constitutionalcounsels.in partners with a network of experienced Chartered Accountants, Company Secretaries, Lawyers, Cost Accountants, Chartered Engineers, Ex-Bankers and Financial Experts across India to provide a comprehensive range of services for small and medium sized enterprises.
GST Return Filing
After obtaining GST registration, the entity will be required to file GST returns periodically. Failure to file GST returns will attract penalty. Entities with an annual turnover of more than Rs.1.5 crores (INR 15 Million) will have to file monthly GST returns. The three returns to be filed by normal taxpayers are GSTR-1 (details of outward supplies) on the 10th of each month, GSTR-2 (details of inward supplies) on the 15th of each month and GSTR-3 (monthly return) on the 25th of each month. The reduce the compliance burden of small businesses with a turnover of less than Rs.1.5 crores, the Government has announced quarterly returns commencing from the quarter starting in October.