What is GST Registration
Under the GST system, companies with turnover exceeding Rs. 40 lakhs * (Rs 10 lakhs for the NE and mountainous states) are required to register as a normal taxable person. This registration process is called GST registration.
For some businesses, registration for GST is mandatory. If the organization does business without registering for the GST, it will be a crime under the GST and heavy penalties will apply.
GST registration generally takes 2 to 6 business days and we will help you register for GST in 3 easy steps. CBIC reported an increase in the turnover threshold from Rs 20 lakhs to Rs 40 lakhs. The notification will take effect on April 1, 2019.
Who Should Register for GST?
- Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)
- Businesses with turnover above the threshold limit of Rs. 40 Lakhs* (Rs. 10 Lakhs for North-Eastern States, J&K, Himachal Pradesh and Uttarakhand)
- Casual taxable person / Non-Resident taxable person
- Agents of a supplier & Input service distributor
- Those paying tax under the reverse charge mechanism
- Person who supplies via e-commerce aggregator
- Every e-commerce aggregator
- Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person
What is Registration Process?
The Goods And Services Tax (GST) Registration services at Rifco Tax Consultants helps you to get your business GST registered and obtain your GSTIN.
Rifco Tax Consultants experts will guide you on the applicability and compliances under GST for your business and get your business registered under GST.
Documents Required for GST Registration
- PAN of the Applicant
- Aadhaar card
- Proof of business registration or Incorporation certificate
- Identity and Address proof of Promoters/Director with Photographs
- Address proof of the place of business
- Bank Account statement/Cancelled cheque
- Digital Signature
- Letter of Authorization/Board Resolution for Authorized Signatory
GST Registration Fees
GST Registration is a tedious 11 step process which involves submission of many business details and scanned documents. You can opt for Rifco Tax Consultants services where a GST Expert will assist you, end to end with GST Registration .
Penalty for not registering under GST
An offender not paying tax or making short payments (genuine errors) has to pay a penalty of 10% of the tax amount due subject to a minimum of Rs.10,000.The penalty will at 100% of the tax amount due when the offender has deliberately evaded paying taxes.
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