ONLINE GST REGISTRATION IN INDIA

Q. What is GST ?

GST stands for goods and service tax. it is an indirect tax which has to be collected from customers when you sell your goods or services and required to be submitted to the government

Q. When is GST registration mandatory?

It is mandatory to get GST registration under-

If your annual turnover exceeds INR 40 Lacs* or

If you are doing inter-state sales or

If you are selling products online through e-commerce portal or

If you are into the import or export business

If you want to raise a tax invoice for your customers

If business participating in exhibition/event outside the State as Casual Taxable Payer

*In case of North Eastern States, an annual turnover threshold limit is INR 20 Lakhs

Q. Can I be voluntarily registered under GST?

Yes, you can voluntarily get Registered under GST even if your annual turnover does not exceed the threshold limit (40/20 Lacs).

Registering under GST not only helps you in getting your business recognized as a legal registrant but also help you avail various benefits like avail to raise GST Invoice, avail input tax credit, and much more.

Q. When a business needs multiple GSTINs?

A business needs to get more than one GST number if,

A business entity is supplying goods & services from multiple States, then he/she mandatorily required to register under GST in different States.

Further, any business entity can get multiple GSTIN even if they are operating from a single State under multiple verticals to avoid accounting complexity between multiple businesses.

Illustration

XYZ Private Limited doing the business of selling merchandise and also doing the business of selling software from Bangalore only. Still, a company can apply for multiple GST numbers for their different business domain.

If you are supplying goods and services from one state to all over India. You do not need multiple GST Certificates.

Q. Is there any penalty for not registering under GST?

If any business entity mandatorily required to register under GST, however, failed to apply or intentionally ignoring the same then business is liable to pay the penalty of 100% of the tax due or INR. 10,000 whichever is higher

Q. What are the details and documents required for GST registration?

The documents required depends upon the type of business you are running as. Following below documents required for GST Registration: –

Passport Size Photograph

Aadhar card or Passport or Driving License

Pan card of business entity

Address proof of business premises 

Bank Statement or Cancel cheque or Passbook

ADDITIONAL DOCUMENTS FOR PRIVATE LIMITED COMPANY /LLP /OPC / PARTNERSHIP FIRM

Certificate of Incorporation in case of Company, OPC or LLP

Partnership Deed in case of partnership firm

Q. What is GSTIN?

GSTIN stands for Goods and Service Tax Identification Number consists of 15 digits. This will be get generated from government end when you have successfully applied for GST registration.

First 2 digit denotes represent State in which business registered under GST

Next 10 Digits denotes PAN of business entity

13th digit denotes the number of business located in the same state

Last two digits are randomly generated.

Q. How much GST rate will apply to my business?

GST rate varies from nature of goods/services you are selling; it ranges from 0% to 28%. To find out GST rate on your business download our GST guide from above 

Q. Can I sell both Goods and Services with one GSTIN?

Yes, you can sell both Goods and Services with one GST number, Provided you have listed such Goods/Services while registering under GST.

Q. Can i apply GST on our firm name?

Yes, in case of individual/sole proprietorship you are free to apply for GST registration on your firm name. Further, you can apply on your personal name as well. 

Q. Can I get a GST certificate on my home address?

Sure why not, you can start a business from your home. You just need to provide proof of your residential address for getting registered for GST.

Q. What to do after getting GST number?

This is the most common question business doers are facing these days i.e. what are the compliances after obtaining GST certificate?

Following things, you must do after obtaining GSTIN Number:

1. Affix GST Certificate within your business premises.

2. Issue GST compliant Invoice.

Sign up for FREE Instabill GST Invoice Billing Software or Download Android Mobile App.

3. Timely file your GST Return.

Q. Do i have to charge any tax from the customers, if my turnover is not exceeding 40 lakh?

Yes, from the very moment you obtain GST registration certificate, you need to charge GST tax from your customers on every sale.

Don’t know how to charge gst tax from customers?

Sign up  Instabill GST Invoice Billing Software for FREE.

Q. If I am selling my goods all over India, do i need to apply GST Registration for all states?

No, you need single GST registration if you are supplying goods from single state to all over India. If you are supplying goods from 2 or more states then you require registering under GST of all such states. 

Q. What is the procedure to migrate from the service tax account to GST registration?

The process of converting from the old service account to GSTN through GST registration is as follows-

#1.Login to CBIC Portal.

#2.Receive the Provisional id and password.

#3. Create the new user id and password on the GST portal.

#4. Enter all your business details along with the promoter details and the business address, Bank details and upload the required documents on the GST portal.

#5. Finally, verify with the DSC or Aadhar generated EVC.

Q. What is GST Composition Scheme?

GST Composition Scheme is an easy scheme made for the small taxpayers to reduce the compliance burden. Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover.Any business having an annual turnover less than ₹2 Crore* can opt for composition scheme under GST registration application.

*For Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura, Sikkim and Himachal Pradesh the above threshold limit is ₹1 Crore.

Q. What are Benefit of GST Composition Scheme?

Advantages of GST Composition scheme

Need to file a single quarterly return. Four returns in a year

Limited compliances

Less tax liability

Pay small amount of tax on turnover (1% for traders & 5% for restaurant)

Not require maintaining detailed records

Can provide auxiliary services up to ₹ 5 lakhs annually under the composition scheme.

Disadvantages of GST Composition scheme

Cannot avail input tax credit of purchases made

Cannot issue tax invoice

Cannot charge composition tax on invoice from customer as usual practice in case of normal GST scheme

Q. Who can NOT opt for composition scheme?

If Annual turnover exceeds ₹ 1.5 Crore

If you involved in Inter-State supplies

All Service Sector Business except restaurant

Importer of goods & services

E-commerce sellers

Supplier of non-taxable goods

Manufacturer of Notified Goods

Relaxation announced on GST Composition Scheme on 23rd GST Council Meeting held.

Q. What is ARN in GST Registration ?

ARN stands for Application Reference Number. It is the conclusive proof of successful submission of the application to the GST servers. It is generated after the TRN (Temporary Reference Number) & uploading of requisite documents

Q. What is Principal Place of Business?

Principal Place of Business is the primary location within the State where a taxpayer’s business is performed. The principal place of business is generally where the business’s books of accounts and records are kept and is often where the head of the firm or at least top management is located..

Q. What are HSN and SAC code in GST Registration?

HSN stands for Harmonized System of Nomenclature which is internationally accepted product coding system to maintain uniformity in the classification of goods. Service Accounting Codes (SAC) are adopted by the Central Board of Excise and Customs (CBEC) for identification of the services

Q. Can I make changes in my firm’s or company’s Name, State Name and PAN in the enrollment application?

No, In case of private limited company, LLP, OPC, and partnership firm you can not change the name and other details however in case of sole proprietorship firm it is possible to change the business trade name 

Q. Is Digital Signature Required for GST registration?

Yes, Digital Signature Certificate is required if you are Private limited, Public limited, LLP or One Person Company 

Q. Do you provide this service in my town?

Yes IdeatoStart is an online platform serving all over India no matters wherever you are doing business all you need is internet connection on your mobile or desktop and we are ready to get your job done

Q. Do I need to physically present for the process?

No, You don’t need to be physically present for the process, Incorpadvisor is an online catering platform all you need is internet connection  in your phone/computer and the required documents with you and we can get the job done no matters even if you are present at remotest location of the India