GST Registration in Chennai
In order for Indian businesses to comply with the regulations outlined in the Goods and Services Tax Act, they must first register for GST. For businesses to ensure compliance with tax regulations and enable seamless operations under the GST system, this procedure is required after they achieve the specified revenue level. To complete the registration procedure correctly, businesses need to submit crucial documents, including PAN, Aadhaar, proof of business registration, and bank account details.
Businesses await the processing of their GST registration after successfully submitting their application, which may entail further examination through an audit review. Following approval, the company is assigned a GST registration number and an effective date of registration, which signifies the beginning of GST collection and payment on taxable goods. In order to avoid penalties, businesses must adhere to the effective date of registration and refrain from charging or collecting GST prior to this date. All things considered, registering for GST is essential for businesses to operate effectively, claim input tax credits, increase their credibility, and guarantee seamless adherence to Indian GST regulations.
Advantages of GST Filings
- Simplified tax structure
- Transparency and efficiency
- Reduction in cascading taxes
- Boosts the economy
Requirements for New GST Registration
To obtain a new Goods and Services Tax (GST) registration in India, businesses must fulfill specific requirements set by the Goods and Services Tax Council. Below are the key eligibility criteria and documentation needed.
GST registration is crucial for businesses that cross certain turnover limits, deal with inter-state transactions, or operate as an e-commerce platform. The registration process is straightforward if you have the necessary documents. Always ensure that your business complies with the GST laws to avoid penalties and interest for non-compliance.
Eligibility Criteria for GST Registration
You are required to register for GST if any of the following applies to your business:
Aggregate Turnover: Your aggregate turnover exceeds the threshold limit for GST registration. The limit varies based on the type of business and location:
- Normal Taxpayer: Rs. 40 lakhs (Rs. 20 lakhs for special category states).
- Service Providers: Rs. 20 lakhs (Rs. 10 lakhs for special category states).
- E-commerce Operators: Required to register regardless of turnover.
- Casual Taxable Persons and Non-Resident Taxable Persons: Always required to register.
Inter-State Supply: If your business is making inter-state taxable supply (sales between states), you must register for GST, even if your turnover is below the threshold.
Voluntary Registration: Businesses can opt for GST registration even if their turnover is below the prescribed threshold.
E-commerce Sellers: If you are an e-commerce operator or are involved in supplying goods/services via an e-commerce platform, GST registration is mandatory.
Specified Professionals and Others: Persons making taxable supply of goods or services, whether or not their turnover exceeds the threshold, can be required to register, especially if they are involved in the supply of goods/services specified under GST laws (e.g., supply of branded services, input services)
Documents Required for GST Registration
To register for GST, the following documents are generally required:
PAN Card: The Permanent Account Number (PAN) of the business or individual (for proprietorship).
Proof of Business Registration or Incorporation: Depending on the nature of the business, this could be:
- Partnership Deed (for partnership firms).
- Certificate of Incorporation (for companies).
- Shop and Establishment Act Registration (for proprietorships, and small businesses).
- GST Registration of Parent Entity (if a branch of an already existing business).
Identity and Address Proof of Promoter(s)/Director(s):
- Aadhaar card, Passport, or Voter ID.
Business Address Proof:
- Rent agreement or property documents (like Sale Deed or Lease Deed).
- Recent utility bill (electricity/water bill) for the registered place of business.
Bank Account Details: A canceled cheque or a bank statement to confirm the business’s bank details.
Photographs: Passport-sized photos of the applicant or authorized signatory.
Authorized Signatory: If someone else is signing the application on behalf of the business, they will need to provide a valid authorization letter.
Other Documents: Specific businesses may require additional documents based on the nature of their operations, such as:
- Digital Signature Certificate (for companies and LLPs).
- Letter of Authorization or Board Resolution (for companies and LLPs).
GST Registration for Special Cases
For Non-Residents: Non-resident taxable persons must obtain GST registration if they make taxable supplies in India.
For Casual Taxable Persons: If you operate as a temporary business or provide services temporarily (e.g., organizing a short-term event), you need to apply for GST registration as a casual taxable person.
For E-commerce Operators: Even if your turnover is below the threshold, if you are an e-commerce operator (for instance, providing a platform for sellers to sell goods), you must register for GST.
GST Registration for Non-Residents
Non-resident taxable persons who do business in India (but do not have a permanent place of business here) must register for GST. For such entities:
- PAN not required: Non-residents can apply without a PAN card.
- They are required to provide their passport and other documents based on the nature of the business.
GST Registration for Online Businesses
For online businesses or e-commerce sellers:
- GST registration is mandatory if you are making inter-state sales or your turnover exceeds the prescribed threshold.
- You also need to comply with GST for e-commerce platforms where you sell, such as Amazon, Flipkart, etc.
GST Registration Cost
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GST Returns Filing Charges
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