GST (Goods and Services Tax) registration is a mandatory requirement for businesses
in India that are involved in the supply of goods or services.
Who Needs to Register for GST?
Businesses with Annual Turnover above ₹40 Lakhs: Businesses with an annual turnover
above ₹40 lakhs must register for GST.
Businesses with Annual Turnover above ₹20 Lakhs in Special Category States:
Businesses with an annual turnover above ₹20 lakhs in special category states must
register for GST.
Voluntary Registration: Businesses can opt for voluntary registration, even if their
turnover is below the threshold limit.
Adbantages of GST Registration
Legally Recognized as a Supplier of Goods or Services: GST registration provides
legal recognition as a supplier of goods or services.
Can Claim Input Tax Credit: GST-registered businesses can claim input tax credit on
purchases.
Can Issue Tax Invoices: GST-registered businesses can issue tax invoices to
customers.
Compliance with GST Laws: GST registration ensures compliance with GST laws and
regulations.
Documents Required for GST Registration
PAN Card: Permanent Account Number (PAN) card of the business.
Aadhaar Card: Aadhaar card of the proprietor/partners/directors.
Business Registration Certificate: Certificate of registration of the business.
Bank Account Details: Details of the business bank account.
Address Proof: Proof of the business address.
GST Registration Process
Online Registration: Register online on the GST portal (gst.gov.in).
Fill GST REG-01 Form: Fill the GST REG-01 form with required details.
Verify Email and Mobile Number: Verify email and mobile number through OTP.
Submit Application: Submit the application with required documents.
Receive GSTIN: Receive the Goods and Services Tax Identification Number (GSTIN).
GST Registration Fees
No Registration Fee: There is no registration fee for GST registration.
Late Fee: A late fee of ₹100 per day may be applicable for delayed registration.
GST Registration Timeline
Registration Process: The registration process typically takes 1- 2 weeks working
days.
GSTIN Issuance: The GSTIN is issued immediately after registration.
