GST Registration

Goods and Services Tax is a single tax combining VAT, CST, Service Tax, Excise duty, Entertainment Tax, etc., and has been applicable all over India since 1 July 2017. A rate of GST varies between 0% to 28%.

Registration of GST is mandatory if,

• Annual turnover exceeds Rs. 20 Lakhs (Rs. 10 Lakhs in case of North Eastern States)
• Sale of Goods or Services outside your own state (Inter-state)
• Running E-commerce Company

However, any business can take voluntary registration and claim input tax credit on purchases or services taken by filing a return. GST Registration process is online and gets a temporary registration number immediately on a successful application subject to verification by the department. The registration number gets permanent status along with a certificate within 15 working days.

Benefits of GST Registration:

• Claim Input Tax Credit (ITC) or Tax Refund: Only GST Registered entity can claim ITC or Tax Refund on goods purchased or services taken.
• Apply for Tender: If you are intending to apply for a tender, most companies and government departments ask for a GST Registration Certificate.
• Enhance Business: Generally, MNCs do not feel comfortable dealing with unregistered business entities due to the loss of ITC benefits.
• Formal Business: With GST Registration, you can do formal business in India without any restrictions and establish your credibility.
• Open Current Bank Account: Nowadays, banks generally ask for a GST registration number and certificate to open a current account.
• Sale out of the State: With GST Registration, you can sell or provide services in any state in India. Otherwise, your business will be restricted within the state.

GST Registration Documents: