Goods and Services Tax is a consolidated indirect tax policy that encompasses VAT, CST, Service Tax, Central Excise duty, Entertainment Tax, etc and is valid all over India with effect from 1st July 2017. Under the new GST regime, all entities involved in buying or selling goods or providing services or both are required to register for GST. Entities without GST registration would not be allowed to collect GST from a customer or claim an input tax credit of GST paid and/or could be penalised.
GST Turnover Limit
There are various types of GST registration and some types of entities like Interstate Suppliers of Taxable Goods , e-Commerce Operators or TCS Collectors ,casual taxable persons, Input Service Distributor, RCM (Reverse Charge Mechanism), non-resident taxable persons or persons supplying through e-Commerce operators are required to mandatorily obtain GST registration irrespective of turnover limit. The GST turnover limit for regular GST registration for service providers and goods supplier is provided below.
Service Providers: Any person or entity who provides service of more than Rs.20 lakhs in aggregate turnover in a year is required to obtain GST registration. In Arunachal Pradesh, Assam, Jammu and Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh and Uttarakhand, the GST turnover limit for service providers in these state has been fixed at Rs.10 lakhs.
Goods Suppliers: As per notification No.10/2019 any person who is engaged in the exclusive supply of goods whose aggregate turnover crosses Rs.40 lakhs in a year is required to obtain GST registration. To be eligible for the Rs.40 lakhs turnover limit, the supplier must satisfy the following conditions:
- Should not be providing any services.
- The supplier should not be engaged in making intra-state (supplying goods within the same state) supplies in the States of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Telangana, Tripur and Uttarakhand.
- Should not be involved in the supply of ice cream, pan masala or tobacco.
If the above conditions are not met, the supplier of goods would be required to obtain GST registration when the turnover crosses Rs.20 lakhs and Rs.10 lakhs in special category states.
Aggregate turnover is calculated based on the PAN. Hence, even if one person has multiple places of business, it must be summed to arrive at the aggregate turnover.
Aggregate Turnover: Aggregate turnover = (Taxable supplies + Exempt Supplies + Exports + Inter-State Supplies) – (Taxes + Value of Inward Supplies + Value of Supplies Taxable under Reverse Charge + Value of Non-Taxable Supplies).
GST Registration Pricing
Partnership
For Partnership / Limited Liability Partnership (LLP)- GST Registration
- Opening Bank Account
- 3 Months GST Filing
Proprietorship
For Individual / Sole Proprietorship / Hindu Undivided Family (HUF)- GST Registration
- Opening Bank Account
Company
For Pvt Ltd / Public Ltd / One Person Company- GST Registration
- Opening Bank Account
- 3 Months GST Filing
- GST Invoice Format
- HSN / SAC List
Documents Required for GST Registration
Partnership
- PAN card, Aadhaar card, Photograph of all partners.
-
Office address proof:
• Own Office – Copy of electricity bill/water bill/landline bill/ property tax receipt/a copy of municipal khata
• Rented office – Rent agreement and NOC (No objection certificate) from the owner - In case of LLP- Registration Certificate of the LLP, Copy of board resolution Appointment Proof of authorized signatory- letter of authorization
- Products/Services in which firm will deal
- Valid Mobile No
- Valid Mail id
- Details of Bank such as a copy of cancel cheque or bank statement, First page of passbook having name of applicant
Proprietorship
- PAN card of individual/ HUF, Aadhaar card of individual/ Karta, and a photograph of the sole proprietor/ Karta
-
Office address proof:
• Own Office – Copy of electricity bill/water bill/landline bill/ property tax receipt/a copy of municipal khata
• Rented office – Rent agreement and NOC (No objection certificate) from the owner - In case of LLP- Registration Certificate of the LLP, Copy of board resolution Appointment Proof of authorized signatory- letter of authorization
- Products/Services in which firm will deal
- Valid Mobile No
- Valid Mail id
- Details of Bank such as a copy of cancel cheque or bank statement, First page of passbook having name of applicant
Company
- Certificate of Registration
- Company's PAN Card
- Company's PAN Card
- Aadhar card, PAN card, a photograph of all Directors
-
Office address proof:
• Own Office – Copy of electricity bill/water bill/landline bill/ property tax receipt/a copy of municipal khata
• Rented office – Rent agreement and NOC (No objection certificate) from the owner - Appointment Proof of authorized signatory- letter of authorization
- Products/Services in which company will deal
- Valid Mobile No
- Valid Mail id
- Details of Bank such as a copy of cancel cheque or bank statement, First page of passbook having name of applicant