GST Registration

Goods And Services Tax

The introduction of Goods and Services Tax (GST) in India has been a significant tax reform, and it has been around long enough that basic queries like “What is GST registration” are not desirable. It is mandatory for businesses to register under GST, and failure to do so can result in severe fines and penalties. The registration process enables you to collect GST from your customers, ensuring that you comply with the law. Therefore, it is crucial to register your business for GST and avoid any legal implications.

Types of GST

In India, there are three main types of GST:

Central GST (CGST)

The central government imposes the CGST on the supply of goods and/or services inside a state

State GST (SGST)

The state government imposes the SGST on goods that are purchased within its borders.

Integrated GST (IGST)

The central government imposes the IGST on imports and interstate trade. The central and state governments share tax revenue, the central government receives income from CGST and IGST while the state government receives income from SGST.

Benefits Of GST

• Bank Loans – Banks and NBFCs can utilize GST registration and return filing as evidence of business activity and a track record when making loans to companies. As a result, registering for GST might help you legalize your company and improve your prospects of getting credit. Supplier Onboarding – During the supplier onboarding process, many reputable businesses demand GST registration. Hence, registering for GST can increase your business’s chances.
• E-Commerce Businesses – Online sales through platforms like Amazon, Flipkart, Snapdeal, Zomato, Swiggy, and others require businesses to register for GST. Hence, in order to sell your goods or services online, you must register for GST.
• Input Tax Credit – Companies that have registered for GST are allowed to collect GST from their clients and deduct the obligation from GST taxes incurred when buying goods and services. Thus, gaining GST registration can enable you to reduce your tax liability and increase your profit margins.

Documents Required for GST Registration

• For Sole Proprietorship or Individual business :

1. Identity Proof: Aadhaar card, PAN card, and a recent photograph of the sole proprietor.
2. Bank Account Details: Bank statement or a canceled cheque to provide details of the bank account.
3. Own Office: Copy of electricity bill, water bill, landline bill, property tax receipt, or a copy of municipal khata if the office is owned by the proprietor.
4. Rented Office: Rent agreement and NOC (No Objection Certificate) from the owner if the office is rented by the proprietor.

• For Partnership or Limited Liability Partnership (LLP):

1. Identity Proof: Aadhaar card, PAN card, and recent photographs of all partners.
2. Bank Account Details: A copy of the canceled cheque or bank statement to provide details of the bank account.
3. Own Office: Copy of electricity bill, water bill, landline bill, a copy of municipal Khata, or property tax receipt if the office is owned by the partnership/LLP.
4. Rented Office: Rent agreement and NOC (No Objection Certificate) from the owner if the office is rented by the partnership/LLP.
5. LLP Agreement/Partnership Deed: This document outlines the structure and responsibilities of the partnership/LLP.
6. LLP Registration Certificate: Required only in the case of LLP registration.
7. Appointment Proof of Authorized Signatory: A letter of authorization for the appointed signatory of the partnership/LLP.
8. Copy of Board Resolution: A copy of the board resolution in the case of LLP registration.

• For Company (Public & Private):

1. Company’s PAN Card: A Permanent Account Number card issued to the Company by the Income Tax Department.
2. Certificate of Registration: A legal document that acknowledges the formation of the Company.
3. MOA and AOA: Memorandum of Association and Articles of Association that outline the Company’s objectives and rules for its operation.
4. Identity Proof: Aadhaar card, PAN card, and recent photographs of all Directors.
5. Bank Account Details: A bank statement or a canceled cheque to provide details of the Company’s bank account.
6. Own Office: Copy of electricity bill, water bill, landline bill, a copy of municipal khata, or property tax receipt if the office is owned by the Company.
7. Rented Office: Rent agreement and NOC (No Objection Certificate) from the owner if the office is rented by the Company.Appointment Proof of Authorized Signatory: A letter of authorization for the appointed signatory of the Company.

• For Hindu Undivided Family:

1. HUF’s PAN Card: A copy of the Permanent Account Number card issued to the HUF by the Income Tax Department.
2. Karta’s Aadhaar Card: The Aadhaar card of the Karta, who is the head of the HUF.
3. Photograph: Recent photograph of the Karta.
4. Own Office: Copy of electricity bill, water bill, landline bill, a copy of municipal khata, or property tax receipt if the office is owned by the HUF.
5. Rented Office: Rent agreement and NOC (No Objection Certificate) from the owner if the office is rented by the HUF.
6. Bank Account Details: A bank statement or a copy of a canceled cheque to provide details of the HUF’s bank account.

• For Society Club & Trust:

1. PAN Card of the Society/Club/Trust: A copy of the Permanent Account Number card issued to the entity by the Income Tax Department.
2. Certificate of Registration: The certificate of registration issued to the Society, Club, or Trust by the appropriate authority.
3. PAN Card and Photo of Promoter/Partners: PAN card and recent photograph of the Promoter or Partners involved in the entity.
4. Bank Account Details: A copy of the canceled cheque or bank statement to provide details of the entity’s bank account.
5. Own Office: Copy of electricity bill, water bill, landline bill, a copy of municipal khata, or property tax receipt if the entity owns the office.
6. Rented Office: Rent agreement and NOC (No Objection Certificate) from the owner if the office is rented by the entity.
7. Appointment Proof of Authorized Signatory: A letter of authorization to prove the appointment of the authorized signatory of the entity