GST Registration
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End-to-End Assistance for GST registration and ensure to have harmonious process for Invoicing, E-invoicing and filing through software.
Corporate
- GST Registration
- GST Invoicing
- GST E-Invoicing
Non Corporate
- GST Registration
- GST Invoicing
- GST E-Invoicing
Offers and discounts
Get GST eInvoice with Input Tax Credit
Pricing Summary
Market Price :₹5,899
Bmcsindia: ₹2899 All Inclusive
₹2457 + ₹442 GST
You Save :₹3,000(51%)
Government Fee :Included
GST Registration
The Goods and Services Tax (GST) is indeed a significant indirect tax reform in India. It was introduced with the aim of simplifying the country's complex tax structure and creating a unified tax regime. The GST Act was passed by the Indian Parliament on March 29, 2017, and it came into effect on July 1, 2017.
Taxable person under GST
A 'taxable person' under the GST Act is a broad term that encompasses various entities and individuals engaged in business activities in India. These entities may include individuals, Hindu Undivided Families (HUF), companies, firms, Limited Liability Partnerships (LLPs), Association of Persons (AOP) or Body of Individuals (BOI), corporations, government companies, foreign corporations, co-operative societies, local authorities, government bodies, trusts, or artificial juridical persons. Essentially, any entity or individual involved in the supply of goods or services for consideration falls under the purview of the GST Act and is required to be registered if their turnover exceeds the prescribed threshold limits.
GST Registration Turnover Limit
GST registration is optional regardless of turnover, but it becomes obligatory when a person or entity surpasses a specified turnover threshold.
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 special category states, the GST turnover limit for service providers 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 mentioned conditions aren't met, suppliers of goods must register for GST when their turnover exceeds Rs. 20 lakhs, and in special category states, the threshold is Rs. 10 lakhs.
Special Category States: including Arunachal Pradesh, Assam, Jammu and Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh, and Uttarakhand, have lower GST turnover thresholds for businesses, promoting compliance and economic development in these regions.
Aggregate Turnover: The calculation of aggregate turnover for GST is comprehensive and includes all relevant factors. It is determined based on a PAN, meaning that even if an individual or entity has multiple places of business, all turnovers must be combined to arrive at the overall aggregate turnover. This approach ensures a comprehensive assessment of the taxable business activities.
Types of GST Registration
Different types of GST registration, such as regular, casual taxable persons, non-resident taxable persons, and eCommerce operators, exist. The latter three categories must register for GST regardless of their turnover, reflecting the diverse nature of their operations.
Casual Taxable Persons: Casual Taxable Persons, according to the GST Act, are individuals or entities that occasionally provide goods or services in a State or Union Territory where they lack a permanent place of business. This category includes those operating temporary businesses at events like fairs, exhibitions, or seasonal ventures, making them subject to GST registration.
Non-resident taxable persons (NRI) in the context of GST are individuals or entities that supply goods or services in India but lack a permanent place of business or residence within the country. This category includes foreign individuals, foreign businesses, or organizations supplying goods or services to India, all of whom are required to adhere to GST regulations in India.
E-Commerce Operators: An electronic commerce operator is defined as any person who owns, operates, or manages a digital or electronic platform for conducting electronic commerce. This means that anyone selling goods or services through the internet is considered an eCommerce operator and must register for GST, regardless of their business turnover.
What is GSTIN?
GSTIN, or Goods and Services Tax Identification Number, is a unique 15-character identifier issued to entities with GST registration. It's structured with the first two digits denoting the State Code and the subsequent 10 digits representing the PAN (Permanent Account Number) of the applicant. This system streamlines the identification of registered taxpayers across states.
Download GST Registration Certificate
The GST certificate is a mandatory document for individuals or entities registered under the Goods and Services Tax (GST) system. It should be prominently displayed at their place of business. To download the GST certificate, users can easily follow the process through the GST Portal by logging into their GST account, navigating to the User Services section, and then clicking on "View / Download Certificate" to obtain their GST registration certificate. This certificate is a crucial proof of GST registration and compliance for businesses operating under the GST regime.
Register for GST through bmcsindia
Bmcsindia is a service provider that offers assistance with the GST registration process in India. They claim to streamline the registration process, collecting necessary documents, and uploading the application into the GST Portal on your behalf. They suggest that you can obtain your GST registration within 3 to 7 working days, and the process is entirely online, eliminating the need to visit a physical office. Additionally, they offer access to their LEDGERS Platform for GST invoicing and return filing. This service aims to simplify the GST registration procedure for businesses in India.
Voluntary GST Registration
Certainly, any individual or entity that intends to supply goods or services can voluntarily opt for GST registration in India, regardless of their business turnover. Voluntary registration enables businesses to benefit from Input Tax Credit and issue GST-compliant bills to customers, which can enhance their competitiveness and compliance with the tax regulations.
Penalty for NOT Obtaining GST Registration.
It's essential for any individual or entity exceeding the aggregate turnover limit to secure GST registration within 30 days of becoming liable for it. Failure to do so or any delay can result in penalties, including a potential fine of Rs. 10,000, and it may also lead to the loss of input tax credit during the period of non-compliance. It's crucial to adhere to the GST registration requirements to avoid such consequences.
Documents Required for GST Registration
Sole proprietor / Individual
- PAN card of the owner
- PAN card of the owner
- Photograph of the owner (in JPEG format, maximum size – 100 KB)
- Bank account details*
- Address proof**
LLP and Partnership Firms
- PAN card of all partners (including managing partner and authorized signatory)
- Copy of partnership deed
- Photograph of all partners and authorised signatories (in JPEG format, maximum size – 100 KB)
- Address proof of partners (Passport, driving license, Voters identity card, Aadhar card etc.)
- Aadhar card of authorised signatory
- Proof of appointment of authorized signatory
- In the case of LLP, registration certificate / Board resolution of LLP
- Bank account details*
- Address proof of principal place of business
HUF
- PAN card of HUF
- PAN card and Aadhar card of Karta
- Photograph of the owner (in JPEG format, maximum size – 100 KB)
- Bank account details
- Address proof of principal place of business
Company (Public and Private) (Indian and foreign)
- PAN card of Company
- Certificate of incorporation given by Ministry of Corporate Affairs
- Memorandum of Association / Articles of Association
- PAN card and Aadhar card of authorized signatory. The authorised signatory must be an Indian even in case of foreign companies/branch registration
- PAN card and address proof of all directors of the Company
- Photograph of all directors and authorised signatory (in JPEG format, maximum size – 100 KB)
- Board resolution appointing authorised signatory / Any other proof of appointment of authorised signatory (in JPEG format / PDF format, maximum size – 100 KB)
- Bank account details
- Address proof of principal place of business
Benefits of GST Registration
The following are some of the advantages of GST registration:
Bank Loans: Indeed, GST registration and regular GST return filing provide evidence of a business's activities and establish a track record. This information is valuable for banks and Non-Banking Financial Companies (NBFCs) when considering loans for businesses. GST registration can enhance a business's credibility, formalize its operations, and increase its chances of securing credit from financial institutions.
Supplier Onboarding: Supplier onboarding with reputed companies often requires suppliers to have GST registration. Therefore, having GST registration can open up opportunities to secure contracts with established businesses, helping you expand your client base and grow your business. It's a key factor in building business relationships and participating in various supply chains.
For eCommerce businesses, having GST registration is typically a prerequisite to sell products or services online through various platforms like Amazon, Flipkart, Snapdeal, Zomato, Swiggy, and others. This registration is essential for complying with tax regulations and ensuring a seamless selling experience on these platforms.
Indeed, entities with GST registration can collect GST from customers and offset their liability by claiming Input Tax Credit (ITC) against GST taxes paid on their purchases of goods and services. This mechanism helps businesses reduce their tax liability, improve their margins, and save on taxes, making GST registration a beneficial choice for businesses in terms of tax optimization.
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Proprietorship vs Limited Liability Partnership (LLP) vs Company
| Features | Proprietorship | Partnership | LLP | Company |
|---|---|---|---|---|
| Definition | Unregistered type of business entity managed by one single person | A formal agreement between two or more parties to manage and operate a business | A Limited Liability Partnership is a hybrid combination having features similar to a partnership firm and liabilities similar to a company. | Registered type of entity with limited liability to the owners and shareholders |
| Ownership | Sole Ownership | Min 2 Partners Max 50 Partners | Designated Partners | Min 2 Shareholders Max 15 Directors Max 200 Shareholders 1 Director 1 Nominee Director |
| Registration Time | 7-9 working days | |||
| Promoter Liability | Unlimited Liability | Limited Liability | ||
| Documentation | Partnership Deed | LLP Deed Incorporation Certificate | ||
| Governance | – | Under Partnership Act | LLP Act, 2008 | Under Companies Act,2013 |
| Transferability | Non Transferable | Transferable if registered under ROF | Transferable | |
| Compliance Requirements | Income tax filing if turnover is more than Rs.2.5 lakhs | ITR 5 | ||
Frequently Asked Questions
BMCS India offers comprehensive business consultancy services, including strategy development, market research and analysis, financial advisory, operational optimization, and organizational transformation. We provide customized solutions to help businesses address challenges and achieve their growth objectives.
BMCS is the top most business management consultant all around the world. Our team of experienced consultants leverages industry knowledge, market insights, and proven methodologies to provide tailored solutions that align with your business goals. Whether you need assistance with market entry, strategic planning, process optimization, or talent management, we collaborate closely with you to understand your unique needs
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Yes, we can help your business expand internationally. Our team has experience and expertise in supporting companies with market entry strategies, feasibility studies, partner identification, and localization strategies in various global markets. We leverage our network of international partners to provide you with valuable insights and guidance throughout the expansion process.
To get started with BMCS India, simply reach out to us through our contact information on our website. We will be glad to schedule an initial consultation to understand your business requirements and discuss how our services can benefit you. From there, we will work together to develop a tailored plan to drive your business success.