GST is a Single, Unified, Destination based Indirect Tax, Which Replaced many Indirect Taxes on the sale of Goods and Services like Value added Tax (VAT), Excise Duty, Service Tax, etc. Goods and Services Tax is applicable to the manufacture, sale and consumption of all goods and services in India. Goods and Services Tax(GST) Act Came into effect on 1st July, 2017.

Components of GST:

GST REGISTRATION:

GST Registration is the most important process of Goods and Services Tax 2017. This process is governed under Section 22 to 30 of the CGST Act 2017. Goods and Service Tax Law defines the GST Identification Number (GSTIN) which means obtaining a unique Registration number of an Entity from the Concerned Tax Authorities. GSTIN is required for the following Purposes:

  1. For Collection of Taxes on Behalf of the Government.
  2. To Avail Input Tax Credit for the Taxes Paid on Inward Supplies   

GSTIN is combine of 15 alpha numeric digits among which first two symbolizes the state code next 10 digit is PAN of entity, 13th digit is entity number of the same PAN holder in a state, next 14th digit is ‘Z’ and the last digit is check sum digit.

Conditions to Get GST Identification Number:

Minimum Requirement:

There is a Statutory Provision Under Section 22 of the CGST Act, 2017, according to this Section the Minimum Threshold Turnover for GST Registration is RS 40 Lakhs for Goods and RS 20 Lakhs for Services and for North-Eastern States or Hilly States like Himachal Pradesh, Sikkim etc., the minimum Threshold turnover is reduced to RS 20 Lakhs for Goods and RS 10 Lakhs for Services. If Annual Aggregate Turnover is more than the Threshold limit only then a person is liable for GST Registration.

LIST OF IMPORTANT DOCUMENTS REQUIRED FOR GST REGISTRATION:

FOR SOLE PROPRIETOR/INDIVIDUAL:

  • PAN Card of the Owner.
  • AADHAR Card of the Owner.
  • Photographs.
  • Bank Account Details.
  • Address Proof.

FOR PARTNERSHIP FIRM AND LLP:

  • PAN Card of Entity & all Partners.
  • Partnership Deed Copy.
  • Photographs of all Partners.
  • Address Proof of all Partners.
  • AADHAR Card and Appointment Proof of Authorized Signatory.
  • LLP Registration Certificate, Board Resolution LLP.
  • Bank Account Details.
  • Address Proof of Principal Place of Business.

FOR COMPANY (PUBLIC/PRIVATE):

  • PAN Card of a Company.
  • MOA and AOA (Memorandum and Article of Association.
  • Incorporation Certificate.
  • PAN Card and AADHAR Card of Authorized Signatory.
  • Photographs of Authorized Signatory and All Directors.
  • PAN Card and Address Proof of all Directors.
  • Address Proof of Principal Place of Business.
  • Any Proof of Appointment of Authorized Signatory /Board resolution appointing Authorized Signatory.

STEPS FOR GST REGISTRATION:    

  1. Application at GST Common Portal: First of all, the Applicant has to provide his Permanent Account Number, Mobile Number, e-mail address and Place of registration in Part A of Form GST REG-01 at the GST COMMON PORTAL.
  2. Submission of Documents: The Applicant has to submit the required documents in Part B of Form GST REG-01 using the Temporary Reference Number (TRN) at the common portal duly signed and verified with Digital Signature. Part B has 10 sections fill all these sections and submit the appropriate documents.
  3. Acknowledgment: In Form GST REG-02 a receipt of an application an acknowledgment is issued electronically to the Applicant.
  4. Business Details: Under the Business Details Section Trade name, Business constitution and District should be entered.
  5. Authorized Signatory: In this step Details of Authorized signatory should be enter.
  6. Principal Place of Business: Principal Place of Business which is the Primary Location of business with state where business is conducted or the address where the company book of account and document are stored should be entered.
  7. Details of Goods and Services: Details of goods and services along with the HSN codes or SAC for up to a maximum of 5 goods and 5 services on the top should be submitted. 
  8. Verification and Approval: After the submission of an application and documents an Officer shall examine the submitted documents and application within 3 Days and if same are found in order an Approval for the grant of registration is given to the Applicant.
  9. Issue of GST Registration Certificate: After the Verification and approval of the OFFICER a Certificate of Registration in Form GST REG-06 is issued to the applicant on the Common Portal and A GSTIN (Goods and Services Tax Identification Number) Assigned to the Applicant.

Under the Act the GST Registration Certificated is Duly Signed and Verified through electronic verification code by the Officer. There will not be any Physical Certificate issued by the GST Department.   

Indirect Taxation - Read More

GST registration - Read More 

Article written By

Manjeet Goswami a legal Intern at Corpzo