GST Registration – Eligibility and Required Documents

GST is considered as the country’s greatest tax reform which is enormously responsible for improving business scenario as well as raising the taxpayer base simply by gathering a great number o small scale businesses in the country. By subsuming and abolishment of several taxes into one single system, complexities in taxes would get lessened while the base tax gets substantially increased. This new GST regime demands all the entities to acquire GST registration whether engaged in purchasing or selling goods, providing different services or doing both. Without this GST registration, entities would be unable to get hold of GST from a customer or would not be allowed to claim any input tax credit which is GST paid or in some worse situations can be penalized. In addition to this GST registration is obligatory as soon as an entity tends to cross the least threshold turnover.

GST Registration Eligibility

  • Turnover Criteria

GST registration is mandatory for those who are engaged in supplying services or goods along with a yearly aggregate turnover which is more than twenty lakhs.

  • Inter-State Supply

Entities undertaking inter-state supply of services and goods must get their GST registration done, regardless of aggregate yearly turnover.

  • E-Commerce Sellers

Entities engaged in goods and services’ supply through platforms of e-commerce mandatorily need to obtain GST registration, regardless of annual aggregate turnover.

  • Existing Taxpayers

Entities having VAT or service tax or central excise registration are required to get GST registration done. In addition, Provisional ID along with password is provided for completing the GST migration formality as well as generating GSTIN by particular tax departments.

  • Casual Taxable Persons

Entities who get involved in the occasional undertaking of goods and services’ supply, owning no fixed business place are known as the acasual taxable person. It is also mandatory for them to get registered for GST.

Documents required

  • PAN Card of the Business or Applicant

GSTN should be linked to PAN card to attain GST registration certificate.

  • Address and Identity Proof of Promoters

Such proofs include passport, Aadhar card, PAN card, driving license and Voter ID card which needs to be submitted.

  • Document of Business Registration

This includes partnership deed, incorporation certificate or any registration certificate which needs to be submitted.

  • Address Proof for Place of Business

Rental agreements along with electricity bill copies or current property tax receipts or acopy of municipal kata require submission.

  • Bank Account Proof

Scanned copy of the bank Passbook’s first page, thereby showing few of the transactions needs to be submitted.

  • Digital Signature

It is required for signing by the authorized signatory for submission of the GST registration application.

Entities eligible must get their GST registration done to experience better business transactions. One can take help of India Filings which offers great business services including GST registration within 5-10 days along with a free GST registration consultation and some more exclusive benefits.