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Goods and Services Tax (GST) Compliance
GST Registration – Overview
Businesses must register as regular taxable persons under the Goods and Services Tax (GST) if their annual revenue exceeds the threshold limit of Rs. 40 lakhs (in case of goods), Rs. 20 lakhs (in case of services), or Rs. 10 lakhs, as applicable. GST registration is the term for it.
It is mandatory to generate the GSTIN if annual turnover exceeds the above prescribed limit. If the company conducts business without registering for GST, it is an offence and faces severe penalties.
It typically takes 4 to 6 working days to register for GST. In 3 simple steps, Team HT Corps can assist you in obtaining GST registration more quickly.
GST Services
GST Registration
GST Return Filing
GST Surrender/Cancel
GST Modification
Update
GST NIL Return Filing
GST Annual Filing
Documents required for GST registration
The following documents are required to register of GST (Goods and Service Tax)
- PAN of the Applicant(Proprietor)
- Aadhaar card
- Proof of business registration or Incorporation certificate
- Identity and Address proof of Promoters/Director with Photographs
- Address proof of the place of business
- Bank Account statement/Cancelled cheque
- Letter of Authorization/Board Resolution for Authorized Signatory
- Rent Agreement in case the PPOB(Principal Place of Business) is rented
Benefits of Having GST Number
- Become more competitive in Market
- Interstate trading is impossible without having a GST number. It is possible only after registering the business under GST.
- Expansion of business online
- You must acquire a GSTIN if you are willing to compete with big brands like Amazon, Flipkart, Shopify, Paytm on ecommerce platform or through your own website.
- Get Input Tax Credit
- If you have a GST Number, you can avail Input Tax Credit while filing for GST return.
- Interstate sales without restrictions
- You can sell your products in other states only after completing the registration for GST.