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GST REGISTRATION
What is GST Registration?
Under Goods And Services Tax (GST), businesses whose turnover exceeds the threshold limit of Rs.40 lakh or Rs.20 lakh or Rs.10 lakh as the case may be, must register as a normal taxable person. It is called GST registration.
For certain businesses, registration under GST is mandatory. If the organization carries on business without registering under GST, it is an offence under GST and heavy penalties will apply.
GST registration usually takes between 7-10 working days.
Who should obtain the GST registration?
- Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)
- Businesses with turnover above the threshold limit of Rs.40 lakh or Rs.20 lakh or Rs.10 lakh as the case may be
- Casual taxable person / Non-Resident taxable person
- Agents of a supplier & Input service distributor
- Those paying tax under the reverse charge mechanism
- A person who supplies via an e-commerce aggregator
- Every e-commerce aggregator
- Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person
Documents Required for GST Registration
- PAN of the Applicant
- 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
- Digital Signature
- Letter of Authorization/Board Resolution for Authorized Signatory
get expert advice
Our Gst experts will guide you on the applicability and compliances under GST for your business and get your business registered under GST.
GST RETURN
GST Return Filing
GST Return Filing
GST Return Filing
Entities have to file the GSTR-3B return every month providing details of sales and purchases made in a month. In addition to the GSTR-3B return, businesses registered under GST must file GSTR-1 returns. GSTR-1 return must be filed every month by businesses having an annual revenue of over Rs.1.5 crores. In case a business has a yearly revenue of less than Rs.1.5 crores, GST returns should be filed every quarter. Annual GST returns must also be filed by all entities in addition to the above.
GSTR 3B : Return in which summary of outward supplies along with input tax credit is declared and payment of tax is affected by the taxpayer. It has to be filed monthly irrespective of turnover.
GSTR 1 : Details of outward supplies of taxable goods and/or services affected. It is required to be filed monthly if turnover is more than 1.5 cr. Quarterly return to be filed for turnover below 1.5 cr.
GST Annual Return
GST Return Filing
GST Return Filing
There are three types of annual return filed as under :
GSTR-9 : All entities having GST registration are required to file GST annual return in form GSTR-9.
GST-9C : Form GSTR 9C is meant for filing the reconciliation statement of taxpayers pertaining to a particular financial year. The form is a statement of reconciliation between the Annual Returns in GSTR-9 and the figures mentioned in the Audited Financial Statements of the taxpayer.
GSTR-9A : GST registered taxpayers who have opted for the GST Composition Scheme under Goods and Services Tax (GST) are required to file GSTR-9A.
GST LUT FILING:
All registered tax payers who export the goods or services will now have to furnish Letter of Undertaking (LUT) in GST RFD-11 form on the common portal of GSTN in order to make exports without payment of IGST.
ITC REFUND PROCESS
GST AUDIT & ASSURANCE
GST AUDIT & ASSURANCE
The GST refund process requires the taxpayer to follow specific steps, submit documents and declaration if required, to the GST authorities for claiming a GST refund. The refunds under GST can be for the excess cash balance deposited in the electronic cash ledger or tax paid by mistake or the accumulated Input Tax Credit (ITC) which couldn’t be utilised for tax payments due to zero-rated sales or inverted tax structure.
GST AUDIT & ASSURANCE
GST AUDIT & ASSURANCE
GST AUDIT & ASSURANCE
Our experienced auditors will help you navigate GST audits and provide assurance services to ensure compliance and transparency.