GOODS AND SERVICE TAX REGISTRATION
PROCEDURE TO REGISTER FOR GST
LIST OF DOCUMENTS REQUIRED FOR REGISTRATION
FREQUENTLY ASKED QUESTIONS
What is the criteria for applying for GSTIN?/ What is the eligibility for GST registration?
- All those goods supplying business ventures who have an annual turnover that exceeds ₹ 40 lakh in a financial year need to register themselves as a normal taxable entity. Kindly note that this threshold is ₹20 lakh for Jammu and Kashmir, Himachal Pradesh, Uttarakhand and North eastern states of India.
- All those service providers whose annual turnover exceeds ₹20 lakh in a financial year are required to register for the GST as a normal taxable entity. For the special category states i.e. Jammu and Kashmir, Himachal Pradesh, Uttarakhand and North eastern states, the annual turnover limit is ₹10 lakh.
If a business/entity is operating in more than one state, do they need to register separately?
Yes, In the event of operation from more than one state, registration is required for each state where the business is under operation.
What is the penalty for not registering with GST?
Keep in mind that the GST registration is mandatory to any entity that is involved in commercialized business and as has already been listed, certain businesses have to register mandatorily and if they carry on operations without registration, they will be subjected to a heavy penalty. The penalty amounts to 10% of the payable tax amount up to a maximum of Rs. 10,000.
Is it mandatory to file GST Returns if there is no business?
If GSTIN has been taken, it is mandatory to file GST Returns irrespective whether there has been transactions or not. Non filing of returns lead to penalties starting at Rs 20 per day.
Is GST mandatory?
Following business/entities are required to register for GST compulsorily. Annual turnover is not considered in these cases.
- Any casual taxable person
- Any Input Service Distributor (ISD)
- Agents or suppliers of goods via an e-commerce portal
- Any online service provider
- Inter- State Goods and Services suppliers
- Any Non- resident taxable entity
- Those who are liable to pay tax due to the reverse charge mechanism.
- TDS/TCS deductor
- Online data access/ Retrieval service provider