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What is GST Registration?
In GST Registration, businesses whose turnover exceeds Rs.20 Lakhs*(Rs 10 Lakhs for NE and hill states) is necessary to register as a normal taxable person. This procedure of registration is called GST registration. GST Registration normally takes 7-8 working days. For certain businesses, registration under GST is essential. If an organization carries on businesses without registering themselves under the GST, it would be an offense under GST and the heavy penalties will be levied.
In how many parts GST is divided?
The GST is divided into three parts which are IGST, CGST, and SGST. In any case, if the sale of goods or services is interlinked between the two states or inter-state, IGST or Integrated GST is applicable. Or in case if the sale is within a state or intra-state, CGST (Central GST) and SGST (State GST) are applicable.
GST also has three tax parts such as a central component (Central Goods and Services Tax or CGST) and a state component (State Goods and Services Tax or SGST) where the center and state will gather all the entities which is when a transaction happens within a state.
Who should need GST Registration?
- All the individuals need to be register who have registered under the Pre-GST law (i.e, Excise, VAT, Service Tax, etc.)
- Businesses with turnover above the threshold limit of Rs 20 Lakhs*(Rs 10 Lakhs for North-Eastern States, Himachal Pradesh, J&K, and Uttarakhand)
- Non-Resident taxable person/casual taxable person
- Agents of the supplier and the input service distributor
- Those who are paying tax under the reverse charge mechanism
- A person who supplies through an e-commerce aggregator
- Every person supplying online information and database access or retrieve; services from a place outside India to the person in India, other than a registered taxable person.
What is GSTIN?
GSTIN is a kind of unique identification number which is provided to each GST taxpayer. To check the GSTIN number a person who has a GST number can log onto the GST portal.
What is GSTN (Goods and Services Tax Network)?
The Goods and Service Tax Network(GSTN) is a non-government, non-profit organization which control and manage the IT sector of GST Portal.. GSTN is a one-stop solution for all your indirect tax requirements. GSTN is responsible for handling the indirect Taxation platform for GST to assist you to prepare, file, rectify returns, and make payments of your indirect tax liabilities. The Government of India would use this portal to track each and every financial transaction in a detailed way. It will provide the taxpayers with the services of filling up taxes to registration and maintaining all tax-related details.
What is GST Return Filing?
A return is a document containing details of income that the taxpayer is necessary to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability.
Under GST, a registered dealer has to file the GST returns which include:-
- Sales
- Purchases
- Output GST(On Sales)
- Input tax credit(GST paid on purchase)
To file GST returns through sales and purchase invoices are mandatory.
Sample GST Certificate
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Why Choose EntrepreneurCell for your GST Registration?
EntrepreneurCell is the leading and trustworthy company which provides progressive services to get GST registration in very easy steps. We committed to providing the following strategies to every business owner are as follow:-
- Easy and simple to get GST Registration and GST Identification Number Online.
- Full and extensive support in filling up GST online application
- All the returns will be filed in a proper manner
- Restrain through the whole registration procedure
- Answer to all your questions and concerns.
These are some of our commitments join hands with us to know more about our services and and start your business in very less time through us.
Frequently Asked Questions
A. The Goods and Services Tax is a unified, multi-stage, and consumption-based tax collect on the supply of goods and services, which unite all stages such as manufacture, sale, and consumption of goods and services. It functions at a national level in the matter to restore most of the national and state tax systems like VAT, services tax, excise duty, etc.
A. An offender who is not paying tax or making short payments has to pay a penalty of 10% of the tax amount due to subject to a minimum of Rs.10,000. It will be 100% of the tax amount due when the offender has intentionally avoided paying taxes.
A. GST is required to obtain when your turnover exceeds the specified threshold limits.
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A. If you are a business owner which operates businesses from more than one state, the taxpayer must obtain a separate GST registration for each state.