Description

Goods and Services Tax (GST) Registration: A Comprehensive Guide

1. What is GST?

GST (Goods and Services Tax) is a unified indirect tax levied on the supply of goods and services in India. It replaces multiple taxes like VAT, excise, and service tax, streamlining tax compliance.

2. Who Needs to Register?

Mandatory Registration:

Businesses with aggregate turnover exceeding:

• ₹40 lakhs (for goods, ₹20 lakhs in some states).
• ₹20 lakhs (for services, ₹10 lakhs in special category states).

Regardless of turnover:

• E-commerce operators.
• Inter-state suppliers.
• Casual taxable persons (temporary businesses).
• Non-resident taxable persons.
• Businesses liable under reverse charge.

Voluntary Registration: Businesses below thresholds can register voluntarily to claim input tax credit (ITC).

3. Documents Required

• PAN of the business/individual.
• Proof of business registration (Only for Non-Individual e.g., Incorporation Certificate, Partnership Deed).
• Identity/address proof of promoters (Aadhaar, PAN, passport).
• Bank account details (cancelled cheque or statement).
• Business address proof (electricity bill, rent agreement).
• Digital signature (Only for companies/LLPs).