All about GST Registration

 

What is GST Registration

In the GST Regime, businesses whose turnover exceeds Rs. 40 lakhs (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. This process of registration is called GST registration. The GST registration process can be completed within 6 working days. GST registration can be easily done on the online GST portal. Business owners can fill a form on the GST portal and submit the necessary documents for registration. Businesses must complete the GST registration process.

CBIC has notified the increase in threshold turnover from Rs 20 lakhs to Rs 40 lakhs. The notification will come into effect from 1st April 2019.

GST Registration is a process by which a taxpayer gets himself registered under GST. Once a business is successfully registered, a unique registration number is assigned to them known as the Goods and Services Tax Identification Number (GSTIN). This is a 15-digit number assigned by the central government after the taxpayers obtain registration.

Please note – If you are operating from more than one state, then you will have to take separate registration for each state you are operating from.

Now, you must be wondering if every business is required to register under GST? Let’s understand GST registration and its procedure in detail.

Who is eligible to register under GST?

    GST Registration must be completed by the following individuals and businesses:

    Individuals who have registered under the tax services before the GST law came into effect.

    Non-Resident Taxable Person and Casual Taxable Person

    Individuals who pay tax under the reverse charge mechanism

    All e-commerce aggregators

    Businesses that have a turnover that exceeds Rs.40 lakh. In the case of Uttarakhand, Himachal Pradesh, Jammu & Kashmir, and North-Eastern states, the turnover of the business should exceed Rs.10 lakh.

    Input service distributors and agents of a supplier

    Individuals who supply goods through an e-commerce aggregator.

    Individuals providing database access and online information from outside India to people who live in India other than those who are registered taxable persons.

    Any service provider

    TDS/TCS deductor

Types of GST Registration

Under the GST Act, GST Registration can be of various types. You must be aware of the different types of GST Registration before selecting the appropriate one. The different types of GST Registration are:

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