GST Registraion

Goods and Service Tax (GST) is an indirect tax charged on the delivery of goods and services. For the entire country, it is one indirect tax. By abolishing and subsuming multiple taxes into a single system, tax complexities have been reduced while the tax base has increased substantially. All entities whether engaged in manufacturing, trading or providing services are required to get registered under GST mandatorily on fulfilling the turnover threshold.

GST Registration can be obtained voluntarily as well to claim various benefits viz. Improve the credibility of the business, claim Input Tax Credits (ITC), and many more. Without a GST registration, no entity is permitted to take GST from a customer or ask for an input tax credit of paid GST. GST is a PAN based registration. The total income is calculated depending on the PAN. Therefore, although a person may have several locations of business, it is calculated to reach the aggregate income.

Turnover Limit for GST Registration:

Category	service provider	Goods supplier
Normal Tax Payers	20 Lakh	40 Lakh
Special Category States	10 Lakh	20 Lakh

Special Category States:

Arunachal Pradesh, Assam, Jammu and Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh, and Uttarakhand are categorized as special category states under GST. Irrespective of the income limit, it is mandatorily to acquire a GST registration for entities like non-resident taxable people, casual taxable people, or people supplying through eCommerce operators.

After GST Registration Compliances:

Issuing invoice as per GST rules and regulations
Depositing GST with the Government
Filing of GST monthly returns
Maintaining all records for 8 years
Filing of annual return
Getting GST Audit conducted on crossing the turnover threshold

GST Registration takes around 5-7working days.

Legato corporates consultants LLP provide the most reasonable and competent services for GST Registration

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Procedure of IT filing

Select plan

The first step is the collection of all the necessary information you will need to file your ITR.

Obtain DSC

Obtaining Digital Signature Certificate (DSC) is the first step towards GST Registration for a few categories of Assessee. Two days are required to get a DSC.

HSN & SAC Codes

Depending on the products you deal in or the services you provide, we will figure out the SAC Codes or HSN necessary for your GST Registration.

GST Application

We will apply for the GST Registration of your business and give the ARN Number depending on the data and documents you provide.

Getting GSTIN

A Government Officer will give the GSTIN and GST Registration certificate once he/she verifies the application and documents that you have submitted.

Documentation Needed For Registration

For Sole Proprietorship

Self-Certified Copy of Proprietor’s PAN Card
One latest passport size photo
Aadhaar Card of Proprietor
Cancelled cheque of Current Account of Proprietorship*
Electricity Bill or Property Tax Receipt of Proprietor
Sale Deed/Rent Agreement/Consent Letter/NOC if the place of business is not owned by the proprietor

For Partnership Firm

Sale Deed/Rent Agreement/Consent Letter/NOC if the place of business is not owned by the proprietor
Copy of PAN Card of all the partners
Photo of the authorized partner
Cancelled cheque of the current account of the Partnership Firm*
Partnership Deed
Electricity bill or Property Tax Receipt as proof for the place of business
Sale Deed/Rent Agreement/Consent Letter/NOC

Private Limited Company/ Limited Liability Partnership/ Limited Company /One Person Company

Copy of PAN Card of LLP, Company, OPC certified by all the partners/directors
Copy of PAN Card of all the partners/directors
Photo of the authorized partner/director
Cancelled cheque of the Current Account of the LLP/Company/OPC
Certificate of Incorporation of the LLP/Company/OPC
MOA & AOA of the Company / the LLP Deed of LLP
Electricity Bill or Property tax receipt as a proof for the place of business
Sale Deed/Rent Agreement/Consent Letter/NOC
Valid Class II Digital Signature Certificate of the authorized partner/director
(if not opted for in package)

FAQ'S

Who can use ITR-5 form?

Firms must file ITR-5 - AOPs (Association of persons), LLPs (Limited Liability Partnerships), and BOIs (Body of Individuals), cooperative society, artificial juridical person, and local authority.

Who should not file ITR-5 form?

Taxpayers in the following categories do not need to file ITR-5: 1. Assesses who are required to file the return of income under section 139 i.e., trusts, political parties, institutions, colleges, etc. 2. Individuals, HUFs (Hindu Undivided Families), Companies.

What is the due date for ITR-5?

The due date for filing the income tax return is 31st August.

Who needs to register for GST?

Any supplier of goods is required to apply for GST registration provided he/she has an annual turnover of Rs. 40 lakh (For special category states, it is Rs. 20 lakhs). However, under certain specific conditions, a taxable person becomes liable to pay a GST even if the income is below the mentioned limit. People offering services must also get a GST registration, once the income exceeds Rs.20 lakhs (For special category states, it is Rs. 10 lakhs).

What are the GST rates?

GST structure is divided into 4 tiers. The rates are 5%, 12%, 18%, and 28%. A few products like luxury and demerit products also attract an additional cess.

Are there any GST exempt products?

GST is not applicable to alcohol for human consumption and specified petroleum products.

Is GST applicable to stock transfers?

Yes. Integrated GST (IGST) governed by the central government is applicable to stock transfers.

GST can be levied on the transaction of securities?

No. Purchase and sale of securities continue to be governed by Securities Transaction Tax

What is HSN Code and SAC Code?

Harmonized System of Nomenclature (HSN) code is used for the classification of goods. In the invoices, the taxpayers with a turnover between Rs. 1.5 crores and Rs. 5 crores use a 2-digit code. Taxpayers with a turnover above Rs. 5 crores, use a 4-digit code. Those with a turnover below Rs. 1.5 crores, do not need to use any HSN Code. Further, the services are categorized in the Services Accounting Code (SAC).

For how long is the GST Registration Number valid?

A GST certificate is provided for a lifetime of the business enterprise except if suspended canceled, surrendered, or revoked. However, certificates issued to a non-resident taxable person or casual taxable person have a validity period determined by the authorities.

What are taxable transactions under the GST Act?

The delivery of products and/or services, which includes all transactions like sale, barter, transfer, exchange, rental, lease, license, or disposal made or agreed to be made, for the consideration of taxable products or services, are considered as taxable transactions as per the GST Act.

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