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List of documents required for GST registration

Private Limited Company

  • Incorporation Certificate
  • Articles of Association, AOA
  • PAN Card -Company
  • Memorandum of Association, MOA
  • Resolution signed by board members
  • PAN, Aadhar & Photo of directors
  • Digital Signature

Individual/Proprietorship

  • PAN Card & Aadhar
  • Photograph
  • Electricity Bill
  • Rent/Lease Agreement
  • NOC -From Landlord
  • Name of the Firm

LLP

  • PAN Card of LLP
  • LLP Agreement
  • Partners’ names and address proof
  • Director’s Proof

Why you need GST Registration?

GST registration not only helps you in getting your business recognized as a legal registrant but also opens a number of opportunities for your business. Benefits to GST registered business at glance are as follows

Club Registration
  • Expand your business online :-  If you are planning to expand your business on E-commerce platforms or through your own website, you must need a GSTIN.
  • Can take input of tax credit:- Only Registered GST holders can avail the input of GST tax paid on their purchases goods & services.
  • Open Current Bank Account:- GST registration certificate can help you to open a current bank account. In case of sole proprietor business Banks does not open a current bank account in the name of business trade name.
  • Become competitive:- Since you carry valid tax registration, you will be more competitive amongst your competitors.
  • Apply Government Tenders:- Many government tenders require GSTIN to apply the tender.
  • Can sell all over India without any restrictions:- Without having GSTIN you cannot trade inter-state. This is possible only if you registered your business under GST.

What is GSTIN?

Business entities need to register under GST and obtain a unique 15-digit Goods and Services Tax Identification Number (GSTIN), Generated by the Government after you have successfully completed GST registration.

#First 2 digit show state code.
#Next 10 digit indicates PAN Number.
#Next 1 shows serial number of gst registration in a state.
#Last 2 digits are random.

Regular Vs. Composition Scheme

Composition SchemeRegular Scheme
ComplianceRelaxed Compliance in order to safeguard small businessmen.Normal compliance required.
GST Return FilingComposition taxpayers required to file quarterly return.Normal taxpayers required to file monthly return.
Input Tax CreditComposition taxpayers cannot avail Input tax credit benefit.Normal taxpayers can avail Input tax credit benefit.
Tax Invoice Composition taxpayers can not issue tax invoice to their customers.Normal taxpayers can issue tax invoice to their customers.
Tax RateComposition taxpayers need to pay nominal GST at a fixed rate of turnover, which is normally 1-5%.Tax rate for regular taxpayers goods and services, which is from 0-28%.

GST Return Filing

GST Return Filing is a return document that contains details of the income of the taxpayer. It has to be filed with the GST administrative authority. The document is used tax authorities to calculate the tax liability of a GST taxpayer. A GST Return Filing form has to include the following details.

  • Output GST (On sales)
  • Sales
  • Input tax credit (GST paid on purchases)
  • Purchases

For filing a GST Return, you need to have GST compliant sales and purchase invoices attached.

How Does GST Registration Work For You?

With annual turn over of 20 lacs/40 Lac/10 Lac (as the case applicable) would require the for GST registration and have a valid GST Number