INDIRECT TAXACTION I (GST)

topic : Register under GST

Submitted to :
Manasa ma'am
Lecturer Department of PG Studies
G.F.G.C Koppa

Submitted by :
Ananya H.S
II M.com
G.F.G.C Koppa
 INTRODUCTION

GST registration is a process by which a tax payer gets himself registered under GST. Once a business is
successfully registered a unique registration number assigned by the central government after the tax
payers obtain registration.
 Who should register for GST ?

 individuals and businesses who where registered under pre-gst laws register under gst as well
Businesses that exceed a yearly turnover of RS 40 lakh (RS lakh for businesses in the north-eastern or hilly
areas) are eligible for gst registration online.
 any individual supplying product though an e-commerce aggregator
 e-commerce aggregator are liable to pay gst as well.
Non-resident and casual taxable person.
Individual paying taxes under a reverse charge mechanism are also eligible for new gst
 Important facts about GST registration

 Any business that has a turnover of over 20 lakh inr is required to register for gst .
 If you are a supplier of goods to more than one state you are required to register for gst in all the states you supply
goods
 There is no registration fee of gst
 Failing to file for gst will result in a fine of 10,000 inr or 10% of the due amount
 Advantages of GST registration

Legal recognition of a business.

Uniform accounting of taxes.
Business will be eligible to avail of several benefits under gst regime.

Legal authorization of collecting tax from sales made .

 Types of GST registration

 Normal taxpayers
 Casual taxable individual
 Non-resident taxable individual
 Document required for Registration of GST

 Pan card of business

 Proof of business registration or incorporation certificate
 Identity and address proof of promoters/director with photographs photographs
and address proof of persons in change
 The business address proof
 Bank account statements/cancelled cheque
 Aadhaar card (if applicable)
 Digital signature
 Letter of authorization/board resolution for authorized signature