GST Registration- Manoj Gurukul

According to GST rules, it is mandatory for a business that has a turnover of above Rs.40 lakh to register as a normal taxable entity. This is referred to as the GST registration process. The turnover is Rs.10 lakh for businesses that are present in hill states and North-Eastern states. The registration process can be completed within 6 working days. 

Types of GST Registration 

Under the GST Act, GST Registration can be of various types. It is vital that the taxpayer is aware of the different types of GST Registration and selects the appropriate one. The different types of GST Registration are mentioned below: 

• Normal Taxpayer: Most of the businesses in India fall under this category. The applicant need not provide any deposit in order to become a normal taxpayer. There is also no expiry date for taxpayers who fall under this category. 
• Casual Taxable Person: Individuals who wish to set up a seasonal shop or stall can opt for this category. An advance amount that is equal to the expected GST liability during the time the stall or seasonal shop is present must be deposited by the taxpayer. The duration of the GST Registration under this category is 3 months and it can be extended or renewed. 
• Composition Taxpayer: Taxpayers who wish to obtain the GST Composition Scheme can opt for this type of GST Registration. A flat GST rates must be deposited by taxpayers who opt for GST Registration under this category. Input tax credit cannot be obtained by taxpayers who come under this category. 
• Non-Resident Taxable Person: In case individuals live outside India, but supply goods to individuals who stay in India, must opt for this type of GST Registration. Similar to the Casual Taxable Person type of GST Registration, taxpayers must pay a deposit that is equal to the expected GST liability during the time the GST registration is active. The duration for this type of GST registration is usually 3 months, but it can be extended or renewed at the type of expiry. 
• Non-Resident Online Service Provider 
• Special Economic Zone Developer 
• GST TDS Deductor – Government Entities 
• UN Embassy/ Body/ other notified individuals 
• Special Economic Zone Unit 
• GST TDS Collector – E-commerce Companies 

Who should complete the GST Registration?

 GST Registration must be completed by the below-mentioned 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 are required to register for GST 
• Businesses who 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 who are providing database access and online information from outside India to people who live in India other than those who are registered taxable persons must complete GST Registration. 

What are the documents that are required to complete the GST Registration? 

The below-mentioned documents are required to complete the GST Registration: 

• Permanent Account Number (PAN) of the applicant 
• Aadhaar card of the applicant 
• The bank account statement of the applicant, as well as a cancelled cheque, must be submitted 
• The address proof where the business is located must be given 
• The Incorporation Certificate or the business registration proof must be submitted 
• The Digital Signature must be given 
• The Director’s or Promoter’s address proof and identity proof must be submitted along with their photographs. 
• The Authorized Signatory must receive the Letter of Authorization or Board Resolution. 

What is the penalty in case individuals or businesses do not complete GST Registration? 

In case the offender does not pay tax or makes a payment that is lesser than the amount that must be paid (due to genuine errors), the penalty that is levied is 10% of the tax amount that is due. However, the minimum penalty that must be paid is Rs.10,000. 

In case the offender does not complete the GST Registration on purpose and tries to evade tax, the penalty that is levied is 100% of the tax amount that is due.