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GST act mandates that all of the entities involved in selling goods or providing services or both in India are mandatorily required to get themselves registered under GST when they cross a minimum threshold turnover limit. However, the turnover threshold limit does not apply to a non-resident person supplying goods or services in India.
“Non-resident taxable person” is a person who undertakes transactions occasionally which involves the supply of taxable goods or services or both, whether as a principal or an agent and does not have a fixed place of business or residence in India. This person has to mandatorily get himself registered under the GST act.
Also, a non-resident person supplying OIDAR services to an unregistered person in India is required to register under GST law.
The GST registration is valid for 3 months and if need arises can be extended further.
Yes, irrespective of a single transaction or multiple taxable transactions, every foreigner/ non-resident will mandatorily have to take the GST registration.
Advance payment of GST liability is like a secured deposit with the government which can be utilised to pay the actual tax liability. Every non-resident person seeking GST registration in India has to compulsorily make an advance payment of expected GST liability which will be adjusted with the actual tax liability at the end of the registration period. Any excess tax will be refunded back.
There are 4 GST types namely-
» Integrated Goods and Services Tax (IGST)
» State Goods and Services Tax (SGST)
» Central Goods and Services Tax (CGST)
» Union Territory Goods and Services Tax (UTGST)
ITC stands for Input Tax Credit. It is basically a credit that you can use to set off your GST liability. Whenever you purchase goods or services for your business from a GST registered person you are required to pay GST on the purchase to the supplier. You can claim the benefit of this GST payment by offsetting it against your GST liability on sales.
No, a person registered as Non-resident taxable person cannot claim Input tax credit on his purchases.
Yes, GST law grants you the freedom to opt for a GST Registration which is of a lesser period but it restricts the maximum period to 90 days. So, at the time of registering you can specify the number of days for which you require the GST registration certificate.
You can extend your GST Registration validity period by a maximum of 90 days.
Yes, GST act mandates to make an additional advance payment of GST liability at the time of sorting for an extension.
Final return has to be filed in GSTR Form 5 within 20 days from the end of the month or within 7 days from the end of the registration period, whichever is earlier.
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