GST registration

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What is GST?

Table Of Contents

An Overview

Related Read: An Overview On GST And 5 Ways GST Impacts Your Business

What Is GST Registration?

GST act mandates that all entities involved in selling goods or providing services or both are mandatorily required to get themselves registered under the GST only when the entity crosses a minimum threshold turnover limit or when an individual starts a new business that is expected to cross the prescribed turnover. Although a person can also voluntarily register itself under GST.

Registration of any business entity under the GST Law implies obtaining a unique number from the concerned tax authorities for the purpose of collecting taxes on behalf of the government and to avail Input tax credit for the taxes on his inward supplies.
Without registration, a person can neither collect taxes from his customers, nor claim any input tax credit of tax paid by him.

ICI GST Registration Infographic

Who all are required to register themselves under GST?

Criteria for Compulsory registration

You must register under GST if: Crosses aggregate turnover threshold in Previous F.Y. or in current year
Business Activity Aggregate Turnover (For Normal Category States) Aggregate Turnover (For Special Category States)
Dealing in Goods 40 Lakhs 20Lakhs(1) 10Lakhs(2)
Providing Services 20 Lakhs 10Lakhs(3)
Deals in both goods and services 20 Lakhs 10Lakhs(3)
(1) Special Category States – Arunachal Pradesh, Meghalaya, Sikkim, Uttarakhand, Puducherry, and Telangana (2) Special Category States – the States of Manipur, Mizoram, Nagaland, and Tripura (3) Special Category States – States of Manipur, Mizoram, Nagaland and Tripura Important Points to be Noted – Aggregate turnover is calculated on PAN India basis. This means that if you have two units in two different states, then the turnover of both the units will be added to calculate the threshold limit. Even if the entity has one branch in the special category states, then its overall limit will be the threshold limit applicable to that special category states on PAN India Basis. Obligation to pay taxes under the reverse charge mechanism (“RCM”) If a person is liable to pay tax under RCM, then the person has to compulsorily register under the GST irrespective of its turnover. RCM is a mechanism whereby the recipient of a product or service is required to pay taxes, not the provider of the product or service. E-commerce Operator(ECO) A person who manages or owns any electronic platform and provides the platform to sell products or services or both is known as an E-commerce operator (ECO) An ECO is mandatorily required to get himself registered if he is required to collect TCS as per section 52 or charge reverse charge under section 9(5), irrespective of the amount of turnover.

Tax collected at Source (‘TCS’)

Registration under GST is PAN-based. So, if the aggregate supply for all the entities under a single PAN exceeds the threshold Turnover limit, then all the business entities must be registered in each of these states or territories where they have a place of business. Unlike the service tax regime, the GST law does not have the facility of centralized registration for units across multiple states. If you register for GST, you will receive a 15-digit GST identification number and a certificate of registration. This GSTIN will be made available to applicants on a common GSTN portal. The first 2 digits of GSTIN are the state code, the next 10 digits are the corporate PAN, the next 2 digits are for the entity code, and the last digit is the checksum number. Registration under GST is not tax specific. That is, there is a single registration for all taxes, i.e. CGST, SGST / UTGST, IGST.
E-commerce supplier

Tax Deducted At Source (‘TDS’)

Types of GST Registration:

Category of Registered Person Rate of GST
Manufacturers, other than manufacturers of ice cream, pan masala and tobacco (0.5% + 0.5%) = 1% of the turnover in the State or Union Territory
Restaurant and Outdoor Catering Services (2.5% + 2.5%) = 5% of the turnover in the State or Union Territory
Any other supplier eligible for composition levy (0.5% + 0.5%) = 1% of the turnover of taxable supplies of goods and services in the State or Union Territory
Supplier of Services (3% + 3%) = 6% of the turnover in the State or Union Territory

Documents Required for GST registration

How can we Help you?

FAQs

Aggregate turnover is the total turnover/sales (which shall include all taxable, exempt, non-taxable, and exports of both goods and services) of all the business under the same PAN. However, GST Taxes are not included while calculating this amount.

There are four types of GST. That is, integrated tax on goods and services (IGST), state tax on goods and services (SGST), central tax on goods and services (CGST), and union tax on goods and services (UTGST).

» When the buyer and seller are in two different states, then such a supply is called Inter-state supply.

» When the buyer and seller are in the same state, then such a supply is called Intra-state supply.

When the supply of goods or services are made through an e-commerce operator and payments for such supplies are received by the e-commerce operator, then the e-commerce operator is obliged to collect an amount equal to 1% (0.5% CGST + 0.5% SGST) of the taxable supplies and deposit it with the government. The net amount is paid to the supplier, and the supplier can take credit for this TCS through the GST portal.

» Completely Online Process – No need to visit our office

» Online Document Submission & Application Tracking

» Secure GST Identification Number

» Dedicated manager for the end-to-end processing of GST registration

» CA Assisted GST Filing for all your GST needs

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