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GST Registration Services
Welcome to My TaxPlan, your trusted partner for comprehensive tax consulting services. Simplify your Goods and Services Tax (GST) Registration process with our expert guidance. Our team ensures a hassle-free experience, providing you with all the necessary support to get your business GST-compliant swiftly and efficiently.
What is GST?
Goods and Services Tax (GST) is an indirect tax that has replaced many other indirect taxes in India. GST is applicable on the supply of goods and services, right from the manufacturer to the consumer. It is a multi-stage, destination-based tax levied on every value addition.
Why Register for GST?
- Legal Compliance: Mandatory for businesses with a turnover exceeding the prescribed threshold.
- Input Tax Credit: Avail input tax credit on purchases, reducing overall tax burden.
- Business Expansion: GST registration opens doors to inter-state trade without restrictions.
- Enhanced Credibility: Boosts your business’s credibility in the market.
Documents Required for GST Registration?
1. Proprietorship
– PAN Card of the proprietor
– Aadhaar Card of the proprietor
– Photograph of the proprietor (in JPEG format, maximum size – 100 KB)
– Bank account details (Copy of the first page of bank passbook or bank statement or cancelled cheque)
– Address proof of the principal place of business (electricity bill/landline bill/water bill)
2. Partnership Firm/LLP
– PAN Card of the firm
– Partnership deed
– PAN Card and Aadhaar Card of all partners
– Photograph of all partners (in JPEG format, maximum size – 100 KB)
– Bank account details (Copy of the first page of bank passbook or bank statement or cancelled cheque)
– Address proof of the principal place of business (electricity bill/landline bill/water bill)
3. Private Limited Company
– PAN Card of the company
– Certificate of Incorporation
– Memorandum/Articles of Association
– PAN Card and Aadhaar Card of all directors
– Photograph of all directors (in JPEG format, maximum size – 100 KB)
– Bank account details (Copy of the first page of bank passbook or bank statement or cancelled cheque)
– Address proof of the principal place of business (electricity bill/landline bill/water bill)
FAQ
Any business with an aggregate turnover exceeding ₹20 lakhs (₹10 lakhs for North-Eastern and special
category states) in a financial year must register for GST. Additionally, certain businesses, such as inter-
state suppliers, e-commerce operators, and agents of suppliers, must register regardless of their
turnover.
Once the application and all required documents are submitted, the GST registration process typically
takes between 2 to 6 working days. The process may be expedited if all documents are in order and no
additional information is requested by the GST officer.
– PAN Card of the business and its owner(s)
– Aadhaar Card of the owner(s)
– Proof of business registration or incorporation certificate
– Identity and address proof of promoters/directors with photographs
– Address proof of the business premises
– Bank account statement/cancelled cheque
– Digital Signature (DSC) in the case of companies and LLPs
Yes, a person can obtain multiple GST registrations if they operate in more than one state or if they have
multiple business verticals within a single state.
There is no government fee for GST registration. However, businesses may incur professional fees if they
choose to hire consultants or tax professionals to facilitate the registration process.
Failure to register for GST when required can lead to significant penalties. The penalty for not registering
is 10% of the tax amount due, subject to a minimum of ₹10,000. If the tax evasion is found to be
deliberate, the penalty can be 100% of the tax amount due.
Yes, GST registration can be cancelled by the taxpayer or by the GST officer under specific
circumstances, such as discontinuation of business, transfer of business, or changes in the business
structure. The taxpayer can apply for cancellation via the GST portal.
The composition scheme is designed for small taxpayers to make GST compliance easier. Businesses
with a turnover of up to ₹1.5 crore can opt for this scheme, which allows them to pay GST at a fixed rate
of turnover and file quarterly returns instead of monthly.
Yes, businesses with turnover below the threshold limit can voluntarily opt for GST registration.
Voluntary registration allows them to avail input tax credit and expand their business by supplying goods
and services across states without restrictions.
GST registration remains valid until it is surrendered or cancelled. There is no need for periodic renewal
of GST registration.
The late filing of GST returns attracts a late fee of ₹50 per day (₹25 CGST + ₹25 SGST) up to a maximum of ₹5,000. For nil returns, the late fee is ₹20 per day (₹10 CGST + ₹10 SGST).
You can track the status of your GST registration application on the GST portal using the ARN (Application Reference Number) provided after the submission of your application.