GST in India

GST or the Goods and Service Tax is an indirect tax levied on the sale of all goods and services in India. GST was introduced by the government on July 1, 2017. GST has replaced all the different indirect taxes that were previously applicable to the manufacturing and sale of different goods and services. These obsolete taxes include the services tax, excise duty, additional customs duty, surcharges, VAT and Octroi.

Under the GST system, all businesses that buy or sell any goods or provides any services require to get GST registration. A business that does not get its GST number cannot claim Input Tax Credit and cannot collect tax from its customers. The business is liable to get GST registration done within 30 days from the date it becomes eligible to get registration done.

GST Registration In India

Documents required for Online GST Registration

  1. Passport-size photograph
  2. Copy of bank statement
  3. Address proof  like electricity bill or rental agreement
  4. NOC
  5. PAN Card
  6. MOA/AOA and Certificate of incorporation of company, in case of company
  7. Board resolution appointing authorized signatory for GST registration
  8. Digital Signature of authorized signatory or director

Process of GST Registration in India

Once the requisite documents are submitted, the GST application is prepared. The GST application is filed with the GST authority online for approval. Upon approval of the application and documents, the GST authority issues the GSTIN and GST Certificate.

FAQs

Which taxes have been replaced by GST?
GST has replaced the following taxes: 1. Service Tax 2. Countervailing Duty 3. Special Countervailing Duty 4. Value Added Tax (VAT) 5. Central Sales Tax (CST) 6. Octroi 7. Advertisement taxes 8. Taxes applicable on lotteries. 9. Central Excise Duty 10. Entertainment Tax 11. Entry Tax 12. Purchase Tax 13. Luxury Tax
What is GST Registration?
GST Registration is the process to get registered with the government authority for the issue of GSTIN and GST certificate.
What are the different tax rates under GST?
The different GST tax rates in India are 5%, 12%, 18% and 28% for different goods and services.
Which business needs to get GST registration?
All businesses that fall under any of the following criteria needs to get GST registration compulsorily: 1. If the business has an aggregate turnover of more than Rs. 20 lakhs. For dealers in North-Eastern states of India, GST is compulsory if the business has an aggregate turnover of more than Rs. 10 lakhs. 2. If the business is selling on any online platform. 3. If the business is engaged in inter-state supply of products or services.
On which goods GST is not applicable?
GST is not applicable on petrol, diesel, natural gas, crude oil and jet fuel.
What are IGST, CGST and SGST?
Central Goods and Service Tax or CGST is the central tax that goes directly to the centre. State Goods and Service Tax or SGST is the state tax that goes to the state in which the sale is conducted. Integrated Goods and Service Tax or IGST os the tax collected for any sale made between 2 states. The tax is collected by the centre and divided later between the states.
How much time does it take for GST registration?
A GST registration application is submitted in 1 day and then the government takes 3-5 days for processing the application and providing the GSTIN.
Do I need different GST registrations to deal in different states?
No, only one GST registration is needed to conduct business all across India.
Does GST Registration need renewal?
GST registration does not need renewal and is valid for a lifetime.
Can a GST registration be cancelled?
Yes, a GST registration can be cancelled. However, if the registration is done on voluntary basis, then you need to wait for 12 months from the date of registration to cancel the registration.