-
![instabill]()
Instabill - GST Invoice, Payment & Inventory Software
Download for FREE |
- Offers
| - Learning Resources |
- LOGIN/SIGN UP |
- 8881069069
| Apply for New GST Registration Online in a Day with Expert Assistance. We help you in opening a business current bank account, provide GST Billing software, pay GST taxes, and GST Returns filing. We will send you GST updates and due date reminders on a regular basis.
Providing business banking solutions in association with ICICI Bank
Facilitating Neo Banking Solutions & Corporate Credit Card to Startups
Trusted by Axis bank to cater its clients all licensing & compliance needs
Providing lending solutions for business needs with NeoGrowth
# Concept:- Goods and Services Tax is a consolidated indirect tax policy that encompasses VAT, CST, Service Tax, Central Excise duty, Entertainment Tax, etc and is valid all over India with effect from 1st July 2017.
# When to register for GST:- Mandatory to get GST Registration when annual turnover exceeds INR 40/20 lakh or supply goods and services inter-state or through E-commerce platform.
# What are the GST tax rates:- Tax rates vary from 0% to 28% depending on the type of goods & nature of the services you are selling.
# Input Tax Credit Availment:- Only business units registered under GST can avail credit of tax paid at the time of purchase while filing GST returns.
# Return Filing & Payment:- Every GST registrant requires to file three monthly/quarterly returns and One annual return. Requires paying tax every month.
# Composition Scheme:- Business units having an annual turnover less than INR 1.5 crore may opt the scheme. Requires to pay subsidize tax ranges from 1% to 5% & file quarterly returns.
Watch the interactive video to
learn all about GST Registration
#Turnover Criteria:- All taxpayers who have an annual turnover above 40 lakhs are required to get new GST registration. For Service supply, Turnover limit is 20 lakhs.
#Causal taxpayer:- If you supply goods or services in events/exhibitions where you do not have a permanent place of business, you need to get online registration for GST before starting a business. Such a dealer has to pay GST on the basis of an estimated turnover of 90 days. The validity of causal GST Registration is 90 days.
#NRI taxpayer:- NRI taxpayer, who does not have a place of business in India, wishes to start a business, then he has to apply for GST Registration in India before beginning operations in India. The validity of a new registration under GST is 90 days.
#Agents of a supplier & Input service distributor:- All Input service distributor who wants carry-forward benefit of input tax credit requires gst registration.
#Reverse Charge:- A business who requires to pay tax under the reverse charge mechanism must also get registered under GST.
#E-Commerce portal:- Every e-commerce portal (such as Amazon or Flipkart) under which multiple vendors selling their product requires to be enrolled under GST.
#Inter state supply:- Businesses who engage in supply of goods or services outside its state boundaries must get registered with the GST Department. Such businesses are subject to Integrated Goods and Services Tax (IGST), which is charged on the supply of goods or services from one state to another.
#Export:- Exports are Zero Rated Supply in India and therefore, businesses engaged in export must get registered under GST in India.
GST registration not only helps you in getting your business recognized as a legal registrant but also opens a number of opportunities for your business. Benefits to GST registered business at glance are as follows:-
#Become more competitive:- You will be more competitive in comparison to your unregistered competitors since you will carry valid tax registration.
#Expand your business Online:- You cannot sell products or services on E-commerce platform without GST registration. If you're planning to give a blow on E-commerce platform like Flipkart, Amazon, Paytm, Shopify or through your own website, you must need a GSTIN.
#Can take input tax credit:- Only Registered GST holders can avail input of GST tax paid on their purchases and save the cost.
#Can sell all over India without any restrictions:- Without having GSTIN you cannot trade inter-state. This is possible only if you registered your business under GST.
#Apply Government Tenders:- Various government tenders requires GSTIN to apply tender. If you don't have, you may miss the business opportunity.
#Open Current Bank Account:- Especially, in case of sole proprietor business Banks & Financial Institution does not open a current bank account in the name of business trade name unless you carry any government proof in the name of your business. GST registration certificate can help you to open a current bank account.
#Dealing with MNCs:- Generally, MNC does not get comfortable to deal with small business entities until they carry valid tax registration proof.
YOU ARE SUBSCRIBING TO OUR NEWSLETTERS
GSTIN is an abbreviation for Goods and Service Tax Identification Number. It consists 15 alphanumeric digits. This is generated by the Government after you have successfully completed GST registration.
#First 2 digit show state code.
#Next 10 digit indicates PAN Number.
#Next 1 shows serial number of gst registration in a state.
#Last 2 digits are random.
After OPC Registration, No need to rush at bank branch offices to open a company current bank account. We will help you to open an account in ICICI Bank while you sit at your place.
With the help of Instabill Mobile App, connect your ICICI Bank current account and do seamless bank accounting, download bank statements and check bank balance in one click.
GST Composition Scheme is for the small taxpayers, which is framed to reduce the tax compliance burden. Small taxpayers need not to file monthly GST returns and they need to pay nominal GST at a fixed rate of turnover. Any business having an annual turnover up to 1.5 Crore can opt for GST registration under composition scheme.
KNOW MORE ABOUT GST COMPOSITION SCHEME
| Composition Scheme | Regular Scheme | |
|---|---|---|
| Compliance | Relaxed Compliance in order to safeguard small businessmen. | Normal compliance required. |
| Tax Rate | Composition taxpayers need to pay nominal GST at a fixed rate of turnover, which is normally 1-5%. | Tax rate for regular taxpayers goods and services, which is from 0-28%. |
| Input Tax Credit | Composition taxpayers cannot avail Input tax credit benefit. | Normal taxpayers can avail Input tax credit benefit. |
| GST Return Filing | Composition taxpayers required to file quarterly return. | Normal taxpayers required to file monthly return. |
| Tax Invoice | Composition taxpayers can not issue tax invoice to their customers. | Normal taxpayers can issue tax invoice to their customers. |
#1. Validating the legitimacy of a business and granting legal authorization to operate
#2. Enhancing the business's credibility with customers, suppliers, and financial institutions
#3. Allowing businesses to claim input tax credit on purchases of goods and services utilized for business purposes, thereby reducing their overall tax liability
#4. Simplifying the compliance process by eliminating the need for multiple registrations and reducing compliance costs
#5. Allowing businesses to broaden their market reach by selling goods and services across India without any limitations on inter-state movement
#6. Providing a competitive edge to businesses by lowering their tax burden, enabling them to offer goods and services at a lower cost compared to their competitors
#7. Simplifying the tax structure and compliance burden, making it easier for businesses to operate
#8. Providing legal protection to businesses by enabling them to take legal action against customers or suppliers in case of non-payment or non-compliance.
In accordance with section 122 of the CGST Act, the penalty for not obtaining GST registration in India within time is INR 10,000/- or 10% of tax due from the supply made, whichever is higher. In addition to the penalty, businesses shall be required to pay GST on the supply made along with the interest whether he has collected GST from their customer or not.
Furthermore, not having GST Registration can result in:
#1. Goods and vehicles may be held in detention.
#2. Goods and vehicles may be confiscated.
#3. The person or supplier would not be eligible to claim input tax credit.
#4. The person or supplier would be unable to transfer the input tax credit.
Provide the required business details and information to our web portal.
Choose a package and pay online with different payment modes available.
On placing an order, your application will be assigned to one of our dedicated professionals.
Our professional shall carefully examine the correctness & accuracy of the documents and file GST application form.
Our professional shall make regular follow up with Government department for processing of GST application online.
On obtaining GSTIN, we will provide GST certificate along with several eGuides on GST and GST Invoicing Software.
#1. Visit the GST portal at www.gst.gov.in
#2. Click on the Services tab and select the Registration option.
#3. Click on the Track Application Status option.
#4. Enter the ARN (Application Reference Number) received while filing the GST registration application.
#5. Enter the captcha code shown on the screen.
#6. Click on the Search button to check the application status.
#7. The status of the application will be displayed on the screen. It may show one of the following status:
- Submitted
- Pending for verification
- Pending for clarification
- Rejected
- Approved
#8. If the application is rejected, the reason for rejection will also be mentioned.
#9. If the status is pending for clarification, the applicant needs to provide the required information and submit the application again.
#10. Once the application is approved, the applicant will receive the GST registration certificate.
#1. Visit the GST portal at www.gst.gov.in
#2. Click on the Services tab and select the Registration option.
#3. Click on the Download Certificate option.
#4. Enter the ARN (Application Reference Number) received while filing the GST registration application.
#5. Enter the captcha code shown on the screen.
#6. Click on the Download button to download the certificate.
#7. The GST registration certificate will be downloaded in PDF format.
1. PAN Card of the Business or Applicant:- GSTIN is linked to the PAN of the business. Hence, PAN is required to obtain GST certificate.
2. Identity and Address Proof of Promoters:- documents like PAN, passport, driving license, aadhaar card or voters identity card must be submitted for all the promoters.
3. Address Proof for Place of Business:- Documents like rental agreement or sale deed along with copies of electricity bill or latest property tax receipt or municipal khata copy must be submitted for the address mentioned in the GST application.
4. Bank Account Proof:- Scanned copy of the first page of bank passbook showing a few transaction and address of the business must be submitted for the bank account mentioned in the registration application.
GST registration is a process in which a business obtains a unique identification number to comply with the Goods and Services Tax (GST) regulations in India. It is mandatory to get registered under GST and obtain the GST Registration Certificate to avail the GST benefits and comply with tax regulations in India.
GST registration is mandatory for businesses whose annual turnover exceeds a certain threshold limit. It allows businesses to collect and remit GST to the government.
Know more:
Any business or individual who supplies goods or services and has an annual turnover above the threshold limit of Rs. 40 lakhs (Rs. 20 lakhs for special category states) is required to register for GST. Furthermore, there are certain eligibility criterias for which you must get GST Registration Online.
Read our detailed post to know more:
To apply for GST registration online, you need to make an online application to the GST Department on GST Portal.
The documents required for GST registration include PAN card, Aadhaar card, bank account details, proof of business registration, and address proof. Consult our GST Registration Experts at 8881-069-069 for understanding document requirements and preparation easily. You can also read this post: List of Documents Required for GST Registration in India
GST rates vary depending on the type of goods or services provided. The GST Council has fixed tax rates of 0%, 5%, 12%, 18%, and 28%. You can find out the GST Rates applying to your business through contacting our GST experts at 8881-069-069 or write to us at [email protected]
No, physical presence is not required for GST registration. You can complete the process online with the assistance of our experts.
GST registration allows businesses to claim input tax credit, enhances business credibility, and expands market reach. It also simplifies the tax compliance process and reduces the cascading effect of taxes. To understand in detail, read: What are the benefits of GST registration under law
Yes, E-StartupIndia provides GST registration services online across the globe. Whether you're in a bustling city or a small town, as long as you have an internet connection, you can easily avail our top-notch GST Registration Services from the comfort of your own home or office.
Yes, you can voluntarily get Registered under GST even if your annual turnover does not exceed the threshold limit (40/20 Lacs).
Registering under GST not only helps you in getting your business recognized as a legal registrant but also help you avail various benefits like avail to raise GST Invoice, avail input tax credit, and much more.
If any business entity mandatorily required to register under GST, however, failed to apply or intentionally ignoring the same then business is liable to pay the penalty of 100% of the tax due or INR. 10,000 whichever is higher.
A business needs to get more than one GST number if,
A business entity is supplying goods & services from multiple States, then he/she mandatorily required to register under GST in different States.
Further, any business entity can get multiple GSTIN even if they are operating from a single State under multiple verticals to avoid accounting complexity between multiple businesses.
Illustration
XYZ Private Limited doing the business of selling merchandise and also doing the business of selling software from Bangalore only. Still, a company can apply for multiple GST numbers for their different business domain.
If you are supplying goods and services from one state to all over India. You do not need multiple GST Certificates.
Yes, you can sell both Goods and Services with one GST number, Provided you have listed such Goods/Services while registering under GST.
It is important to mention HSN Codes while you apply for GST Registration Application. However, there is a limit of max number of HSN Codes that you can add in your application form. Know what's the limit and if you can supply goods or services other than HSN Codes mentioned in your application.
Read the complete article here
The GSTN has issued an advisory stating that the geocoding functionality for additional places of business is now active across all States and Union Territories. This means that businesses can now geocode the addresses of their additional places of business on the GST portal.
Learn the process at
The Central Board of Indirect Taxes and Customs (CBIC) has clarified that the GST rate on foreign exchange conversion services is 18% on the difference between the buying and selling rate, or on 1% of the gross amount of currency exchanged, whichever is lower.
Understand the calculations here
Download our free Android App and get realtime update on your order status.
Easily connect with our professionals handling your order over chat & mobile.
Never miss business compliances due date with advance notifications.
Serving business owners with an Average 4.8+ Google Rating.
Trusted by Axis bank to cater its clients all licensing & compliance needs.
Providing lending solutions for business needs with NeoGrowth.
Providing business banking solutions in association with ICICI Bank.
E-startupindia is a Proudly Member of Confederation of Indian Industry.The CII is a premier business association in India which works to create an environment.
E-Startup India is duly certified under GOI's Startup India scheme and is renowned for our tech-driven solutions for business & legal services requirements for MSMEs.
E-Startup India is a Google Partner, which implies we are rigorously involved in assisting SME businesses to market their presence in the digital world.
Instabill - GST Invoice, Payment & Inventory Software
