It is mandatory to get GST registration under-

• If your annual turnover exceeds INR 40 Lacs* or
• If you are doing inter-state sales or
• If you are selling products online through e-commerce portal or
• If you are into the import or export business
• If you want to raise a tax invoice for your customers
• If business participating in exhibition/event outside the State as Casual Taxable Payer

*In case of North Eastern States, an annual turnover threshold limit is INR 20 Lakhs

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.

 

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.

• Passport Size Photograph
• Aadhar card or Passport or Driving License
• Pan card of business entity
• Address proof of business premises 
• Bank Statement or Cancel cheque or Passbook

• Certificate of Incorporation in case of Company, OPC or LLP
• Partnership Deed in case of partnership firm

GSTIN stands for Goods and Service Tax Identification Number consists of 15 digits. This will be get generated from government end when you have successfully applied for GST registration.

• First 2 digit denotes represent State in which business registered under GST
• Next 10 Digits denotes PAN of business entity
• 13th digit denotes the number of business located in the same state
• Last two digits are randomly generated.

Yes, you can sell both Goods and Services with one GST number, Provided you have listed such Goods/Services while registering under GST.

Sure why not, you can start a business from your home. You just need to provide proof of your residential address for getting registered for GST.

This is the most common question business doers are facing these days i.e. what are the compliances after obtaining GST certificate?

Following things, you must do after obtaining GSTIN Number:

1. Affix GST Certificate within your business premises.

2. Issue GST compliant Invoice.

Sign up for FREE Instabill GST Invoice Billing Software or Download Android Mobile App.

3. Timely file your GST Return.

Yes, from the very moment you obtain GST registration certificate, you need to charge GST tax from your customers on every sale.

Don't know how to charge gst tax from customers?

Sign up  Instabill GST Invoice Billing Software for FREE.

The process of converting from the old service account to GSTN through GST registration is as follows-

#1.Login to CBIC Portal.
#2.Receive the Provisional id and password.
#3. Create the new user id and password on the GST portal.
#4. Enter all your business details along with the promoter details and the business address, Bank details and upload the required documents on the GST portal.
#5. Finally, verify with the DSC or Aadhar generated EVC.

• Need to file a single quarterly return. Four returns in a year
• Limited compliances
• Less tax liability
• Pay small amount of tax on turnover (1% for traders & 5% for restaurant)
• Not require maintaining detailed records
• Can provide auxiliary services up to ₹ 5 lakhs annually under the composition scheme.

• Cannot avail input tax credit of purchases made
• Cannot issue tax invoice
• Cannot charge composition tax on invoice from customer as usual practice in case of normal GST scheme

• If Annual turnover exceeds ₹ 1.5 Crore
• If you involved in Inter-State supplies
• All Service Sector Business except restaurant
• Importer of goods & services
• E-commerce sellers
• Supplier of non-taxable goods
• Manufacturer of Notified Goods

Relaxation announced on GST Composition Scheme on 23rd GST Council Meeting held.

Yes, Digital Signature Certificate is required if you are Private limited, Public limited, LLP or One Person Company