WHAT IS GST REGISTRATION
Under Goods And Services Tax (GST), businesses whose turnover exceeds the threshold limit of Rs.40 lakh or Rs.20 lakh or Rs.10 lakh as the case may be, must register as a normal taxable person. It is called GST registration.
For certain businesses, registration under GST is mandatory. If the organization carries on business without registering under GST, it is an offence under GST and heavy penalties will apply.
GST registration usually takes between 3-5 working days subject to Govt. approval. Our Team can help you obtain GST registration.
WHO SHOULD OBTAIN THE GST REGISTRATION?
- Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)
- Businesses with turnover above the threshold limit of Rs.40 lakh or Rs.20 lakh or Rs.10 lakh as the case may be
- Casual taxable person / Non-Resident taxable person
- Agents of a supplier & Input service distributor
- Those paying tax under the reverse charge mechanism
- A person who supplies via an e-commerce aggregator
- Every e-commerce aggregator
- Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person.
HOW TO APPLY FOR GST REGISTRATION?
GST registration can be obtained on the GST portal. One must apply for GST registration in Form REG-01 on the GST portal.
However, the GST registration services at Helios global helps you to get your business GST registered and obtain your GSTIN. Helios global experts will guide you on the applicability and compliances under GST for your business and get your business registered under GST.
DOCUMENTS REQUIRED FOR GST REGISTRATION
- PAN of the Applicant
- Aadhaar card
- Proof of business registration or Incorporation certificate
- Identity and Address proof of Promoters/Director with Photographs
- Address proof of the place of business
- Bank Account statement/Cancelled cheque
- Digital Signature
- Letter of Authorization/Board Resolution for Authorized Signatory
PENALTY FOR NOT OBTAINING GST REGISTRATION
An offender not paying tax or making short payments (genuine errors) has to pay a penalty of 10% of the tax amount due subject to a minimum of Rs.10,000.
The penalty will at 100% of the tax amount due when the offender has deliberately evaded paying taxes.
If you are looking for a reliable and efficient partner to help you with GST registration services, look no further than HELIOS GLOBAL. We are a leading firm of chartered accountants in providing comprehensive and customized solutions to our clients. Whether you are a new business or an existing one, we can guide you through the entire process of GST registration, from eligibility criteria to documentation requirements to filing returns. We can also help you with GST compliance and advisory services to ensure that you comply with the latest rules and regulations. At HELIOS GLOBAL, we believe in delivering quality service at affordable rates. Contact us today at Helios Global and let us take care of your GST needs.
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