GST Registration
GST Registration - Eligibility, Process and Expert Help
GST is the biggest tax reform in India, tremendously improving ease of doing business and increasing the taxpayer base in India by bringing in millions of small businesses in India. By abolishing and subsuming multiple taxes into a single system, tax complexities would be reduced while tax base is increased substantially. Under the new GST regime, all entities involved in buying or selling goods or providing services or both are required to obtain GST registration. Entities without GST registration would not be allowed to collect GST from a customer or claim input tax credit of GST paid or could be penalised. Further, GST registration is mandatory once an entity crosses the minimum threshold turnover of starts a new business that is expected to cross the prescribed turnover.
As per the GST Council, entities in special category states with an annual turnover of Rs.10 lakhs and above would be required to obtain GST registration. All other entities in rest of India would be required to obtain GST registration if annual turnover exceeds Rs.20 lakhs. There are also various other criteria's, that could make an entity liable for obtaining GST registration - irrespective of annual sales turnover (Criteria for GST registration is provided below). Entities required to obtain GST registration as per regulations must file for GST registration within 30 days from the date on which the entity became liable for obtaining GST registration.
2Q Professional is the leading business services platform in India, offering a variety of services like GST registration, GST return filing, private limited company registration, trademark filing and more. 2Q Professional can help you obtain GST registration in India and maintain GST compliance through a proprietary GST accounting software. The average time taken to obtain GST registration is about 5 - 10 working days, subject to government processing time and client document submission. Get a free consultation on GST registration and GST return filing by scheduling an appointment with an 2Q Professional Advisor.
GST Registration Eligibility
Turnover Criteria
Entities involved in supplying of goods or services with an annual aggregate turnover of more than Rs.20 lakhs in most States are required to obtain GST registration mandatorily. In special category states, the aggregate turnover criteria has been reduced to Rs.10 lakhs. In addition to the turnover criteria, there are various other conditions that could mandate GST registration. Use the tool below to find if GST registration is required for your business.
Inter-State Supply
If an entity undertakes inter-state supply of goods and/or services, then GST registration must be obtained mandatorily, irrespective of aggregate annual turnover. For example, if a business in Maharashtra supplies goods to a business in Tamil Nadu, then GST registration is required.
Existing Taxpayers
All entities having service tax or VAT or central excise registration must be registered under GST mandatorily. Existing taxpayers have been provided with Provisional ID and password for completion of GST migration formalities and generation of GSTIN by the respective tax departments.
E-Commerce Sellers
Entities involved in the supply of goods or services through e-commerce platforms are mandatorily required to obtain GST registration, irrespective of aggregate annual turnover. Hence, sellers on e-commerce platforms like Amazon, Flipkart and Snapdeal would have to register under GST mandatorily.
Casual Taxable Persons
A casual taxable person is someone who occasionally undertakes supply of goods or services having no fixed place of business. An example of a casual taxable person can be a fireworks shops setup during Diwali festival time, selling fireworks or a temporary food stall.