GST Registration and Cancellation

GST Registration

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    What, When, and How to Register for GST

    GST is India’s most significant tax reform, significantly boosting the ease of doing business and expanding the country’s taxpayer base by bringing in millions of small enterprises. Revenue complications would be decreased while the tax base would be significantly enhanced by abolishing and combining several taxes into a single system. All entities involved in the purchase, sale, or provision of services, or both, must register for GST under the new regime. Entities who do not register for GST will be unable to collect GST from customers or claim an input tax credit for GST paid and may face penalties. Furthermore, whenever a company reaches the minimal threshold turnover or starts a new business that is projected to cross the prescribed turnover, GST registration is required.

     

    GST Turnover Limit

    There are several types of GST registration, and some organizations, such as casual taxable persons, non-resident taxable persons, and those who supply through eCommerce operators, are obliged to register regardless of sales. The GST turnover limit for service providers and goods suppliers who are registered for ordinary GST is listed below.

    Service Providers: Any person or business that generates total annual revenue of more than Rs.20 lakhs is needed to register for GST. The GST turnover ceiling for service providers in special category states has been set at Rs.10 lakhs.

    Goods Suppliers: According to Notification No.10/2019, everyone involved in the exclusive supply of goods with an annual aggregate turnover of more than Rs.40 lakhs must register for GST. The supplier must meet the following criteria to be eligible for the Rs.40 lakhs turnover limit:

    • It is not appropriate for you to provide any services.
    • In the states of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Telangana, Tripura, and Uttarakhand, the provider should not be making intra-state (supplying goods within the same state) supplies.
    • Should not be involved in ice cream, pan masala, or tobacco distribution.

    If the above conditions are not met, the provider of products will be compelled to register for GST when their turnover exceeds Rs.20 lakhs in special category states and Rs.10 lakhs in other states.

    Special Category States: Arunachal Pradesh, Assam, Jammu and Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh, and Uttarakhand are recognized as special category states under GST.

    Aggregate Turnover: Aggregate turnover = (Taxable supplies + Exempt Supplies + Exports + Inter-State Supplies) – (Taxes + Value of Inward Supplies + Value of Supplies Taxable under Reverse Charge + Value of Non-Taxable Supplies).

    The PAN is used to calculate aggregate turnover. As a result, even if one person has many places of business, the whole turnover must be added together.

     

    Voluntary GST Registration

    Any person or company, regardless of business turnover, can register for GST at any time. As a result, numerous businesses receive GST registration while not meeting the aggregate turnover threshold. The following are some of the most important reasons to register for GST voluntarily:

    • To boost the company’s credibility
    • To meet the needs of business-to-business clients
    • To be eligible for an input tax credit, you must first complete the following steps.

     

    GST Registration Responsibilities

    GST-registered entities are subject to a variety of duties and compliance requirements. Failure to comply with the GST regulations or compliance requirements might result in penalties and the authorities revoking your GST registration. The following are some of the key obligations of a GST-registered person:

    • GST collection and remittance from customers
    • Issuing an accurate GST invoice under the GST laws and requirements
    • Even if there is no turnover or economic activity, you must file GST returns when they are due.
    • submitting a GST return every year
    • Maintaining all GST data for eight years.

    Fastrack Filing is India’s most popular business services portal, with services such as income tax filing, GST return filing, private limited company registration, trademark registration, and more. Through specialized GST accounting software, FirstFiling can assist you in obtaining GST registration in India and maintaining GST compliance. The typical time it takes to get a GST Certificate is 5–10 working days, depending on how quickly the government processes the documents and how quickly the client submits them. Make an appointment with a Fastrack Filing Advisor for a free consultation on GST and GST return filing.

    Why go with FirstFiling for GST Registration?

    Registration by CA

    Our team of skilled CA specialists with extensive experience will manage your GST registration.

    After Service Support

    Get answers to all of your questions even after you’ve completed your registration, because our relationship is just getting started.

    Timely Submission

    We will submit your GST application within 24 hours of receiving all of the necessary documentation.

    Answerable to Govt.

    We’ll take care of everything until the GST Department issues your registration certificate.

    Who should register for GST?

    Documents required to get GST registration for a Sole Proprietorship Firm

    1) PAN of Proprietor
    2) Address proof (Aadhar card or Passport or Driving License etc)
    3) Passport Size Photo
    4) Cross bank cheque having a name and account number or passbook front page along with few latest transactions page (Cheque or passbook of the proprietor is sufficient)
    5) Address details of the registered address
    – Rental Property – Rent/Lease agreement in case of rental properties
    – Owned Property – The electricity bill must be in name of the applicant.
    – Other Cases – No Objection Certificate/Consent Letter from the owner of the property along with the electricity bill in such cases where the property is owned by the applicant’s family member etc.

    Note – Cross cheque or passbook of saving account is sufficient and we do NOT require cheque of the firm.

    Documents required to get GST registration for a business other than Sole Proprietorship

    1) PAN of Business (Partnership firm, LLP, Company, etc)
    2) Identity and address proof of the partners/directors/CEO (Aadhar card or Passport or Driving License etc)
    3) Passport Size Photo of the partners/directors/CEO
    4) Cross bank cheque of the business or bank statement with few latest transactions page
    5) Business registration document (partnership deed or certificate of incorporation for companies or LLP or trust deed etc)
    5) Address details of the registered address
    – Rental Property – Rent/Lease agreement in case of rental properties
    – Owned Property – The electricity bill must be in name of the applicant.
    – Other Cases – No Objection Certificate/Consent Letter from the owner of the property along with the electricity bill in such cases where the property is owned by the applicant’s family member etc.

    Pay as you go to get better pricing.

    No Hidden Fees – All-Inclusive Pricing

    Basic
    499.00 /

    Cancel GST Registration

    The majority of people and businesses who sell products and/or services in India are GST registered. A GST registration may need to be canceled after it’s been obtained. Closure of business, no necessity to pay GST, transfer of business, change in the constitution, and no commercial activity are some of the most typical causes for GST registration cancellation. The taxpayer’s compliance burden will be reduced by surrendering a GST registration, as GST returns will no longer be required to be filed every month. To cancel a GST registration, fill out FORM GST REG-16 and send it to the GST Common Portal along with the needed details. Within 30 days of receiving an application for cancellation of GST registration, the GST officer is obliged to verify the application and issue an order in the form GST REG-19.

    From GST registration through GST cancellation, FirstFiling provides a comprehensive suite of GST services. Furthermore, with FirstFiling’s GST Expert help, you can effortlessly manage GST compliance and file GST returns at an affordable cost. Get a free phone consultation about canceling your GST registration in India.

     

    Documents Required for GST Cancellation

    GSTIN

    The GSTIN of the company that is being closed.

    Stock Details

    Information about the inputs that were in stock on the date that the cancellation of registration was requested.

    Tax Liability

    Details of any pending GST liability, fines, penalty, etc..

    Tax Credit

    Details of any GST payments made against the liability, as well as details of any input tax credits.

    How can we help you cancel GST Registration?

    A GST Expert from FirstFiling will create your GST registration cancellation application and gather the documentation required for filing with the GST Department.

    Pay as you go to get better pricing.

    No Hidden Fees – All-Inclusive Pricing

    Basic
    999.00 /

    Frequently Asked Questions

    An entity that is required to register for GST must do so within 30 days of the date on which the entity becomes obliged to do so. Prior to starting a business, casual taxable people and non-resident taxable persons must register under GST.

    No, an entity doing business in many states must register separately in each state where taxable supplies of goods or services are made.

    The GST portal includes instructions for converting existing service tax, VAT, or central excise to GST. To get GST, entities registered under previous tax rules must complete GST migration.

    Yes. Even if they are not required to register, any organization desiring to claim input tax credit can do so voluntarily. Following registration, voluntarily registered entities will be subject to the same regulations as regular taxable persons.

    Yes. Normal taxpayers and casual taxable people must have a PAN in order to register for GST. A non-resident taxable person’s PAN, on the other hand, is not required for registration.

    The registration is valid until it is surrendered, revoked, or suspended once the GST certificate is issued. The only GST certificates with a validity period are those granted to non-resident taxable persons and casual taxable persons.

    No, an unregistered person without GSTIN cannot collect GST from customers or claim an input tax credit of GST paid.

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