GST registration is a crucial compliance for businesses and professionals in India, providing a unique 15-digit Goods and Services Tax Identification Number (GSTIN). This registration makes your business liable for GST and aids authorities in monitoring transactions. Whether you meet mandatory criteria or seek voluntary registration, our company, White and Right, streamlines this process for compliance under the GST framework.
Contact our experts today for seamless GST registration!
Overview of GST Registration in India
Implemented on 1 July 2017, the Goods & Services Tax (GST) is mandatory for most service providers, traders, manufacturers, and freelancers in India. GST replaced various central and state taxes to simplify the tax system. The GST registration process cost varies based on business type and turnover.
A composition scheme offers simplified procedures and fixed tax rates based on turnover for taxpayers with an annual turnover below ₹1.5 crore.
The GST mechanism applies at each stage of the supply chain: raw material acquisition, production, wholesale, retail, and final sale. GST revenue for inter-state transactions is allocated to the state of consumption. For example, GST from a product made in West Bengal and used in Uttar Pradesh goes to Uttar Pradesh.
Key Components of GST
- Central Goods and Services Tax (CGST): Levied by the Central Government on intra-state supply of goods and services.
- State Goods and Services Tax (SGST): Charged by the State Government on intra-state supply of goods and services.
- Integrated Goods and Services Tax (IGST): Imposed by the Central Government on inter-state supply of goods and services and transactions between states and Union Territories.
Who Needs GST Registration?
- Business Entities: Aggregate annual turnover exceeding ₹40 lakhs (₹20 lakhs for special category states).
- Service Providers: Aggregate annual turnover over ₹20 lakhs (₹10 lakhs for special category states).
- Entities not exclusively dealing in GST-exempted goods/services.
- Entities previously registered under earlier tax regimes.
- Inter-state suppliers.
- Casual taxable persons.
- Entities under reverse charge mechanism.
- Input Service Distributors and their agents.
- E-commerce platform operators/aggregators.
- Non-resident taxable persons.
- Agents of suppliers.
- E-commerce suppliers.
- Online service providers (from outside India to non-registered individuals in India).
GST Registration Turnover Limits
Voluntary GST registration is possible regardless of turnover. Mandatory registration applies upon exceeding specific turnover thresholds:
- Service Providers: ₹20 lakhs annually (₹10 lakhs for special category states).
- Goods Suppliers: ₹40 lakhs annually, subject to conditions:
- Not providing any services.
- Not making intra-state supplies in Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Telangana, Tripura, and Uttarakhand.
- Not supplying ice cream, pan masala, or tobacco.
- If these conditions are not met, the limit is ₹20 lakhs (₹10 lakhs for special category states).
Special Category States: Arunachal Pradesh, Assam, Jammu and Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh, and Uttarakhand.
Aggregate Turnover Calculation: (Taxable supplies + Exempt Supplies + Exports + Inter-State Supplies) – (Value of Inward Supplies + Value of Supplies Taxable under Reverse Charge + Value of Non-Taxable Supplies). Calculated based on PAN across all business locations of the same entity.
Advantages of GST Registration
- Legal Compliance
- Input Tax Credit
- Ease of Inter-State Trade
- Elimination of Cascading Effect
- Competitive Edge
- Access to Larger Markets
- Optimized Cash Flow
- Enhanced Credit Rating
- Legal Safeguard
- Simplified Compliance
- Transparent Operations
GST Certificate
The GST Certificate is an official document issued by the Indian government confirming GST registration. It includes the GSTIN, business name, and address. It’s essential for:
- Collecting GST from customers.
- Claiming input tax credits.
- Loan applications.
- Government tenders.
- Enhancing market reputation.
GSTIN (Goods and Services Tax Identification Number)
A unique 15-digit alphanumeric code for every registered taxpayer under GST in India. It’s the primary identifier for GST-related transactions and compliance.
Voluntary GST Registration
Businesses with turnover below ₹20 lakhs can voluntarily register for GST to gain benefits like input tax credits, unrestricted inter-state sales, e-commerce platform eligibility, and a competitive advantage.
GST Registration Documents Required
| Business Type | Documents Required
Note: Bank account details and address proof are generally required for all business types.
Penalty for Not Obtaining GST Number Registration
- Non-Payment or Underpayment: 10% of the outstanding tax amount.
- Intentional Tax Evasion: 100% of the evaded tax amount.
Our expert GST registration services at White and Right help you stay compliant and avoid penalties.
Get GST Registration Online Quickly with White and Right
Obtain your GST registration online with our efficient services. Contact us with your name, phone number, and email to begin the process.
Our GST expert will contact you to understand your business and operating state, addressing any queries about GST portal registration. We will collect and verify your documents for a smooth process. Upon payment, we initiate the online GST registration and upload your application to the GST Portal.
Receive your GST registration within 3 to 7 working days. The entire process is online, eliminating the need for physical presence. You also gain access to the LEDGERS Platform for GST invoicing and return filing.
GST Return Filing
GST return filing is a mandatory process for every GST-registered taxpayer in India, involving the submission of information about sales, purchases, and taxes. Returns must be filed regularly, even with no transactions. White and Right assists you with GST registration and ensures compliance with affordable costs. Our GST experts are available to guide you through the return filing process.