GST Registration: What is GST, Who Needs to Register, Process, Documents Required, GST Filing & Compliance, GST Surrender, and Important Points That No One Will Tell You!
Disclaimer: All the information on this page is curated as of the posted date, and details may vary when you read it, depending on government policies at that time. Many points in this article have been simplified for easier understanding. Please refer to the official government portal or consult with a Tax Expert for the most current and accurate guidelines.
What is GST:
GST (Goods and Services Tax) is a single tax applied to goods and services you buy or use in India.
Here’s how it works in simple terms:
- One Tax for Everything: Whether you’re buying a product from a store or paying for a service, GST is applied to almost everything.
- Who Pays the Tax? You, the consumer, ultimately pay the GST when you buy goods or services. However, businesses collect this tax and pass it on to the government.
- Different Tax Rates: There are different GST rates for different products and services. For example, essentials like food items may be taxed at 5%, while other products and services—such as electronics or luxury goods—are taxed at 12%, 18%, or 28%.
Some items, like basic food and healthcare, may not have any GST at all.
If you’re a business owner who needs to register for GST or seek guidance on its applicability, Team Your Tax Expert is here to offer comprehensive support and simplify the registration process for you every step of the way.
Feel free to WhatsApp your query to 9500097526, and our team will get back to you promptly!
Who Needs to Register & Collect GST?
In India, businesses and individuals must register for GST if their turnover exceeds a specified threshold or if they meet other criteria set by the government. Below is a simplified breakdown of who needs to register for GST:
For Goods:
If a business’s annual turnover exceeds ₹40 lakhs (₹20 lakhs for special category states), GST registration is mandatory.
For Services:
If a service provider’s annual turnover exceeds ₹20 lakhs (₹10 lakhs for special category states), GST registration is required.
Interstate Suppliers:
- If a business supplies goods or services across state borders (i.e., interstate sales), it must register for GST, regardless of its turnover.
- This rule applies even if the turnover is below the threshold for intra-state sales.
Summary of Thresholds:
- Goods: ₹40 lakhs (₹20 lakhs for special category states)
- Services: ₹20 lakhs (₹10 lakhs for special category states)
- Interstate Sales: Registration is mandatory, irrespective of turnover.
GST Registration Process:
GST registration can be obtained by application via registration Form REG-01 in the GST portal.
The registration process and compliance requirements can feel overwhelming for new business owners, which is why we strongly recommend seeking guidance from the right experts.
At Your Tax Expert, we’ve helped businesses across India, all from our offices in Adyar, Chennai and Coimbatore. Whether it’s GST or setting up your business, we’ve got the expertise to make it happen!
At Your Tax Expert, we assist businesses across India with seamless GST registration and ensure smooth monthly, quarterly, and annual filing – tailored to suit your specific business needs and budget.
Don’t let incomplete information lead to unwanted tax notices.
Connect with our team via WhatsApp at 9500097526, and focus on growing your business while we take care of your taxes!
Documents Required: For Proprietor GST Registration
KYC documents:
- One passport size photo of the proprietor
- Phone number, email ID of the Proprietor
- PAN card & Aadhaar copy of the Proprietor
Address proof in case of rental place of business:
- Rent/Lease agreement in the name of the business mentioning the business name & operations
- NOC from the landlord
- Recent EB bill copy in the name of the landlord
Address proof in case of place of business in the name of the proprietor:
- Recent EB bill in the name of the proprietor
Address proof in case of place of business in the name of the family member of the proprietor:
- Recent EB bill in the name of the family member
- Proof that confirms the relationship
- NOC from the family member
GST Filing & Compliance:
The frequency of GST return filing depends on the type of taxpayer and the nature of the business. The returns are filed either monthly, quarterly, or annually, depending on the circumstances.
GST filing can be overwhelming, especially when you’re already juggling the responsibilities of running a new business.
We also want to ensure that incomplete or incorrect information doesn’t result in unexpected tax notices.
Connect with our team via WhatsApp at 9500097526 and focus on your hustle while we handle your taxes!
GST Surrender:
GST registration can be surrendered if the taxpayer is no longer engaged in taxable activities, if the turnover falls below the GST threshold, or in the case of business reorganization (such as mergers, splits, or sales). It can also be surrendered due to the dissolution of a business or the closure of a partnership or firm.
To initiate the surrender process, taxpayers can submit GST REG-16 through the GST Portal.
Important points that no one will tell you!
- The GST department may request a geotagged photo of the principal place of business, along with a name board displaying the business name, address, and contact details (including website), as a follow-up document after registration.
- The GST department may also conduct random verification of your business premises. If there is no signage displaying the GST number, your registration could be suspended.
- GST returns must be filed quarterly, even if there is no income or zero turnover during the period. Failure to file on time may result in significant penalties or fines over time.
- If you decide to close your business or cease operations, ensure that your GST obligations are not neglected. Remember to surrender your GST registration and complete the process by filing GSTR-10 to avoid heavy penalties or fines.
From GST registration and compliance to surrender and notice handling, Your Tax Expert Team has got you covered!
Don’t let incomplete information lead to unwanted tax notices.
Hit us up on WhatsApp at 9500097526, and keep your focus on growing your business while we take care of the taxes!
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