When do I need GST Registration for my business ?

When do I need GST Registration for my business ?

GST stands for Goods and Service Tax, an indirect tax applied by the Government of India. Suppose you are running any business online, offline or providing services like the hotel, restaurant, shopping, offices, factories, etc. In that case, the Government charges GST on any product or service that we sell above a specific Turnover Limit.

Under the GST regime, every business entity gets a Goods and Services Tax Identification Number (GSTIN) or a GST Number. In addition, every registered person receives a GSTIN or Unique Identification Number. GSTIN facilitates income tax authorities to ascertain GST dues and payments.


Who is eligible for the GST Number?

Eligibility to apply GSTIN:-

  • For the manufacturing sector, mandatory registration is needed when the financial turnover is Rs 40 lakhs or more for the financial year.
  • For the service sector, mandatory registration is needed when the financial turnover is Rs 20 lakhs or more for the year.
  • In Northeastern and other remote hill states, Rs 10 lakhs or more is the limit.
  • Voluntarily anyone can apply for the GSTIN.


Benefits of GSTIN Registration

The benefits are pretty easy to reap in the long run when you have a GST:

  1. The GST Tax paid to the GST Department can come down. You only need to pay for value addition by your business.
  2. The GSTIN is a symbol of validity & trust. It helps to give you identity & credibility for your business.
  3. GST has specific, explicit provisions on the inter-state movement of goods for e-commerce brands.
  4. The composition Scheme announced by GST Department is a simple and easy scheme for small taxpayers. The scheme comes under GST, which reduces tedious GST formalities and pays GST at a fixed turnover rate with fewer returns.


How to register your business with GST?

Registration for GST is a straightforward & online process. With the GST portal, you can easily apply for GST registration. In addition, several firms provide professional services for online registering your business with GST.

TAXAJ offer a wide range of services compliant with GST. We have multiple features that create a secure work environment for your business. From GST invoices or filing returns, we offer assistance at every step.

Essential documents required for GST registration

Following documents are required for GST Registration:

  • Company PAN Card
  • Photographs (passport size)
  • Identity proofs like Aadhar Card/Passport/Driving Licence
  • Proof of address for your offices
  • Bank details via a statement/cancelled cheque or passbook
  • Certificate of association for Private Ltd Company or LLP/ OPC
  • Partnership deed for partnership firms


For any further queries related to this, visit TAXAJ
TAXAJ Corporate Services LLP
Address: 1/11, 1st Floor, Sulahkul Vihar, Old Palam Road, Dwarka, Delhi-110078
Contact: 8961228919 ; 8802812345 | E-Mail: connect@taxaj.com