How does GST registration helps you:
GST registration not only helps you in getting your business recognized as a legal registrant but also opens a number of opportunities for your business. Benefits to
GST registered business at glance are as follows: -
Become more competitive – You will be more competitive in comparison to your unregistered competitors since you will carry valid tax registration.
Expand your business Online – You cannot sell products or services on e-commerce platform without GST registration. If you're planning to give a blow on e-commerce platform like Flipkart, Amazon, Paytm, Shopify or through your own website, you must need a GSTIN.
Can take input tax credit – Only Registered GST holders can avail input of GST tax paid on their purchases and save the cost.
Can sell all over India without any restrictions – Without having GSTIN you cannot trade inter-state. This is possible only if you registered your business under GST.
Apply Government Tenders – Various government tenders requires GSTIN to apply tender. If you don’t have you may miss the business opportunity.
Open Current Bank Account – Especially, in case of sole proprietor business Banks & Financial Institution does not open a current bank account in the name of business trade name unless you carry any government proof in the name of your business. GST registration certificate can help you to open a current bank account.
Dealing with MNCs – Generally, MNC’s does not comfortable to deal with small business entities until they carry valid tax registration proof.
GST registration requirements
Documents required for Goods and Services Tax Registration (GST)/GSTN:
FOR COMPANY
- Director’s PAN CARD- All Directors
- Director’s Aadhar Card
- Soft copy of Photograph
- Board Resolution for Authorising any Director
- PAN Card of Company
- List of Sale & Purchase Items
- Cancel Cheque
- Certificate of Incorporation
- Rent Agreement
- Address Proof of Shop/Branch/Godown/Store: Anyone of the following (Should not be older than 2 months)
- Electricity bill
- Water tax
- Municipal Tax/House Tax Bill
- Digital Signature Certificate (DSC) of at least one director
FOR PARTNERSHIP/LLP FIRM
- Partners’s PAN CARD- All Partners
- Partners’s Aadhar Card
- Soft copy of Photograph
- Resolution for Authorising any Partner
- PAN Card of Company
- List of Sale & Purchase Items
- Cancel Cheque
- Partnership Deed/ COI of LLP
- Rent Agreement
- Address Proof of Shop/Branch/Godown/Store: Anyone of the following (Should not be older than 2 months)
- Electricity bill
- Water tax
- Municipal Tax/House Tax Bill ,Digital Signature Certificate (DSC) of at least one partner in case of LLP
FOR PROPRIETORSHIP FIRM
- Following documents of proprietor:
- PAN Card
- Aadhar Card
- Soft copy of Photograph
- List of Sale & Purchase Items
- Cancel Cheque
- Rent Agreement in case of rented property or NOC if owned by relatives
- Address Proof of Shop/Branch/Godown/Store: Anyone of the following (Should not be older than 2 months)
- Electricity bill
- Water tax
- Municipal Tax/House Tax Bill Digital Signature Certificate (DSC) of at least one partner in case of LLP
Created & Posted by Kiran
Marketing Expert at TAXAJ
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