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    GST Registration(Goods and Services Tax)

    Welcome to BookmyLLC, your gateway to seamless GST registration services, enabling your business to thrive within the new tax regime. Our comprehensive solutions ensure hassle-free registration, compliance, and opportunities for your business growth. GST Registration is a crucial step for businesses in India, and it's important to understand its significance, requirements, and benefits.

    Understanding GST (Goods and Services Tax)

    GST is a unified indirect tax policy that replaced various previous taxes like VAT, CST, Service Tax, Central Excise duty, and Entertainment Tax. It was implemented across India on July 1, 2017.

    When to Register for GST:

    Mandatory when the annual turnover exceeds INR 40 lakhs (INR 20 lakhs for service providers) or when dealing with interstate supply or e-commerce platforms.

    Know more about GST

    Tax rates range from 0% to 28%, depending on the type of goods and services being sold.

    Input Tax Credit Availment:

    Only GST-registered businesses can claim input tax credit on purchases when filing GST returns.

    Return Filing & Payment:

    GST registrants must file three monthly/quarterly returns and one annual return, along with monthly tax payments.

    Composition Scheme:

    Businesses with an annual turnover less than INR 1.5 crore can opt for the composition scheme, with subsidized tax rates and quarterly returns.

    Mandatory GST Registration criteria in India:

    • Turnover Criteria: Annual turnover above INR 40 lakhs requires GST registration (INR 20 lakhs for service providers).
    • Casual Taxpayer: Those supplying goods or services at events without a permanent place of business need GST registration.
    • NRI Taxpayer: Non-resident Indians starting a business in India must apply for GST registration.
    • Agents of a Supplier & Input Service Distributor: Input service distributors wanting to carry forward input tax credit require GST registration.
    • Reverse Charge: Businesses liable to pay tax under the reverse charge mechanism must register for GST.
    • E-Commerce Portals: E-commerce platforms hosting multiple vendors must enroll under GST.
    • Inter-State Supply: Businesses dealing in inter-state supply must register with the GST Department.
    • Export: Export-oriented businesses must register for GST.

    Benefits of GST Registration:

    • Legitimacy: Confirms your business as a legal entity.
    • Credibility: Enhances trust with customers, suppliers, and financial institutions.
    • Input Tax Credit: Allows businesses to claim credit on tax paid for purchases, reducing tax liability.
    • Market Reach: Enables selling goods and services across India without restrictions.
    • Government Tenders: Required for participating in various government tenders.
    • Banking: Helps open a current bank account for your business.
    • Dealing with MNCs: Attracts larger businesses looking for registered suppliers.

    Penalty for Not Registering under GST:

    Businesses not registering under GST may face penalties, detention of goods, confiscation, and ineligibility for input tax credit.

    The Step-by-Step GST Registration Process:

    1. Provide business details and information to the web portal.
    2. Select a package and make online payment.
    3. Your application will be assigned to a dedicated professional.
    4. Professionals verify documents and file the GST application.
    5. Regular follow-up is done with the government for application processing.
    6. Upon obtaining GSTIN, you’ll receive a GST certificate along with eGuides on GST and GST Invoicing Software.

    Checking GST Registration Application Status:

    1. Visit the GST portal at www.gst.gov.in.
    2. Click on Services > Registration > Track Application Status.
    3. Enter the ARN (Application Reference Number) and captcha code.
    4. Check the application status, which could be submitted, pending verification, pending clarification, rejected, or approved.

    Documents Required for GST Registration:

    1. PAN Card of the Business or Applicant.
    2. Identity and Address Proof of Promoters.
    3. Address Proof for Place of Business.
    4. Bank Account Proof.

    GST registration is mandatory for all eCommerce Sellers. Citizens can apply for New GST by Registrating online without Visiting the Govt. office.

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