If you fail to Register for GST Registration any of the offenses are committed then a penalty will have to be paid under GST. The principals on which the penalty will be charged are also mentioned by indian law.
In Order to avoid any later issue you must get your business / proprietorship GST number at the earliest through this portal.
If you are running a business as a properitership/private limited/corporation dealing with sales of goods and services with annual turnover exceeding 20 Lakhs (except few states for which the amount is 10 Lakhs ) then you must get GST (Goods & Services Tax Number)
Fill the above form in this website with your business details
Step 1: Select your State & District
Step 2: Enter your business name and PAN number of your business (click here if you dont have pan number for business)
Step 3: If the details you have entered is validated then you will see, Your Application Verified Successfully, if you see this message click “Make Payment”
Step 4: Complete payment by paying fees of 1800 Rs. using debit card / credit card / net banking options
Step 5: After you completed the payment, you will receive a reference number to your mobile number.
Step 6: Wait for 24 hours to get your GST number
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Step 1: Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)
Step 2: Businesses with turnover above the threshold limit of Rs. 20 Lakhs
Step 3: Casual taxable person / Non-Resident taxable person
Step 4: Agents of a supplier & Input service distributor
Step 5: Those paying tax under the reverse charge mechanism
Step 6: Person who supplies via e-commerce websites
Step 7: Every e-commerce aggregator running e-commerce websites online
Step 8: Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person
If you are running business in North-Eastern States J&K, Himachal Pradesh and Uttarakhand and your business annual turnover is below 10 Lakhs. You don't need to register for GST
A. For normal registered businesses:
1. You can take tax input credit
2. Make interstate sales without restrictions (e-way bill)
To learn full benefits of GST click here.
B. For Composition dealers:
1. Limited compliance for your business
2. Less tax liability for your business
3. If you running on High working capital
To know more about composition scheme click here
C. For businesses that voluntarily opt-in for GST registration (Below Rs. 20 lakhs)
1. Take input tax credit
2. Make interstate sales without restrictions
3. Register on e-commerce websites and do dealings
4. Have an advantage over other business who does not have GST
To know more about voluntary registrations click here
Step 1: FMCG Business GST
Step 2: Automobile Business GST
Step 3: Retail Business GST
Step 4: B2B (Business to Business)
Step 5: Agriculture
Step 6: MSME (how you can benefit)
Step 7: Gold & Jewellery
Step 8: GST for Education Services
Step 9: Impact on GST on Real Estate
Step 10: Sole Proprietorship GST
Please note that you can also register a voluntary registration for GST, This voluntary registration can be cancelled after one year of its registration.
What is Composition scheme in GST?
If you run a Small businesses with annual turnover less than Rs. 1 crore* ( Rs. 75 Lakhs for NE States) can opt for Composition scheme.
*GST Council decided to increase the limit to Rs. 1.5 crores but notification is awaited.
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