GST Registration is a mandatory tax registration for all businesses in India that engage in buying and selling or providing services with annual sales exceeding 20 lakh rupees.
The Indian government introduced the Goods and Services Tax (GST) on July 1, 2017, to consolidate various types of state and central level taxes such as Service Tax, Luxury Tax, VAT, entertainment tax, and so on. This step aims to bring much-needed tax reforms to India's tax system by reducing tax complexities and making GST return filing a completely online process. Anyone whose annual turnover exceeds Rs. 20 lacs is required to pay GST. GST is required for entities with an annual turnover of Rs. 10 lacs that are located in special category states.
Regardless of their annual turnover, entities involved in the sale of goods and services via an e-commerce platform must register for GST. Aside from that, anyone selling goods across state lines must register for GST. GST enables each link in the supply chain to claim an input tax credit for taxes paid on purchases, as well as assisting entities in collecting GST from customers. Any entity must register for GST within 30 days of the date on which it becomes liable to do so. Casual taxpayers and foreigners must register for GST before starting their business.
PAN of Proprietor
Proof of Address (Aadhar/Passport/Electricity Bill)
Photo of Proprietor
Proof of registered office address (Lease Deed/Electricity Bill/Rent Agreement)
Consent letter, if property not owned
Cancelled Cheque Copy/Bank Statement/First page Passbook of Bank Account
Elimination of Multiple taxes
Saving more money
Ease of business
Cascading effect reduction
Increase in GDP
Reduction in Tax Evasion
More competitive Product
Increase in Revenue