Classify Technologies

GST Registration

Make your growing business GST Complaint

Get expert help on GST registration and filing

What is GST?

The goods and services tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. It is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture upto final consumption with credit of taxes paid at previous stages available as set off. In a nutshell, only value addition will be taxed and burden of tax is to be borne by the final consumer.

The tax came into effect from July 1, 2017 through the implementation of One Hundred and First Amendment of the Constitution of India by the Indian Government. The tax replaced existing multiple Central and State Government taxes.

The tax rates, rules and regulations are governed by the GST Council which consists of the finance minister of central and all the states. GST is meant to replace a slew of indirect taxes with a unified tax and is therefore expected to reshape the country's 2.4 trillion dollar economy. GST tax rates vary from 0% - 28% depending on the type of service or Nature of Goods Your business is selling. The GST is paid by consumers, but it is remitted to the government by businesses selling goods and services. In effect, GST provides revenue for the government.

Online GST Registration

GST (Goods and Services Tax) is essentially an Indirect tax which has been implemented to replace numerous taxes in India. Online GST registration was passed in the Parliament on 29th March 2017 yet it became effective on 1st July 2017 in India. As per the changes in the 32nd council meeting, the threshold limit for GST registration is 40 lakhs for the supplier of goods and 20 lakhs for the supplier of services. Along with that, the North-Eastern States have an option to choose between 20 lakhs and 40 lakhs. Once you have registered under this regime, you will receive a unique GSTIN (Goods and Service Tax Identification Number). There are various advantages of GST registration. You can also avail input tax credit and collect GST from recipients of goods and services.

Online GST registration can be easily done by visiting Online GST portal. It is easy to fill the form on GST online portal yet at the same time you require the expert's to fill the form with accurate information and submit the documents accordingly. Few of the terms while drafting for GST registration cannot be understood by many of the taxpayers. Therefore at the initial stage GST registration should be done with the help of experts and here at Classify Technologies, you will be able to get done with your GST registration with a simple and quick process.

How to register for GST?

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LIST OF DOCUMENTS REQUIRED FOR GST REGISTRATION

Proprietorship

PAN Card of Owner.
Aadhaar Card Of Proprietor.
Bank Details.
Address Proof.

Private Limited

PAN Card of Company.
Aadhaar of All Directors.
Bank Details.
Address Proof.
MOA, AOA and Incorporation.

Partnership / LLP

PAN Card of Partnership.
Aadhaar of Partners.
Bank Details.
Address Proof.
Partnership Deed/ LLP Certificate.

ONLINE GST CALCULATOR

GST was introduced in the year 2017 on 1st July, for the purpose to reduce the multiple taxes and build up a uniform tax in India. GST is segregated in four different types such as ;

1. IGST (Integrated Goods and Services Tax)

2. UTGST (Union Territory Goods and Services Tax)

3. CGST (Central Goods and Services Tax)

4. SGST (State Goods and Services tax).

GST registration is necessary for every taxpayer who falls under GST criteria. There are many (at least more than 5) GST slabs in India, and if you are trading/working in multiple GST Slab goods, you have to calculate values with/without GST. GST Calculator Online helps you to get either gross or net profit on GST rates. The GST calculator online spares time and reduces the mistake which can be done by humans while calculating the expense on Goods and Services.

Razorpay’s online GST calculator helps you to calculate SGST, CGST, IGST tax amount easily.

CALCULATE NOW

BENEFITS OF GST REGISTRATION

You can legally collect taxes from your customers and pass on the Tax Benefits to suppliers.

Business Becomes 100% tax Compliant
You can Claim Input Tax Credit which you have paid on your purchases and improve profits.
GST certificate can be used as one of the documents while opening current account or Business Account.
You can easily apply for various states and Central Government tenders if you have GSTN.
Expand your business through various channels like Online, Import-Exports
To start payment gateways and use mobile wallets GST number is used.

WHAT ARE DIFFERENT TYPES OF GST REGISTRATION?

For the filing of GST, transactions need to be classified depending on the type of customer to whom the sale is done. Following are the two different types of GST registration:

A. Registration Under Composition Scheme:

The Composition Scheme is for the small taxpayers in order to ease the tax compliance for them. This scheme allows eligible taxpayers to pay a percentage of their yearly revenue as a tax. Like small retailers, eateries and trading businesses. This will relieve the taxpayers/ businesses from collecting taxes from their customers directly and adds benefits as mentioned below:

File Single Quarterly return, not multiple monthly returns.
Pay Lower Tax which gives competitive advantage
Books of Accounts and Records are easy to maintain under GST norms.

In short, this is a customer who has a business which is registered under the composition scheme of GST and has a GSTIN.

Following is the eligibility criteria to register under GST Composition Scheme :

Must be a Registered Taxpayer
Annual Turnover should be less than Rs 1 Crore
Manufacturers of Goods, Dealers, and Restaurants (Not Serving Alcohol) can opt for this scheme.

B. Registration As a Casual Taxable Person:

Casual Taxable Person is a person who supplies taxable goods or services occasionally like a event management company which has various events in different states needs to register as a Casual Taxable Person for that particular taxable state before supplying or offering any goods or services.

Suppose Mr. 'A' has a business of consulting and who provide services in different states, then he needs to register as a Casual Taxable Person so that his business is compliant with the tax norms of that particular state.

PACKAGE INCLUDES

GST Certificate
GST invoice Template
GST Offline Invoice Software
GST HSN Codes
Tax Rates

PENALTIES INVOLVED UNDER GST ACT

Not having GST Registration : 100% tax Due or Rs10,000. Whichever is higher.

Not giving GST invoice : 100% tax due or Rs10,000. Whichever is higher.

Incorrect Invoicing : Rs 25,000.

Not filing GST Tax Returns : For Nil Return its Rs 20 Per Day, Regular Returns Rs 50 Per Day.

Choosing Composition Scheme even if not eligible : 100% tax due or Rs10,000. Whichever is higher.

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