WHAT IS THE 'GST'
GST is the biggest tax reform in India, By abolishing and subsuming multiple taxes into a single system, tax complexities would be reduced while tax base is increased substantially. The full form of GST is goods and service tax. Under the new GST regime, all entities involved in buying or selling goods or providing services or both are required to register for GST. Entities without GST registration would not be allowed to collect GST from a customer or claim an input tax credit of GST paid and/or could be penalized. Further, registration under GST is mandatory once an entity crosses the minimum turnover limit prescribed by the GST authority. Here we mentioned the prescribed minimum turnover limit .
Service Providers:
Any person or entity who provides service of more than Rs.20 lakhs in aggregate turnover in a year is required to obtain GST registration (Rs 10 lakhs for North Eastern and hill states).
Goods Suppliers:
As per notification No.10/2019 any person who is engaged in the exclusive supply of goods whose aggregate turnover crosses Rs.40 lakhs in a year is required to obtain GST registration. To be eligible for the Rs.40 lakhs turnover limit, the supplier must satisfy the following conditions:
* Should not be providing any services.
* The supplier should not be engaged in making intra-state (supplying goods within the same state) supplies in the North Eastern and hill states.
* Should not be involved in the supply of ice cream, pan masala or tobacco.
Any person or entity who provides service of more than Rs.20 lakhs in aggregate turnover in a year is required to obtain GST registration (Rs 10 lakhs for North Eastern and hill states).
Goods Suppliers:
As per notification No.10/2019 any person who is engaged in the exclusive supply of goods whose aggregate turnover crosses Rs.40 lakhs in a year is required to obtain GST registration. To be eligible for the Rs.40 lakhs turnover limit, the supplier must satisfy the following conditions:
* Should not be providing any services.
* The supplier should not be engaged in making intra-state (supplying goods within the same state) supplies in the North Eastern and hill states.
* Should not be involved in the supply of ice cream, pan masala or tobacco.
If the above conditions are not met, the supplier of goods would be required to obtain GST registration when the turnover crosses Rs.20 lakhs for SERVICE PROVIDER and 40 lakhs for GOODS SUPPLIERS and Rs.10 lakhs for North Eastern and hill states.BHARAT REGISTRATION. COM is the place where you will get the GST REGISTRATIONwithin the affordable price; we are having the best professionals who will provide the GST REGISTRATION, monthly and quarterly GST FILLINGin a professional way.
WHAT IS GSTN –
The first 2 digits of the 15-digit GSTIN will represent the state code. For example: 27 for Maharashtra
The next 10 digits will be the PAN of person or entity engaged in Business.
2. Adhar card
3. Utility bill (electricity bill, land phone bill,)
4. Rental agreement, utility bill.
5. NOC from land lord
6. Photo
7. Bank statement/ bank pass book
2. Fathers name of the signatory authority –
3. DOB of the signatory authority -
4. Name of the entity –
5. Business type (proprietorship/ partnership/Pvt ltd/ltd etc.) -
6. Address with pin no –
7. Email.ID –
8. Mobile no-
9. Business activities –
10. Pan card no-
11. Bank account details -
WHAT IS GSTN –
The first 2 digits of the 15-digit GSTIN will represent the state code. For example: 27 for Maharashtra
The next 10 digits will be the PAN of person or entity engaged in Business.
REQUIRED DOCUMENTS –
1. Pan2. Adhar card
3. Utility bill (electricity bill, land phone bill,)
4. Rental agreement, utility bill.
5. NOC from land lord
6. Photo
7. Bank statement/ bank pass book
REQUIRED INFORMATION –
1. Name of the signatory authority2. Fathers name of the signatory authority –
3. DOB of the signatory authority -
4. Name of the entity –
5. Business type (proprietorship/ partnership/Pvt ltd/ltd etc.) -
6. Address with pin no –
7. Email.ID –
8. Mobile no-
9. Business activities –
10. Pan card no-
11. Bank account details -
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* only GST registration.
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