In the GST Regime, businesses whose turnover exceeds Rs. 40 lakhs* (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. This process of registration is called GST registration.
For certain businesses, registration under GST is mandatory. If the organization carries on business without registering under GST, it will be an offense under GST and heavy penalties will apply.
Who Should Register for GST?
- Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)
- Businesses with turnover above the threshold limit of Rs. 40 Lakhs* (Rs. 10 Lakhs for North-Eastern States, J&K, Himachal Pradesh and Uttarakhand)
- Agents of a supplier & Input service distributor
- Those paying tax under the reverse charge mechanism
- Person who supplies via e-commerce aggregator
- Every e-commerce aggregator
Documents Required for GST Registration
- PAN of the Applicant
- Address proof of the place of business
- Aadhar card
- Bank Account statement/Cancelled cheque
- Proof of business registration or Incorporation certificate
- Digital signature
- Identity and Address proof of Promoters/Director with Photographs
- Letter of Authorization/Board Resolution for Authorized Signatory