As per Goods and Services Tax Act, 2017, all people involved in the conduct of businesses that provide products and/or services, must be registered under GST. At present, the threshold limit for GST registration is ₹ 40 lakh for the supply of goods and ₹ 20 lakh for services. However, the amount varies for north-eastern states and Hilly regions, where the threshold limit is at ₹ 20 lakhs (for goods only), under special category states.
Upon registration,a unique GST Identification Number (GSTIN) pertaining to your business/serviceis provided to you. The GSTIN is a 15-digit alphanumeric code of which, the first2 digits denote the state. In our case, 33, for Tamil Nadu. The next 10 digits denote the PAN number of the person on whose name the business/service is registered. The next digit indicates the serial number of GST registration in the state followed by “Z” by default and the last digit is a random alphabet/number.
Upon successful registration, hard copy of the registration certificate is NOT sent to you. However, this certificate has to be downloaded from the GST Portal only.
After obtaining the GST Certificate, it is mandatory to file GST returns every month. Even if your business/service doesn’t have any transactions during a certain period, it must be filed as Nil-returns. This will help avoid unnecessary interests and late fees. While, it is a straightforward process, it could be confusing for people with no prior experience. That is why, at Sabari & Co., we provide GST registration services in Chennai to help you in your GST registration.
If you are running a Proprietorships, Partnership Firm or Private Limited Company, you can apply for MSME Registration. The new Udyam Registration is on way and you can register your new business or re-register your old business (having UdyogAadhar) in the official website of Ministry of MSME’s. The registration is free of cost and we from Sabari & Co are more than willing to help you in the registration process.
Kindly note that the UdyogAadhar Number is valid only until 31st March 2021. Hence, we urge you to update your certificates with Udyam registration.
List of Documents required for GST Registration
- Aadhar card with essential KYC Documents (Passport, driving license, Voters’ identity card, etc.)
- Valid Mobile Number (Indian Telecom Number)
- Valid email address
- Applicant’s Pan Card
- Address proof of the Place of Business (Rent agreement, EB Card or Property Tax Receipt, For Own Building Proof of Ownership )
- Photograph (in JPEG format, max size – 100 KB)
- Partnership Deed (in case of Partnership Firm).
- Digital Signature (if available)
Penalty for not registering under GST
If the Person crossed the threshold limit should register his business under the GST regime. As per Section 122 of GST Act who fails to take registration then he liable to pay the penalty of Rs.10,000/- or the amount of tax evaded whichever is higher.
However, if a person deliberately avoids paying taxes, the penalty is set at 100% of the tax amount.