GST Registration with the Experts of Legal Bharat Services

What is GST (Goods and Services Tax) registration?

It is a process through which businesses are required to register themselves under the GST regime. GST is a unified indirect tax system that replaces various taxes like VAT, excise, service tax, and more. Here's an overview of GST registration:

Online Registration: GST registration is done online through the GST portal provided by the government tax department. The process involves filling out an application form and submitting the required documents.

Voluntary Registration: Even if a business's turnover is below the threshold, they can opt for voluntary GST registration to avail of the benefits of input tax credit and appear more credible to customers and suppliers.

The Benefits of GST registration :

1. Legal Recognition – Your business is recognised as a legal supplier of goods/services.
2. Input Tax Credit – You can claim credit for GST paid on purchases.
3. Better Compliance – Avoid penalties and ensure smooth business operations.
4. Expansion Opportunities – Helps in interstate business without restrictions.
5. Improves Credibility – Builds trust with customers, vendors, and partners.
6. Easier Access to Loans – Registered businesses are more likely to get funding.

GST is required for businesses with turnover above the threshold to legally collect tax and claim input credit on purchases.

Types of GST:

GST is usually categorised into CGST (Central GST), SGST (State GST), and IGST (Integrated GST) for inter-state transactions. UTGST (Union Territory GST) is applicable in union territories without a legislature.

Documents Required for GST Registration:

The specific documents required can vary, but commonly needed documents include the PAN (Permanent Account Number) of the business, identity and address proofs of promoters, partners, and directors, business address proof, bank account details, and photographs.

Business Details: Basic details about the business, such as its name, legal structure (proprietary, partnership, company, etc.), and contact information, are provided during registration.