GST or Goods and Services Tax is an indirect tax that was introduced to be a replacement for numerous indirect taxes in India. These included VAT (value-added tax), excise duty, service tax, and more. It was made effective from July 2017. The first step to make sure you are GST compliant is to complete GST registration. For that to happen as a smaller business owner, it is essential for you to know all about the GST registration requirements.
Please note that you need to know about GST requirements if your business has a turnover above Rs.40 lacs. For the hill and northeastern states, the turnover limit for GST registration is Rs.10 lacs.
How to create GST number for business?
The documents required to get your business registered for GST will depend on the type of business you are in.
If you are a sole proprietor, then these are the documents you need to submit:
- PAN (permanent account number) of the owner
- Aadhar card of the business owner
- Photograph of the owner
- Address proof
- Details of the bank account
If your business is a Partnership firm or a Limited Liability Partnership, then these are the documents you need to submit:
- A verified copy of the partnership deed
- PAN cards of all the partners
- Partners’ photos
- The aadhar card of the authorized signatory
- Proof that the signatory was nominated
- Proof of registration for the partnership or LLP
- Address proof for the business (head office)
If your business follows the Hindu Undivided Family (HUF) format, then these documents will be required:
- PAN card for the HUF
- Karta, or the leading patriarch’s PAN card
- The Karta’s photograph
- Details of the bank account
- Address proof for the business (main office)
If your business is registered as a limited company (private or public), then the list of documents for GST registration will be longer and will include:
- The PAN card of the company
- Certificate of incorporation from the Ministry of Corporate Affairs
- The articles of association and memorandum of association
- The authorized signatory’s proof of appointment
- The PAN and Aadhar cards of the authorized signatories
- PAN cards of all the directors
- Address proof for all the directors
- Bank account details of the company
- Address proof for the registered office of the company
The authorities have made all efforts to make the process of getting the GST number for online businesses as well as all other businesses simple. Basically, the process involves proof of identity, address proof, photograph (for individuals), and bank details. The list will vary depending on the type of business structure you have. There are no registration fees applicable to register for GST.
Business owners, whether individuals or corporate, have to ensure that GST payments are done on time to meet compliance requirements. At EnKash, we have made it easy and rewarding for you to pay GST via our portal. EnKash also offers a smart spend management portal that enables you streamline finance operations and avail a credit limit of up to Rs.1 crore. Whether you are looking to optimize expenses or improve collections, we have the right solution for you.