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Documents required for GST registration
PAN of the GST registration applicant
Proof of business registration or incorporate certificate
Identity & address proof of promoters with photographs
Address proof for the place of business
Bank account statement showing name, address & few transactions
Class 2 digital signature for the authorised signatory
Features of GST Registration
Taxes Subsumed by GST
The GST will consolidate Central Excise Duty, Service Tax, VAT, Central Sales Tax, Customs Duty, Central Surcharge & Cess, Octroi, Luxury Tax, Entertainment Tax, Purchase Tax and a few other indirect taxes. The GST will apply on all goods and services. Even petrol and petroleum products will eventually be subject to it.
The GST council has decided on a four-tier structure. The GST rate will depend on the type of goods and services. Currently, the slab rates are 5%, 12%, 18% and 28%. The rate for gold is yet to be decided, and will likely to be the lowest of all.
CGST & SGST
GST will have a central component (Central Goods and Services Tax or CGST) and a state component (State Goods and Services Tax or SGST). Therefore, centre and state will levy GST on all entities. Inter-state transactions will attract the Integrated Goods and Services Tax (IGST), to be levied by the centre.
Businesses with a supply turnover of over Rs. 20 lakh must register for GST. The key word here is supply, which takes into consideration any turnover, including stock-taking, discounts and freebies. In fact, even those supplying non-taxable goods must register for GST. Business making sales to other states must register for GST, regardless of turnover.
Person engaged in following are mandatorily required to take registration irrespective of threshold limit
- persons making any inter-State taxable supply;
- casual taxable persons;
- persons who are required to pay tax under reverse charge;
- non-resident taxable persons;
- persons who are required to deduct tax under section 37;
- persons who supply goods and/or services on behalf of other registered taxable persons whether as an agent or otherwise;
- input service distributor;
- persons who supply goods and/or services other than branded services, through electronic commerce operator;
- every electronic commerce operator;
- an aggregator who supplies services under his brand name or his trade name; and
- Such other person or class of persons as may be notified by the Central Government or a State Government on the recommendations of the Council.
GST Registration for Foreign Non-Resident Taxpayer
Goods and Services Tax or GST has been implemented in India from 1st July, 2017 and non-resident taxpayers are also required to obtain GST registration and file GST returns. According to the GST Act, “non-resident taxable person” means any person who occasionally undertakes transactions involving supply of goods or services or both, whether as principal or agent or in any other capacity, but who has no fixed place of business or residence in India. All non-resident taxable persons are required to appoint an authorised person in India for the purpose of complying with GST regulations.
Non-resident taxpayers are required to obtain GST registration as a Non-Resident Foreign Taxpayer 5 days prior to the undertaking business in India. An application for GST registration for foreign non-resident taxable person must be made through an authorised agent in India. Once, an application for GST registration is filed, a transaction number would be generated. Using the transaction number, GST deposit must be made by the taxpayer to obtain GST registration in India.
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