GST Registration Services

Welcome to PRVS BUSINESS, your dedicated partner in navigating the complexities of Goods and Services Tax (GST) registration. Our team, composed of Chartered Accountants (CAs), Company Secretaries (CSs), Advocates, Lawyers, and MBAs, is committed to providing businesses with seamless and professional guidance through the entire GST registration process. Whether you're a small entrepreneur or a large corporation, we ensure that you meet all regulatory requirements while enhancing your business efficiency and compliance.

What is GST Registration?

GST Registration is a process by which a business becomes legally registered under the Goods and Services Tax (GST) regime. Upon registration, businesses are assigned a GST Identification Number (GSTIN), enabling them to legally collect GST on taxable supplies and avail of Input Tax Credit (ITC) on taxes paid on business inputs. This process ensures that the business complies with the tax framework and is authorized to collect and remit tax to the government

Who is Required to Register for GST?

Certain businesses must mandatorily register for GST under the Act, while others may do so voluntarily. Here are the primary categories of businesses that must register for GST:

1. Businesses Exceeding the Threshold Limit:

  • For Goods Suppliers: ₹40 Lakhs (₹20 Lakhs for special category states).
  • For Service Providers: ₹20 Lakhs (₹10 Lakhs for special category states).
  • For E-Commerce Operators: Irrespective of turnover, e-commerce businesses must register.

2. Interstate Suppliers:

  • Any business involved in the interstate supply of goods or services is required to register under GST, even if the turnover is below the prescribed limit.

3. Casual and Non-Resident Taxable Persons:

  • Casual taxable persons (businesses with no permanent place of business) and non-resident taxable persons must register before starting operations.

4. Other Special Cases:

  • Input Service Distributors and agents of a supplier must also register under GST.

Who is Exempt from GST Registration?

While many businesses are required to register, certain entities are exempt based on their nature of business or turnover. These include:

1. Small Businesses Below the Threshold:

  • Businesses with turnover below the threshold limits do not have to register for GST, though they can opt for voluntary registration.

2. Agricultural Producers:

  • Farmers and agricultural producers engaged in the supply of exempt goods or services are generally exempt.

3. Exporters of Goods/Services:

  • Exporters are exempt from GST registration, as their supply is zero-rated under GST. They can still claim Input Tax Credit (ITC) on inputs.

4. Charitable or Religious Institutions:

  • Non-commercial entities, including charitable or religious institutions, are generally exempt from GST registration unless they engage in taxable activities.

Advantages of GST Registration

Registering under GST offers a number of benefits for businesses, including:

1. Input Tax Credit (ITC):

  • Businesses registered under GST can avail of Input Tax Credit on taxes paid for business-related purchases. This reduces the overall tax liability as the tax paid on inputs can be offset against the tax collected on sales.

2. Enhanced Credibility:

  • GST registration enhances the business’s credibility with customers, vendors, and government authorities, ensuring they are recognized as a legitimate taxpayer.

3. Seamless Movement of Goods:

  • GST facilitates the interstate movement of goods by removing the need for various state taxes and permits, leading to cost savings and smoother operations.

4. Better Compliance:

  • Being GST-compliant ensures that businesses adhere to the latest tax regulations, which helps avoid penalties, interest, and legal issues.

5. Competitive Advantage:

  • Businesses with GST registration can deal with larger clients who may prefer working only with GST-compliant suppliers. Moreover, they can participate in government tenders and contracts which often require GST registration.

6. Simplified Tax Structure:

  • GST consolidates multiple indirect taxes like VAT, excise duty, and service tax into one single tax, simplifying the tax structure and compliance.

7. Access to GST Exemptions and Refunds:

  • Registered businesses can avail of exemptions available under the GST law for certain sectors and refunds for any excess taxes paid, especially exporters.

GST Tax Categories: SGST, CGST, and IGST

GST is divided into three tax categories, depending on the nature of the supply and its location:

1. SGST (State Goods and Services Tax):

  • This is applicable when the supply of goods or services occurs within the same state. The state government collects SGST, and it is typically equal to the CGST rate for intra-state transactions.

2. CGST (Central Goods and Services Tax):

  • This applies when goods or services are supplied within the same state. The central government collects CGST, which is shared with the state government. For example, in an intra-state transaction, both CGST and SGST are applicable.

3. IGST (Integrated Goods and Services Tax):

  • IGST is applicable for the interstate supply of goods and services. When goods are sold from one state to another, IGST is levied by the central government, and it is shared between the states involved. The tax is collected by the central government, but the state’s share is transferred after the transaction.

Intra-state supply: SGST + CGST
Interstate supply: IGST

Voluntary Registration for GST: Who Should Consider It?

While GST registration is mandatory for businesses crossing the turnover threshold, certain businesses may choose to opt for voluntary registration under GST. Here’s why:

1. Businesses Below the Threshold Limit:

  • Small businesses whose turnover is below the threshold may voluntarily register under GST to take advantage of Input Tax Credit (ITC) on their purchases.

2. Enhanced Credibility:

  • Voluntary registration enhances a business’s reputation by demonstrating commitment to legal compliance and professionalism.

3. Ability to Deal with Larger Businesses:

  • Many large enterprises prefer dealing with GST-registered vendors, as it ensures proper documentation and the possibility of claiming Input Tax Credit (ITC).

4. Expansion and Growth:

  • If you plan to expand your business or engage in interstate transactions in the future, voluntary registration gives you the flexibility to grow without worrying about crossing the threshold.

5. Access to Government Contracts and Tenders:

  • Government tenders typically require vendors to be GST-registered, making voluntary registration a key to accessing these opportunities.

6. Smooth Operations for E-commerce Sellers:

  • If you are an online seller or running an e-commerce business, GST registration helps ensure smooth operations, ease of dealing with e-commerce platforms, and eligibility to claim GST refunds.

Penalties and Consequences for Not Obtaining GST Registration

Failure to obtain GST registration, when required, can result in serious penalties and consequences for businesses. Here’s an overview:

1. Penalty for Non-Registration:

  • As per Section 122 of the CGST Act, if a person is liable to be registered under GST but does not apply for registration, they can be subject to a penalty of ₹10,000 or an amount equivalent to the tax due, whichever is higher.

2. Loss of Input Tax Credit (ITC):

  • A business that is not registered under GST cannot avail of Input Tax Credit (ITC) on any taxes paid on purchases, leading to higher overall tax costs.

3. No Ability to Collect GST from Customers:

  • A business that is not registered cannot legally charge GST on its invoices to customers. This may cause issues with clients who require GST-compliant invoices, especially in cases of B2B transactions.

4. Inability to Deal with Large Businesses:

  • Larger companies typically only engage in transactions with GST-registered businesses, and failure to register may limit your ability to work with such clients.

5. Legal Action and Prosecution:

  • In cases of willful tax evasion, legal action may be initiated by the GST authorities. This could lead to prosecution under Section 132 of the GST Act, including imprisonment for up to 5 years in cases involving tax evasion exceeding ₹5 crores.

6. Interest on Unpaid Taxes:

  • If a business fails to register and collect GST on taxable supplies, it will still be liable to pay the tax along with interest for delayed payment. The interest rate can be as high as 18% per annum.

Documents Required for GST Registration

The documentation required varies depending on your business structure. Below is a list of common documents required for different types of entities:

  • PAN Card of the proprietor.
  • Aadhaar Card for verification.
  • Proof of business address (Utility bill, rent agreement, etc.).
  • Bank account details.
  • Photograph of the proprietor.

Get Started with GST Registration Today!

PRVS BUSINESS is here to assist you in completing your GST registration swiftly and accurately, ensuring your business is fully compliant with the latest tax regulations.

  • Market Price: 1499/-
  • Our Price: 499/-

Let PRVS BUSINESS  be your trusted partner in simplifying GST registration and compliance.