GST Registration

GST stands for goods and service tax. it is an indirect tax which has to be collected from customers when you sell your goods or services and required to be submitted to the government

It is mandatory to get GST registration under-

If your annual turnover exceeds INR 40 Lacs* or
If you are doing inter-state sales or
If you are selling products online through e-commerce portal or
If you are into the import or export business
If you want to raise a tax invoice for your customers
If business participating in exhibition/event outside the State as Casual Taxable Payer

*In case of North Eastern States, an annual turnover threshold limit is INR 20 Lakhs

Yes, you can voluntarily get Registered under GST even if your annual turnover does not exceed the threshold limit (40/20 Lacs).

Registering under GST not only helps you in getting your business recognized as a legal registrant but also help you avail various benefits like avail to raise GST Invoice, avail input tax credit, and much more.

A business needs to get more than one GST number if,

A business entity is supplying goods & services from multiple States, then he/she mandatorily required to register under GST in different States.
Further, any business entity can get multiple GSTIN even if they are operating from a single State under multiple verticals to avoid accounting complexity between multiple businesses.

Illustration XYZ Private Limited doing the business of selling merchandise and also doing the business of selling software from Bangalore only. Still, a company can apply for multiple GST numbers for their different business domain.

If you are supplying goods and services from one state to all over India. You do not need multiple GST Certificates.

If any business entity mandatorily required to register under GST, however, failed to apply or intentionally ignoring the same then business is liable to pay the penalty of 100% of the tax due or INR. 10,000 whichever is higher

The documents required depends upon the type of business you are running as. Following below documents required for GST Registration: -

Passport Size Photograph
Aadhar card or Passport or Driving License
Pan card of business entity
Address proof of business premises
Bank Statement or Cancel cheque or Passbook

ADDITIONAL DOCUMENTS FOR PRIVATE LIMITED COMPANY /LLP /OPC / PARTNERSHIP FIRM

Certificate of Incorporation in case of Company, OPC or LLP
Partnership Deed in case of partnership firm

GSTIN stands for Goods and Service Tax Identification Number consists of 15 digits. This will be get generated from government end when you have successfully applied for GST registration.

First 2 digit denotes represent State in which business registered under GST
Next 10 Digits denotes PAN of business entity
13th digit denotes the number of business located in the same state
Last two digits are randomly generated.

GST rate varies from nature of goods/services you are selling; it ranges from 0% to 28%. To find out GST rate on your business download our GST guide from above

Yes, you can sell both Goods and Services with one GST number, Provided you have listed such Goods/Services while registering under GST.

Yes, in case of individual/sole proprietorship you are free to apply for GST registration on your firm name. Further, you can apply on your personal name as well.

No, both savings and current accounts can be provided for getting registered under GST.

Sure why not, you can start a business from your home. You just need to provide proof of your residential address for getting registered for GST.