Who Should Register For GST?
GST is the new taxation system that requires suppliers of goods/services pay taxes once their annual turnover passes beyond a certain threshold. Any supplier with an annual turnover of more than INR 20,00,000 is required to register for GST. The threshold for special States (Assam, Manipur, etc.) is more than INR 10,00,000 for GST Registration.
A business must register for GST if they supply goods or services across State borders or from one State to another. Additionally, a business is required to register for GST if they paid and were registered under VAT, Service Tax or Central Excise Registration
Documents Required For GST Registration
The list of documents required for GST registration include:
Permanent Account Number (PAN)
Every business must obtain a PAN or Permanent Account Number for their business. An applicant cannot register for GST without a PAN.
The proprietor, Partners, Karta, Trustees, Board of Directors, CEO, etc or whoever responsible should submit address proof documents for registering GST. Documents relating to address proof include passport, driving license (DL), Voter ID, EPIC card, Aadhaar Card, ration card, etc.
- Identity Proof
An applicant must also submit documents relating to proof of identity along with photographs. The documents relating to identity proof include passport, driving license (DL), Voter ID, EPIC card, Aadhaar Card, PAN, etc.
Proof of Registration (Business)
A proprietor and his/her business are a single legal entity (legal and tax). So, apart from a sole proprietor, all businesses (and types of entities) must submit documents relating to proof of business registration. Acceptable proof of registration for a Partnership is the Partnership deed, for a Company or LLP is the Certificate of Incorporation (MCA) and for trusts, associations, societies, etc. is the registration certificate.
Registered Office Address Proof
The address proof of the registered office is essential when applying for GST registration. The documents that are acceptable for address proof for the office include:
- Owned Premises: Municipal Karta, Property Tax receipt or a copy of the electricity bill of the premises.
- Rented/Leased Premises: A valid rental agreement (or copy/affidavit) along with Municipal Karta, Property Tax receipt or a copy of the electricity bill of the lessor.
- SEZs: Documents issued by the Central Government need to be furnished for offices located within Special Economic Zones.
- Others: A letter of consent from the premises owner along with supporting documents are valid as registered office proof.
A valid bank account is essential when applying for GST. To verify the validity and authenticity of the bank account, an applicant should submit a scanned copy of the first page of their bank passbook or a canceled cheque. The passbook/cheque must contain details relating to bank account number, proprietor of the business, IFSC code, MICR code, etc.
DSC or Digital Signature
A digital signature certificate (DSC) serves as an applicant’s signature on a document. When registering for GST, an applicant must sign using a Class 2 DSC. Thus, an applicant must apply for a digital signature before applying for GST.