Smart Tax-Saving Strategies for Individuals in 2024
Smart Tax-Saving Strategies for Individuals in 2024 Even for salaried professionals, it is possible to manage one's taxes proactively....
GST registration is an important step for the person starting a business in India. Taking GST registration may be a voluntary decision or a mandatory provision as per GST law. There are provisions under which a person is liable to register his business under the GST law and no exemption is provided. Also, there are exemptions under which a person is not liable to take GST registration. The provisions and the person liable and not liable to take GST registration have been provided below and discussed in depth. With this detailed content, we will try to make it easy for you to decide whether you should take GST registration or not. After reading this content if you still have doubts, you can raise your query at mail@naboffice.com. Our team of professionals will simplify your doubt and assist you in taking GST registration.
The Goods and services tax act has come into effect on 1st July 2017, and it incorporated various chapters related to GST returns, GST registration, Place of Provision of goods and services, Time of supply of goods and services and GST assessment proceedings. The chapters include provisions in relation to GST registration that contains the provision relating to exemption from GST registration, the person liable for GST registration, and the person not liable to take GST registration.
The entire process for GST registration is online, wherein a person needs to fill in the details of the proprietor or partners or directors and details of the place of business. At the end of such form and uploading of mandatory documents, it has to be completed with Aadhar authentication. If all the filled details and attached documents are complete in all respect and the proper officer is satisfied with applicant’s details, then GST registration number is allotted.
There are a few benefits every businessman and startup should know.
Section 22(1) of CGST act specifies that every person whose aggregate turnover in a financial year exceeds Rs. 20 lakhs is liable to get registered under the GST act. In special categories state turnover limit is Rs.10 lakhs. The limit of Rs.20 lakhs has been increased to Rs.40 lakhs where a person exclusively deals in goods. So, if you are dealing in service then limit of Rs.40 lakhs will not be available to you.
For Example: Mr. Adani deals in the supply of services in gurgaon. His total aggregate turnover is Rs. 38 lakhs during the current financial year. is he liable to obtain GST registration in gurgaon?
An exemption limit of Rs. 40 lakhs would apply in case of a person dealing in goods. Mr Adani is dealing in supply of services. Hence, he is liable to get himself registered under the GST act.
Information and Documents required for GST Registration
| GST Registration for Individual/Proprietor | GST Registration for Private Limited or Limited Company | GST Registration for Limited Liability Partnership (LLP) |
|---|---|---|
|
1. PAN Number of Proprietor 2. Name of Proprietor as mentioned in PAN 3. Email ID 4. Phone Number 5. Trade Name 6. Type of Registration (Voluntary, Casual, etc…) 7. Existing Registration (IEC, VAT, or any other state/central registration) 8. Promoter Details: a. Name of the person b. Father’s Name c. Date of Birth d. Mobile Number e. Email ID f. Citizenship 9. Principal Place of Business: a. Address of premises* b. Nature of possession (Rented/Leased/Owned)** c. Nature of Business activity 10. Additional place of business (if any) 11. Goods/Commodities supplied 12. Number of Bank accounts 13. State-specific information: a. Professional Tax Employee Code (EC) b. Professional Tax Registration No c. State Excise License No |
1. PAN No of Company 2. Name of company as per PAN 3. Email ID 4. Phone No 5. Trade Name 6. Type of Registration (Voluntary, Casual, etc…) 7. Certificate of Incorporation 8. Memorandum of Association (MOA) 9. Articles of Association (AOA) 10. Director’s Details: a. Name b. Father’s Name c. Date of Birth d. Mobile Number e. Email ID f. Citizenship 11. Board Resolution authorizing person for GST compliance 12. Principal Place of Business: a. Address of premises* b. Nature of possession (Rented/Leased/Owned)** c. Nature of Business activity 13. Additional place of business (if any) 14. Goods/Commodities supplied 15. Number of Bank accounts 16. State-specific information: a. Professional Tax Employee Code (EC) b. Professional Tax Registration No c. State Excise License No |
1. PAN Number of LLP 2. Name of LLP as per PAN 3. Email ID 4. Phone No 5. Trade Name 6. Type of Registration (Voluntary, Casual, etc…) 7. Certificate of Incorporation 8. LLP Deed 9. Partner Details: a. Name b. Father’s Name c. Date of Birth d. Mobile Number e. Email ID f. Citizenship 10. Authorization letter for GST compliance 11. Principal Place of Business: a. Address of premises* b. Nature of possession (Rented/Leased/Owned)** c. Nature of Business activity 12. Additional place of business (if any) 13. Goods/Commodities supplied 14. Number of Bank accounts 15. State-specific information: a. Professional Tax Employee Code (EC) b. Professional Tax Registration No c. State Excise License No |
A GST return is basically a document that comprises information like sales, purchase records, tax payments made on purchases and sales, and other essential details. From time to time, the taxpayer is obliged to file a GST return and pay the required amount of tax to the government as per the rules of GST. The GST returns, based on the type and turnover of business, are filed monthly, quarterly, or annually.
At present, the registered person has to file the following GST returns.
Navigating India’s Goods and Services Tax (GST) framework requires in-depth understanding, accurate documentation, and strict compliance. At Gupta Varun & Co., we provide comprehensive GST services in Gurgaon for startups, SMEs, e-commerce sellers, and corporates.
Whether you need GST registration, return filing, advisory, or litigation support—we’re your one-stop partner for seamless GST compliance.
We assist businesses in registering under GST with precision and speed, Includes:
Smooth business setup is ensured with hassle-free GST registration in Gurgaon.
Stay compliant with our timely return filings for various categories of business.
Includes:
Avoid penalties, mismatches, and late fees with timely GST filings.
This will help in planning a supply chain and tax model to maximize the ITC while reducing related risks, Includes:
Strategic GST planning specifically for your business sector.
We represent clients before GST authorities and ensure that you’re audit-ready.
Includes:
Safeguard your business with robust compliance defense.
No more chasing deadlines. We make sure all the forms, notices, and filings are done on time with accuracy.
Our advisory ensures every eligible purchase gets claimed as credit—thereby maximizing your working capital.
Frequent updates in GST law? We stay updated so you don’t have to. From QRMP to e-Invoicing—we’ve got you covered.
We monitor mismatches, defaults, and risky parameters that could result in assessments or fines.
From registration down to audit, our team does it all. Be it a freelancer, trader, or e-commerce seller, your GST is sorted.
Whether you are a startup looking for guidance or an established company in need of expert compliance support, we’re here to help. Reach out today; our team is just a message away.
Looking for professional guidance on accounting, tax, or compliance matters? Our team is prepared to guide you with solutions tailored to your business goals. Schedule your consultation now and take the first step toward clarity and growth.
We make financial support easy-from your first conversation to your final outcome. Here’s how we help you move forward with clarity:
Do you have questions about tax, compliance, or how to scale your startup? Our team can help with expert, hassle-free advice, tailored to the needs of your business. Let’s build your financial future-together.
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