How many types of the GST Registration?

GST Registration is the identification of the taxpayer with the registration under the GST Regime. GST Registration is mandatory for the taxpayer to get if the prescribed limit of turnover is exceeded. Any firm or business having turnover of more than 40 Lakhs in the supply of goods and 20 lakhs in the supply of services. 10 lakhs in special states need to register under the GST Registration. With GST Registration, taxpayers enjoy many benefits. Failure to get GST Registration can result in penalties and legal consequences.

Table Of Content

What is GST Registration?

GST Registration is the process of registering a business for the Goods and Services Tax (GST), an integrated indirect tax imposed on the supply of goods and services in India.

On July 1, 2017, GST became effective in India, replacing a number of indirect taxes including the VAT, service tax, and excise duty.

Purpose of the GST Registration

The goal of GST registration is to unify the many indirect taxes imposed on the supply of goods and services.

• Collection of the tax - Under GST Businesses can collect from the customers. They are to submit this GST to the government at regular intervals.
• Trade between Interstate - GST Registration allows the movement of goods and services to comply with GST Regulation. They ensure smooth trading throughout the nation.
• Input Tax Credit - Businesses can use GST on their purchases by claiming the input tax credit. This has the aim of reducing the cascading effect of taxes and avoiding overall tax burden. When a business claims an input tax credit, it means that it can use that credit to offset the GST that was owed on the output supplies.
• Helpful in Government Contracts - Eligibility to the government tender or contracts depends on the GST Registration. GST Registration not only ensures compliance with tax regulations but also transparency.

Different Types of the GST Registration

The GST Registration process would only be possible with an understanding of the different forms of GST Registration. There are different types of GST Registration are mentioned below -

• Normal Registration - This is one of the most common GST Registrations. Any individual or business having a turnover of more than Rs 40 lakh in a financial year engaged in supply of the goods and Rs 20 lakh in a financial year services. 10 lakhs in the northeastern states, Himachal Pradesh, J&K, and Uttarakhand.
• Voluntary Registration - Under this registration taxpayer gets the GST Registration even if he is not eligible to get the GST Registration. By getting GST Registration voluntarily they enjoy the benefit of the GST Registration. They can get input tax credits, increase credibility, application to many other forums, and many others.
• Compulsory Registration - There is a certain situation in which regardless of the turnover it is compulsory for individuals or firms to get GST Registration. For example e-commerce operators or sellers, etc.
• Casual taxable individual - Any taxpayer who is engaged in seasonal or Occasional businesses like opening a temporary store or booth must register as a casual taxable person. They have 3 months of tenure which can be extended and renewed.
• Non-resident taxable individual - Taxable person who is located outside of India either through a principal, agent, or any other.It is valid for the month of the three months but it can be renewed or extended. They have to compulsorily obtain GST Registration before the start of the supply of taxable goods and services. the taxpayer must pay a deposit equal to the expected GST liability.
• Composition Dealers - This Scheme was introduced for lesser compliance. GST is paid at a fixed - rate of interest on the turnover.
• Exempted Registration -

Below mentioned companies are exempted from the GST Registration

• The company is exempt from the requirements for mandatory registration.
• Individuals who offer goods or services that are either GST-exempt or not subject to GST.
• Agriculturists for the provision of crops made through land cultivation.
• Businesses that have a turnover of less than 40 lakhs in the supply of goods and services. 20 lakhs in the supply of services and 20 lakhs for goods and 10 lakhs in service for special category states.

Documents required for the Online GST Registration

List of the documents required to be filled by the taxpayer at the time of the GST Registration as mentioned below -

• Proof of business registration or incorporation certificate
• Permanent Account Number (PAN) of the applicant
• Bank account statement/cancelled cheque
• Photograph
• Aadhaar card
• board resolution for authorised signatory/Authorisation letter
• Digital signature
• Identity and address proof of promoters/directors

Fee For GST Registration

The cost of GST registration is just ₹1,499/- only with Professional Utilities.

Following are the charges of GST registration for different types of Companies

Particulars	GST Registration Fees
Hindu undivided family ( HUF)	₹1,499/-
Individual and sole proprietors
LLP and partnership
Pvt. Ltd and other companies

Conclusion

GST registration is mandatory registration under the GST Regime. There are many types of GST Registration for different taxpayers. It can be obtained simply by filling out the form and submission of the documents. With the purpose of ensuring streamlining the taxation system, facilitating the flow of credits, promoting transparency, and thereby contributing to the efficient functioning of the economy.