What is GST Registration?

The Goods and Services Tax (GST) is a tax on goods and services consumed in India. GST is an indirect tax that has replaced many other indirect taxes in India, such as excise duty, VAT, and services tax. GST has been in force from 1st July, 2017 based on the Goods and Service Tax Act passed by the Indian Parliament on March 29, 2017.

Types of GST Registration

There are various types of GST registration like regular, casual taxable persons, non-resident taxable persons and eCommerce operators. Casual taxable persons, non-resident taxable persons and eCommerce operators are required to obtain GST registration irrespective of turnover limit.

Casual Taxable Persons:
The GST Act defines as a casual taxable person as a person who occasionally supplies goods or services in a State or a Union territory where the entity has no fixed place of business. Hence, persons running temporary businesses in fairs or exhibitions or seasonal businesses would fall under casual taxable person under GST.
Non-resident Taxable Persons:
Non-resident taxable person (NRI) under GST is any person or business or not-for-profit supplying goods or services but have no fixed place of business or residence in India. Thus, any foreign person or foreign business or organisation supplying goods or services to India would be a non-resident taxable person – requiring compliance with all GST regulations in India.
E-Commerce Operators:
Electronic commerce operator is every person who, owns, operates or manages digital or electronic facility or platform for electronic commerce. Thus, any person selling through the internet can be termed as an eCommerce Operator requiring GST registration irrespective of business turnover.

Benefits of GST Registration

The following are some of the advantages of GST registration:

Bank Loans:
GST registration and GST return filing serve as proof of business activity and create track record for a business. Banks and NBFCs lend to businesses based on GST return data. Hence, GST registration can help you formalize your business and get credit.
Supplier Onboarding:
To become a supplier of reputed companies, GST registration is often times a must during the supplier onboarding process. Hence, GST registration can help you get more business.
eCommerce:
GST registration is a must to sell online and through various platforms like Amazon, Flipkart, Snapdeal, Zomato, Swiggy, etc., Hence, having a GST registration will allow you to sell online.
Input Tax Credit:
Entities having GST registration are eligible to collect GST from customer for the supply and offset the liability against GST taxes paid while purchasing various goods and services. Hence, GST registration can help you save on taxes and improve margins.

Document Required for GST Registration

PAN Card

Aadhar Card

Electricity Bill

Telephone Bill

Lease / Rent Agreement

Passport Size Photo

Partnership Deed

Incorporation Certificate

Consent Letter

Property Tax Receipt