According to the Goods and Services Tax Act 2017, any business in India with a turnover of 40 Lakhs and above must register for GST. There is a slight change when it comes to the North-eastern and hill states, the turnover threshold for them for GST registration is 20 Lakhs.

GST is something that cannot be taken lightly as it is the Goods and Services Tax that has replaced many indirect tax laws that existed earlier in India. When it comes to documentation, it is of utmost importance to have all the original documents at the time of registration.

The question arises who can make GST Registration and what are the other criteria where it becomes important for an individual to process the same:

  1. Individuals that make an inter-state supply of taxable goods and services.
  2. Individuals with taxability under reverse charge.
  3. Non-resident taxable individuals.
  4. Individuals that are eligible for tax deduction under section 37.
  5. Individuals that supply goods and services on behalf of any other registered taxpayer in the role of an agent or any other practice.
  6. Individuals that act as distributors of input service.
  7. All e-commerce administrators.
  8. Aggregators that supply services under a new brand or trade name.
  9. Any individual or group of individuals reported by the Central or State Government as per the GST Council’s recommendations.

Here is a list of documents that are mandatory for Proprietorship Concerns:

  1. Pan card
  2. Aadhaar card
  3. Bank statement, Cancel cheque in which Assessee name is printed.
  4. Electricity Bill
  5. Proof of Address for Place of Business:
    a. If Owned – Property Tax Receipt/ Electricity Bill/ Government document
    b. Rented – Rent Agreement
    c. Consent – Consent Letter/ NOC
    d. Any Other document
  6. Photo of Assessee
  7. E-mail id and Mobile Number
  8. Nature of Goods and Services provided by the Assessee

Before heading forward for GST Registration, have you wondered how much would it cost you for the same? Businesses whose turnover is above Rs.40 Lakhs in case of Goods and Rs.20 Lakhs in case of service in the previous economy.

Also, to avail the loan for 20 Lakhs Crore under the MSME category, you will need a GST certificate. Every enrolled taxpayer is assigned a GST Registration Certificate in Form GST REG-06.

Did this question ever come across your mind why do you actually need to Register for GST? Yes, of course. So, when you register for GST, you legally get recognized as a supplier of goods and services. A precise accounting of how the taxes were paid on the input goods or services that can be used for payment of GST due to the supply of goods or services or both by the business.

If you are looking for what documents are required for GST registration of a Partnership firm, click here.

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