GST stands for Goods and Services Tax imposed by the government on the supply of goods and services. It transformed the taxation scenario by incorporating multiple indirect taxes into a single context. GST number which is also known as GSTIN is essential for businesses to operate legally. Not only because of compliance with tax laws but also to avail input tax credits, GSTIN is significant. You can apply for a GST number through online mode.
To apply for GST number registration online, you need to follow a few steps. The application process is a little complex. Thus, you might need an expert to get GSTIN. Meta Future is the best alternative you have. We are offering a range of GST services. This guide will help you to understand better who needs a GST number and detailed documentation required for application. However, to ensure compliance & leverage the benefits offered by GST, it is important to know these elements. Without wasting more time let’s walk through the details.
Who needs a GST Number?
- Any business with an annual turnover exceeding ₹40 lakhs (₹20 lakhs for special category states).
- Businesses involved in the supply of goods or services across state borders.
- Online businesses and sellers on platforms such as Amazon and Flipkart
- Individuals or businesses engaged in the import and export of goods or services.
- Freelancers and professionals providing taxable services.
- Businesses below the turnover threshold can voluntarily opt for GST registration to gain benefits.
Documents required for GST Number Registration Online
- Permanent Account Number (PAN Card) of the business or individual.
- Proof of Business Registration likewise certificate of incorporation or partnership deed.
- Identity Proof of applicant such as Aadhaar card, voter ID, passport, or driving license.
- Address Proof such as Utility bills, rent agreement, or property tax receipts for the business location.
- Bank Account Statement including a cancelled cheque of the business account.
- Passport-sized photograph of the business owner or authorized signatory.
- Digital Signature: Required for certain types of entities.
GST Number Registration Online Process
Penalty for Not Obtaining GST Number
In case you are engaged in taxation activities but still don’t have a GST number then you have to pay penalties up to ₹10,000. Moreover, interest on unpaid tax (up to 18% per annum), and potential prosecution with imprisonment up to 5 years. In addition, you cannot claim input tax credits if not registered which increase your tax burden.
Feel free to connect our team to get GST services and apply for a GST Number. You can call or directly visit us during business hours.
