How many types of the GST Registration?

Various types of 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 the GST Registration? 

• Purpose of the GST Registration 

• Different types of  GST Registration

• GST Registration Documents

• Fee For GST Registration

• Process of GST Cancelation

• Conclusion

• Frequently Asked Question

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 ₹999/- only with Professional Utilities.

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

Why Professional Utilities?

At Professional Utilities, we leverage our industry knowledge and expertise to help businesses navigate complex regulations, minimize risks, and optimize operations for maximum efficiency and profitability.

Best Price
Guarantee

Easy Registration
Process

One Stop Corporate
Solution

PAN India
Services

Free Expert
Assistance

Google Verified
Business

Dedicated Support
Staff

Money-Back
Guarantee

How many different kinds of GST numbers exist?

There are different kinds of GST numbers Integrated Goods and Services Tax (IGST), State Goods and Services Tax (SGST), Central Goods and Services Tax (CGST), and Union Territory Goods and Services Tax (UTGST) are the four different versions of GST.

Who Is Exempting from GST Registration?

individuals who, either as agents or otherwise, make taxable supplies of commodities, services, or both on behalf of other taxable individuals; Making a taxable supply by a non-resident. Whether or not they are individually registered under the statute, input service distributors.

What different types of categories of registration exist?

There are many types of Company Registration in India.

• Sole Proprietorship Registration.
• Public Limited Company Registration.
• Limited Liability Partnership (LLP) Company Registration.
• Partnerships Firm Registration.
• Private Limited Company Registration.
• One-person Company Registration.

How many registrations can a normal person take under GST?

There is typically only need one GST registration If a person's business is limited to only that state or UT, However, if he conducts business in two or more states or UTs, he must register for GST in each of those jurisdictions.

Speak Directly to our Expert Today

Get in Touch

Expert Consultation

Affordable

Client Support