All you want to know about:- GST Registration in Haryana

GST Registration in Haryana was established to simplify the taxation process and reduce the burden of the tax on the taxpayer.It also aims at increasing the income of the government.

By registering under GST Acts has many benefits for the company such as giving competitive edge to companies, profits increases, Price of the product reduced and many others. Going through this article will help you to get a full understanding about the GST and its various procedures.

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Under GST registration in Haryana below mention businesses are required to get listed themselves -

• Turnover Based - Suppliers having turnover more than 40 lakhs need to get registration under GST. Failure to do so can lead to penalties and legal implications.
• Inter-State Registration - Trades involved in inter - state supplies have to get themselves registered under GST. Inter- State registration is required when business is done between two states.
• E-Commerce Platform - All E-Commerce businesses need to get GST Registration from anybody who wants to do e-commerce business or who is doing it . As E-commerce is an internet business to start the E-Commerce Business regardless of the turnover of the firm or size of the firm getting GST registration in Haryana is important.
• Voluntary Registration - Under this GST is applied at the voluntary basis.it carries the benefit of taking input tax credit and also increases the legal liability of the entity.
• Casual Taxable Person - Any individuals who have a temporary location for the seasonal supply of goods and services. They operate through temporary shops and stalls regardless of their turnover should apply for GST Registration in Haryana. GST number under GST registration is valid for only 90 days.

The process to get GST Registration can be confusing and lengthy for applicants. There are some basic steps which need to be followed as mentioned below -

• Introduction - First step in GST registration is filling of the GST REG - 01 as there are Part - A and Part - B. In the form's Part - A name, Email ID , PAN Number and mobile number is filled. After the verification of the Mobile No. and Email Id TRN No. is generated.
• Other Details - After receiving the TRN No. then details about the Directors/Partners of the firm, category of goods and services, bank accounts are filled in Part B of the form after submission of the form ARN is generated and which need to be saved for the future.
• Submission of the documents - In the next step documents required for the registration as per the category of the Taxpayer are uploaded on the site.
• Verification of the documents - After the submission of the form and documents comes the stage of verification by the concerned officer this process takes time of 3 to 4 days. In case of the rejection of form, the applicant is given due time to give explanation.
• Issuance of the GST No. In form -GST REG 06 after the acceptance of the form GSTIN is issued to the business filing for the registration.

There are certain features which every business need to be aware are mentioned below:

• GSTIN - One of the main features of GST Registration in Haryana is Goods and Services Tax Identification Number which fulfils the basic objective of the identification under the Tax Regime .It is a 15-digit alphanumeric code in which first two digits indicate the state code.
• Input Tax Credit - Under GST in Haryana businesses can get input tax credit on input used in production of goods and services. With Input Tax Credit overall tax liability of the business is reduced.
• Input Service Distributor - Input service distributor helps in reducing overall tax liability. With Input Service Distributor big businesses with multiple units or branches are allowed distribution of input tax credit to its different units.
• Threshold limit - Businesses having turnover exceeding 40 Lakhs need to be registered under GST Act and 20 lakhs in case of services.

With GST Registration in Haryana both government and entrepreneur are benefitted.There are many benefit as mentioned below :

• Compliance is less - Number of returns filed under GST is less as compared to other tax regimes.
• Regularisation of organised sector - GST Registration helps to manage unorganised sectors. These sectors like construction and textiles have a lot of regulation,responsibility and these compliances are online which result in regularisation and organisation.
• Single unorganised sector - Under GST all taxes are bought under one tax regime to implement single uniform tax across the country.
• Small traders are Benefited - Small businesses are benefited from composition schemes. These Composition schemes reduce tax load and compliance. Under the composition scheme the rate of tax is fixed irrespective of the turnover.
• Cascading effects are reduced - Under Cascading effect tax is imposed at every stage which increases the price of the product by compounding effect. This has been reduced under GST registration as tax is levied when value is added to the product that is why it is also known as Value added tax.

GST registration in Haryana is more about the lessening of compliance and avoidance of penalties than getting registration numbers. It is aid for the government to collect tax too. GST registration in Haryana has many other benefits like reduction in price of product, increase in efficiency of the logistics, reduction of cascading effect, less number of compliances and many other. Get GST Registration in Haryana with professional utilities quick and fast.