Everything that you need to know about the :- GST Registration in Punjab

GST Registration in Punjab was established so that the existing tax structure gets clarified. GST Registration in Punjab has many benefits that can be enjoyed by the assessee like reducing cascading effect, improving credibility, improving logistics etc. To learn more about the GST Registration process, read the page.

Professional Utilities helps in getting GST Registration in an effortless and smooth manner.

There are different types of registration as mentioned below -

• E- Commerce - Every E-commerce operator in Punjab involved in supply of goods and services through E-commerce platform required to take GST Registration regardless of turnover.
• Interstate Business - Any Business engaged in supply of goods and services from one state to another state is required to get GST registration in Punjab.
• Casual Taxable Person - Any business which is involved in seasonal services like temporary shops or stalls need to take GST Registration irrespective of the turnover.
• Compulsory Registration - These businesses need to take registration under GST whatever may be the turnover.
• Composition Scheme - The Composition Scheme is for small businesses to have hassle -free and simplified Procedure. Small Businesses having limited turnover of 1.5crores can opt for this option.
• Voluntary Registration - Under this registration in GST act. Taxpayers get the Registration voluntarily even if he is not eligible to get registration.
• Aggregate turnover -Under GST Registration firms engaged in supply of goods and services having turnover of 40 lakhs are required to get registration in GST.

GST Registration required certain step those need to be followed are mentioned below -

• Step 1 - Under GST registration after login Part - A form GST REG 01 needs to be filled. In that form Name,Mobile No., Email No. are entered which are verified and TRN No. is issued.
• Step 2 - Under GST Registration Part - B of Form GST REG 01 is filled. In that Bank detail, business detail and authorised signatory detail.
• Step 3 - Upload the required documents in the given format and size. Documents like Bank statements, Aadhar Card, PAN Card etc. then ARN No. is issued.
• Step 4 - After the filling of the forms along with documents. Those documents are verified by the officer accordingly, form is rejected and accepted and the applicant is given 3 to 4 days to give any kind of explanation.
• Step 5 -After verification and clarification officier under GST REG 06 issue GST Certificate and GSTIN.

There are many feature of the GS registration in Punjab as mentioned below-

• Input Tax Credit - Input Tax Credit can be claimed by the register business on their purchases even if they take GST registration voluntarily.
• Threshold limit - Companies who have turnover of Rs.40 lakhs who engage in supply of the goods and 20 lakh in supply of the services. Businesses to that limit are exempted from taking the GST Registration.
• PAN Card - To get GST Registration in Punjab it is mandatory to have a PAN Card. GST Registration is PAN based.
• Input Service Distributor - All businesses having division and branches in Punjab need to obtain GST registration in Punjab. Input Tax Credit can avail among the various units of organisation.

Introduction of the GST registration in Punjab has reduced the tax complexity.This tax reform has resulted in an increase of taxpayers in addition to increase in company efficiency. There are many benefits of getting GST Registration in Punjab as mentioned below -

• Small Businesses are benefitted - Provisions are made to provide benefit to the small enterprises with the option of composition plan. As a result of the composition Plan there is reduction in tax load and compliances.
• Unorganised sectors are regulated - Many Unorganised sectors like construction and textiles are unorganised and unregulated. There are several provisions made to regulate and organise these industries giving many good grip to the government.
• Compliances are less - Compliances under GST is much lower than any other taxation in India.
• Simple and Easy - Entire GST registration process in Punjab is completely online and with simple procedures which make it easy for the tax-payer to follow the rules .

There are many benefits to get registration under GST as the procedure is easy, increase the income of the government, profit of the entrepreneur and decrease the cost of the products by reducing many taxes. Different businesses need different documents for GST Registration Punjab. After following the process and verification of the documents it is easy to get the GST Registration.