GST Registration in Chennai
GST REGISTRATION SERVICES
Under the new tax regime of Goods and Services Tax, all persons involved in the supply of goods or services are required to obtain registration of GST. Threshold limit for registration for those engaged in the exclusive supply of goods enhanced to Rs. 40 Lakhs (Rs 10 lakhs for Northern Eastern and hill states) is required to register as a normal taxable person. However, the threshold for registration for service providers would continue to be Rs 20 lakhs. This process of registration is called GST registration in Chennai, Coimbatore and across Tamilnadu
Once completing the registration process, Gst Registration Consultants in Chennai, Coimbatore will track for receiving a unique GSTIN (Goods & Service Tax Identification Number). It consists of 15 alphanumeric digits which denote as follows – First 2 digits shows the state code, next 10 digits indicates PAN Number of the person who registered, Next 1 digit shows the serial no of serial number of GST registration in the same state, Next comes alphabet “Z” by default, & last digit may come with alphabet or number randomly. Be aware that, GST registration certificate can be downloaded from GST Portal, there are no hard copies of registration certificate will be issued by the Government.
After getting a GST Certificate, it is mandatory to file the Monthly GST Filing in Chennai & also annual return correctly on time to avoid interest and late fees. A taxpayer must file a Nil return even if he doesn’t have any transactions to report for that particular tax period. Even if you need any Tax Consultation & Guidance on any Tax rules & laws, Our Virtual Accounts Manager will help you to sort out your Tax related issues. Apart from GST Registration, you can also register yourself under MSME to get a lower interest rate on loans, to procure Government orders & tenders and other various tax benefits and schemes offered by the Government. We do your MSME Registration in the new Udayam Registration Portal which was launched on 1st July 2020. Existing users of MSME can approach us for re-registration in this new portal. The Old MSME (Udhyog Aadhar Number) will be valid only till 31st March 2021.
Penalty for not registering under GST
An offender not paying tax or making short payments (genuine errors) has to pay a penalty of 10% of the tax amount due subject to a minimum of Rs.10,000.
The penalty will at 100% of the tax amount due when the offender has deliberately evaded paying taxes
LIST OF DOCUMENTS REQUIRED FOR
Legally authorized to collect tax & Claim Input Tax credit.
Registration is though done online but is very complicated and advised to be done by professionals.
Verification of Documents collected based on the Applicant Type
ARN is generated after submission of application on the GST Portal with all information and required documents.
The certificate of GST registration is issued by the GSTIN and GST Number will be allotted in approx a week time.
FILLING APPLICATION FORM
Filing the online Application form for GST Registration. After submission of the application, OTP is sent on the phone and email of the Applicant.
TRACKING APPLICATION STATUS
After generation of ARN, dealing with Respective Authorities & Following until Certificate is granted.
GST Registration – Frequently Asked Questions
What is GST?
What are the types of registration under GST?
- Any business whose turnover in a financial year exceeds Rs 20 lakhs (Rs 10 lakhs for North Eastern and hill states).
- Every person who is registered under an earlier law (i.e., Excise, VAT, Service Tax etc.) needs to register under GST, too.
- When a business which is registered has been transferred to someone/demerged, the transferee shall take registration with effect from date of transfer.
- Anyone who drives inter-state supply of goods
- Casual taxable person
- Non-Resident taxable person
- Agents of a supplier
- Those paying tax under the reverse charge mechanism
- Input service distributor
- E- commerce operators or aggregator
- Person who supplies via e-commerce aggregator
- Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person
Note:- List presented on the basis of the taxable person mandatorily required to register under GST Act.
What are the types of GST?
To do so we have three terms of GST i.e.
What is SGST?
Who should get Registered under GST?
- If your business has previous registration under VAT, Excise Laws, Service Tax Laws
- Businesses having annual turnover more than Rs 40 Lakhs Per Annum (Rs 10 Lakh for North Eastern States) for Supply of Goods and for Service providers Annual turnover more than Rs 20 lakhs.
- If the business is dealing in more than one state
- Selling your goods or services online (like selling on Amazon and Flipkart)
- If you are providing services and goods outside India.
Do I need to charge GST if I am not registered?
What are the types of Taxpayers in GST?
- Monthly taxpayers with Turnover more than 1.5 crores
- Quarterly taxpayers with Turnover less than 1.5 crores
- A person registered under composition scheme
What is CGST?
What is IGST?
What will happen in the case of the death of a proprietor under GST?
There can be 2 circumstances on the death of the sole proprietorship either the business can be transferred legal heir or the business can be discontinued.
It is not advised to continue the business in the deceased name & GST number, It would be better to form a new proprietorship firm.