5 Nov 2020, 09:46 — 6 min read
The Goods and Service Tax (GST) is a comprehensive and destination-based indirect tax levied on the supply of goods and services. If you are applying for GST registration for your business, you need to submit certain documents along with your application. Go through this article to know about the list of documents required for GST registration.
Please keep the following documents needed for GST registration process-
Make sure to submit self-attested documents for GST registration. These GST registration documents will be verified by the authority for their validity. Therefore, you should be careful while submitting documents required for GST, if you want to avoid unnecessary delays.
GST is a multi-stage tax, charged at every point of sale. It has replaced many indirect taxes such as the service tax, Value Added Tax (VAT), central sales tax, excise duty, additional customs duty, and so on. To introduce GST as a comprehensive tax, the Government passed the Goods & Services Act which came into effect from 1st July 2017. This day is celebrated as ‘GST Day’ every year.
Initially, the GST Act stated that businesses exceeding an annual turnover of Rs 20 lakhs needed to register themselves as a taxable entity. But, as decided in the 32nd GST Council Meeting in January 2019, states were given options to either opt for new limits or to continue with the previous ones. This new limit came into effect from 1st April 2019 onwards. Many states opted to raise this limit to Rs 40 lakhs for the sale of goods. However, there was no change in the threshold limits for service providers.
This process of registering a business entity in the GST regime is GST registration. It can be done easily on the GST registration portal online. The Government has not described any registration fees as such. But, you may need to bear a professional fee if you hire the services of a consultant or CA for GST registration.
For certain businesses, it is a criminal offense to operate without doing GST registration. Therefore, you must apply for GST registration if you have not done so far. You need to submit certain documents required for GST registration of individual entities, along with your application.
Now that you are aware of the GST registration documents list, let’s discuss certain benefits of GST registration.
The following entities should mandatorily do GST registration-
Also read: How to register for GST online?
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