Any individual engaging in Intra-State movement of supplies and goods with an aggregate turnover of Rs 20 Lakh ( the amount is highly state dependent as it can be as high as 40 Lakh and as low as 10 Lakh) is liable to obtain and operate under GST registration. Thus such persons must acquire dependable knowledge of all documents required for GST registration. This also applies to someone that undertakes inter-state supply (no threshold limitations here).
The GSTIN or GST registration number is a 15-digit number that is provided to the businesses or individuals who registered for one. It is used for tracking tax regulation compliance and business flow, which is then used to determine tax payments. A plethora of documents that vary by the type of company and individual are required for the registration process. Here's a detailed report with all documents required for GST registration and additional information that you may need to get your GSTIN. But first let’s discuss GST.
What is GST?
Goods and services (GST) is an indirect tax levied on the supply of goods and services in India. Excluding a small number of state taxes, GST has subsumed all other indirect state and central taxes. Hence it is a highly comprehensive and multi-staged tax. It replaced the previously practiced point of origin taxation policy with a point of destination or consumption policy. Being a multi-staged tax, it is applied at every step of production but is refunded back to all parties that were involved in production other than the final consumer.
In an intra state business transaction, the distribution of acquired revenue is 50-50 between the centre and state. For example, if the state of Punjab had about 100 crores of tax revenue generated in their state, 50 crores are kept by the state while 50 crores are given to the central government.
For any interstate transaction, wherein there's a movement of goods and services across state borders, GST laws allow the state to import the goods or services to collect the tax. Let's look at another example; in an inter state transaction, goods are exchanged between Punjab and Haryana. In this particular case, Haryana is the state that receives the goods and will be the one collecting the taxes, which will then be divided half and half between centre and state.
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Documents Required For GST Registration( Constitution of Business )
We will be providing two document checklists that need to be fulfilled in order to complete your registration.
Bank Account details: For the bank account details, a cancelled cheque or bank statement ( the first and the last page) is to be uploaded. (Maximum size 100 kb in JPEG/PDF format).
Address Proof: Any of the following can be uploaded
- In case of owned property, the deed of the property.
- Electricity bill copy.
- Property tax receipt.
- Municipal khata copy.
- In case of leased or rented property, the lease or rent agreement.
- NOC/Consent letter from the property owner (submitted with the lease agreement).
Documents required for GST registration based on category
Depending upon the type of GST registration you intend to complete, different documents are needed. This is based on the nature of activities that are being carried out.
Here's a document checklist for your understanding:
Every veritable business owner should possess knowledge of documents required for GST registration for the smooth running of their business. Although it is a relatively complex process, once completed, you're free to focus on your business growth rather than the woes of government red tape.
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Q. Is GST registration free?
Ans: Yes. There are no charges for your online GST registration.
Q. Is a bank account mandatory for GST registration?
Ans: Yes. Bank details are required at every step of the registration process.
Q. What is the GST helpline number?
Ans: Here are some of the helpline numbers that you can use:
- Portal Helpline: 0120-4888999
- Toll-free number: 1800-103-4786