GST Registration
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GST Registration
GST (Goods & Service Tax) launched in 1st July, 2017. GST applies on all service (production, trade) providers (only Indian). That business whose turnover exceeds Rs.40 lakhs is required to register as normal taxable entity (This whole process is known as GST registration).
Whole process of GST registration takes around 4 to 5 days. Overall process will be via online. Those organizations running a business without GST registration, they will be offence & have heavy penalties.
Documents Required for GST Registration
- Copy of Pan Card
- Copy of Aadhar Card
- Firm Name
- Address Proof (Electricity Bill/Rent Agreement)
- Bank Details
- Photos
Benefits of GST Registration
- Less tax liability
- Composition scheme for small businesses
- Easy and simple online process
- Legally authorized to collect tax from purchasers
- Apply government tenders
- Can take input tax credit
Frequently Asked Questions
Q. Why GST registration is needed?
Ans. In India, who wants to save tax and prevents yourself from the cascading effect of taxes. GST registration is mandatory.
Q. What is abbreviation of CGST, SGST, IGST?
Ans. The abbreviation of CGST is Central Goods and Service Tax, SGST is State Goods and Service Tax, IGST is Integrated Goods and Service Tax.
Q. Difference between in CGST, SGST, IGST?
Ans. CGST and IGST is leaved by Central Government, whereas SGST is leaved by State Government
CGST and SGST is to be paid for the Intra-State Supply, whereas IGST is to be paid for Inter-State Supply.
Q. What is the limit considered under GST?
Ans. There are different categories of limits under GST.
For Manufacturing Sector – 40 lakhs
For Service sector – 20 lakhs
For North Eastern States – 10 lakhs
Q. What is GST tax rate?
Ans. There are five different rates of GST collection, those are 0%, 5%, 12%, 18% and 28%.


