What is GST REGISTRATION?
- In the GST Regime, businesses whose turnover exceeds Rs. 40 lakhs* (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. This process of registration is called GST registration.
- For certain businesses, registration under GST is mandatory. If the organization carries on business without registering under GST, it will be an offence under GST and heavy penalties will apply.
- GST registration usually takes between 2-6 working days. We’ll help you to register for GST in 3 easy steps.
- *CBIC has notified the increase in threshold turnover from Rs 20 lakhs to Rs 40 lakhs. The notification will come into effect from 1st April 2019.
Who Should Register for GST?
- Individuals registered under the Pre-GST law (i.e., Excise, VAT, Service Tax etc.)
- Businesses with turnover above the threshold limit of Rs. 40 Lakhs* (Rs. 10 Lakhs for North-Eastern States, J&K, Himachal Pradesh and Uttarakhand)
- Casual taxable person / Non-Resident taxable person
- Agents of a supplier & Input service distributor
- Those paying tax under the reverse charge mechanism
- Person who supplies via e-commerce aggregator
- Every 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.
Documents Required for GST Registration
- PAN of the Applicant
- Aadhaar card
- Proof of business registration or Incorporation certificate
- Identity and Address proof of Promoters/Director with Photographs
- Address proof of the place of business
- Bank Account statement/Cancelled cheque
- Digital Signature
- Letter of Authorization/Board Resolution for Authorized Signatory
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
Types of GST Returns
GST return is a format where a taxpayer registered under the Goods and Services Tax (GST) law has to file for each registration separately.
Also, the number of GST returns to be filed will be based on the type of taxpayer, such as
- Regular taxpayer,
- Composition dealer,
- e-commerce operator,
- TDS deductor,
- Non-resident taxpayer,
- Input Service Distributor (ISD) etc.
Usually, a regular taxpayer has to file two returns per month (GSTR-1, GSTR-3B) and an annual return (GSTR-9/9C) for each GST registration separately
Types of GST Returns
- GSTR-12. GSTR-2A
- GSTR-4 / CMP-08
Late filing of GST Returns
Return filing is mandatory under GST. Even if there is no transaction, you must file a nil return.
- You cannot file a return if you do not file previous month/quarter’s return.
- Hence, late filing of GST return will have a cascading effect leading to heavy fines and penalty.
- The late filing fee of the GSTR-1 is populated in the liability ledger of GSTR-3B filed immediately after such delay.
Interest/late fees to be paid
- Interest is 18% per annum. It has to be calculated by the taxpayer on the amount of outstanding tax to be paid. It shall be calculated on the Net tax liability identified in the ledger at the time of payment. The time period will be from the next day of filing due date till the actual date of payment.
- As per GST Act Late fee is Rs. 100 per day per Act. So it is 100 under CGST & 100 under SGST. Total will be Rs. 200/day. The maximum is Rs. 5,000. There is no late fee on IGST.
1. What is an eWay Bill?
EWay Bill is an Electronic Way bill for movement of goods to be generated on the eWay Bill Portal. A GST registered person cannot transport goods in a vehicle whose value exceeds Rs. 50,000 (Single Invoice/bill/delivery challan) without an e-way bill that is generated on ewaybillgst.gov.in.
Alternatively, Eway bill can also be generated or cancelled through SMS, Android App and by site-to-site integration through API.
When an eway bill is generated, a unique Eway Bill Number (EBN) is allocated and is available to the supplier, recipient, and the transporter.
2. When Should eWay Bill be issued?
eWay bill will be generated when there is a movement of goods in a vehicle/ conveyance of value more than Rs. 50,000 (either each Invoice or in aggregate of all invoices in a vehicle/conveyance) –
- In relation to a ‘supply’
- For reasons other than a ‘supply’ ( say a return)
- Due to inward ‘supply’ from an unregistered person
For this purpose, a supply may be either of the following:
- A supply made for a consideration (payment) in the course of business
- A supply made for a consideration (payment) which may not be in the course of business
- A supply without consideration (without payment)In simpler terms, the term ‘supply’ usually means a:
- Sale – sale of goods and payment made
- Transfer – branch transfers for instance
- Barter/Exchange – where the payment is by goods instead of in money
Therefore, eWay Bills must be generated on the common portal for all these types of movements. For certain specified Goods, the eway bill needs to be generated mandatorily even if the value of the consignment of Goods is less than Rs. 50,000:
- Inter-State movement of Goods by the Principal to the Job-worker by Principal/ registered Job-worker***,
- Inter-State Transport of Handicraft goods by a dealer exempted from GST registration
3. Who should generate an E-Way Bill?
- Registered Person – E-way bill must be generated when there is a movement of goods of more than Rs 50,000 in value to or from a registered person. A Registered person or the transporter may choose to generate and carry e-way bill even if the value of goods is less than Rs 50,000.
- Unregistered Persons – Unregistered persons are also required to generate e-Way Bill. However, where a supply is made by an unregistered person to a registered person, the receiver will have to ensure all the compliances are met as if they were the supplier.
- Transporter – Transporters carrying goods by road, air, rail, etc. also need to generate e-Way Bill if the supplier has not generated an e-Way Bill.
4. Validity of E-Way Bill
An e-way bill is valid for periods as listed below, which is based on the distance travelled by the goods. Validity is calculated from the date and time of generation of e-way bill-
|Type of conveyance||Distance||Validity of EWB|
|Other than Over dimensional cargo||Less Than 100 Kms||1 Day|
|For every additional 100 Kms or part there of||additional 1 Day|
|For Over dimensional cargo||Less Than 20 Kms||1 Day|
|For every additional 20 Kms or part there of||additional 1 Day|
Validity of Eway bill can be extended also. The generator of such Eway bill has to either four hours before expiry or within four hours after its expiry can extend Eway bill validity.
5. Documents or Details required to generate eWay Bill
- Invoice/ Bill of Supply/ Challan related to the consignment of goods
- Transport by road – Transporter ID or Vehicle number
- Transport by rail, air, or ship – Transporter ID, Transport document number, and date on the document
Blocking and Unblocking of E-way Bill
- E-way bill generation is blocked for taxpayers who have not filed their returns for the previous two consecutive months/quarters.
- Thus, if a taxpayer has not filed GSTR-3B for two or more consecutive months, then he/she cannot generate e-way bills to do dispatches and receive goods, resulting in a standstill.
- Only when a taxpayer files GSTR-3B, the e-way bills will get unblocked on the next day.
- The system of e-way bill blocking was implemented from the 2nd of December 2019.
- ALL BUSINESS REGISTRATION(OTHER THAN COMPANY)
- COMPANY REGISTRATION & COMPLIANCES.
- INCOME TAX RETURN AND ITR NOTICES AND SCRUTINY CASES.
- ESI, PF, MSME, STARTUP REGISTRATION.
- AUDITING SERVICES.
- DIGITAL SIGNATURE (DSC)
- IEC CODE AND ISO REGISTRATION.
- ROC AND ANNUAL COMPLIANCES
- GST RETURNS AND REGISTRATION, E-WAY BILL AND COMPLIANCES.
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