Every business in Delhi is free to register for GST on voluntary basis irrespective of its turnover. However, every business whose annual turnover exceeds INR 40 lakhs for goods and INR 20 lakhs for service are compelled to register for GST.
Turnover is basically value of goods or service sold. GST law mentions the term aggregate annual turnover which means turnover of all businesses under one Permanent Account Number (PAN) shall be aggregated to arrive at Aggregated Annual Turnover to compare with threshold limit for GST purpose.
For the purpose of calculating turnover for GST registration threshold following shall be included:
1. Value of taxable sales
2. Value of exempt sales
3. Value of export sales
4. Value of both Intra-state and Inter-state sales
5. Value of stock transfer between different entities within same PAN
6. Sales subject to RCM (reverse charge mechanism)
Following values shall be excluded for the purpose of turnover calculation
• RCM Purchase i.e. purchase under reverse charge mechanism
• CGST/SGST/UTGST/IGST/Compensation cess
Following are the 8 different types of GST registrations in Delhi, which caters to different types of entities/businesses:
1. Regular GST registration
2. Registration in Composition Scheme of GST
3. Casual Taxable Person Registration
4. Registration as Non-Resident Taxable Person
5. Input Service Distributor (ISD) Registration
6. Registration as Tax deductor (in case of TDS) and Tax collector (in case of TCS)
7. E-commerce operator
8. URD (Un-Registered Dealer) Composition scheme
Claiming input tax credit:
Registered suppliers are eligible to claim tax credit on the input used during the value addition process.
Gain legal recognition:
A GST registered supplier is perceived more legally recognized among the buyers of the goods and services, as the supplier is legally authorized to collect the tax from his customers and pass on the credit of input tax to the purchaser or recipient of the goods and services.
Enhance credibility in the market:
Purchasers, suppliers and other stakeholders perceive the GST registered supplier as a party who comply with national tax laws and this enhances his credibility in the market.
Seamless flow of input tax credit at national level:
GST registration gives benefit of seamless flow of input tax credit between suppliers and recipients at national level, which is a great advantage for all businesses.
• Increased compliance burden
• Increased cost on IT infrastructure and training
• Complexity for small businesses
For an Individual or Sole Proprietor
• Owner's PAN and Aadhaar card.
• Owner's photo
• Details of a bank account.
• Proof of address and identity.
• NOC to conduct business on the registration address
• Photo of office (both inside and outside of the office, covering office board, office setup etc.)
• Email ID and mobile number
• Copy of recent utility bill of office address (not more than two months old)
• Valid Class II or Class III DSC or Aadhaar (for E-Sign option) of authorized signatory
• PAN CARD of Partnership firm or LLP.
• Every partner's PAN CARD, including the managing partner's and authorized signatory/ies.
• Copy of the partnership agreement.
• Photograph of all partners and authorized signatures (in JPEG format with a maximum file size of 100 KB).
• The authorized signatory's Aadhaar card, email id and contact no.
• Evidence of the authorized signatory's appointment.
• Partnership deed and registration certificate.
• Details of a bank account.
• Provide evidence of your primary location of business (NOC, rent agreement, ownership document)
• Copy of recent utility bill of office address (not more than two months old)
• Photo of office (both inside and outside of the office, covering office board, office setup etc.)
• Valid Class II or Class III DSC or Aadhaar (for E-Sign option) of authorized signatory
• PAN CARD of the Company.
• Every director's PAN CARD, including the managing director's and authorized signatory's.
• Certificate of Incorporation.
• Photograph of all directors and authorized signatures (in JPEG format with a maximum file size of 100 KB).
• The authorized signatory's Aadhaar card, email id and contact no.
• Board resolution for the authorized signatory.
• Details of a bank account.
• Provide evidence of your primary location of business (NOC, rent agreement, ownership document)
• Articles of Association / Memorandum of Association.
• Photo of office (both inside and outside of the office, covering office board, office setup etc.)
• Copy of recent utility bill of office address (not more than two months old)
• Valid Class II or Class III DSC of authorised signatory
Should you need any consultation or registration assistance service from OnlineCorpServ.com, we are always there to help you with this. Our team of experienced professionals will make the journey smooth and less time consuming for you. We at OnlineCorpServ.com believe in long term relationship, so rest assured from our side we support you on ongoing basis for GST and other services like accounting, taxation, audit etc.
GST registration is registration of business with GST authorities and getting a unique 15 digits Goods and Service Tax Identification Number (GSTIN). This is required so that all the data collection, correlation, analysis, compliance verification etc. can be done for the identified entity.
Following are the key advantages of GST registration:
No person can collect GST or claim input tax credit, without registering himself under GST
If business turnover exceeds the GST threshold limit anytime during the financial year, one needs to register for GST within 30 days from the date of crossing the threshold.
A Regular GST registration Certificate is granted on permanent basis i.e. no renewals required. However, the GST registration certificate is subject to be surrendered, cancelled, suspended or revoked, as per GST laws.
Yes. The proper officer can reject an application for registration after due verification. Where the application submitted is found to be deficient, the proper officer may issue a notice to the applicant electronically within 3 working days from the date of submission of the application and the applicant shall furnish such clarification/documents electronically, within a period of 7 working days from the date of the receipt of such notice.
Yes. a taxpayer can apply for cancellation of GST registration through FORM GST REG-16 in the following circumstances:
Application in FORM GST REG-16 has to be submitted within a period of 30 days of the “occurrence of the event warranting the cancellation”.
To apply for a new registration, you must have following documents:
Note: Your mobile number should be updated with the Aadhaar authorities otherwise you cannot use E-Sign option because OTP will be sent to the number in the Aadhaar database
