Goods and Service Tax (GST) is the tax levied by the Central Government of India to subsume most of the previously existed taxes like State Tax, Excise Duty, VAT, Service tax, entry tax and even the customs duty.
GST has first introduced during the financial year 2017-18 and is effective from July 1, 2017. It has reduced complexities and compliances of doing business for millions of small businesses in India. By abolishing and subsuming multiple taxes into a single system, tax complexities would be reduced while tax base is increased substantially.
Under the new GST rule, all businesses in India involved in buying or selling goods and / or services with a minimum threshold turnover, are required to obtain GST registration. Companies without GST registration would not be allowed to collect GST from customer or claim input tax credit of GST paid. Further, GST registration is mandatory once an entity crosses the minimum threshold turnover.
As per the GST Council, entities in the Northeaster and hill states with an annual turnover of Rs.10 lakhs and above would be required to obtain GST registration. For all other entities in rest of India would be required to obtain GST registration, if annual turnover exceeds Rs.20 lakhs. Entities required to obtain GST registration as per regulations must file for GST registration within 30 days from the date on which the entity became liable for obtaining GST registration.
The list of documents required for GST registration of different type of businesses are different. For example Private Limited, LLP, OPC all have different set of documents. Given below are documents required for GST registration for each of the business entity type.
1. Documents required for GST for Private Limited Company (Pvt Ltd), Public Company (limited company) and One person company (OPC):
– List of Documents of the Company
- PAN card of the company
- Registration Certificate of the company
- Memorandum of Association (MOA) /Articles of Association (AOA)
- Copy of Bank Statement
- Declaration to comply with the provisions
- Copy of Board resolution
– List of Documents of Directors of the Company
- PAN and ID proof of directors
– List of Documents of companies Registered Office
- Rental Agreement (if the premise is rented) or Proof of ownership (if the premise are owned)
- No objection certificate of the owner
- Utility Bill Copy such as electricity bill/landline telephone bill
2. Documents required for Limited Liability Partnerships (LLP):
– List of Documents of the LLP
- PAN card of the LLP
- Registration Certificate of the LLP
- LLP Partnership agreement
- Copy of Bank Statement of the LLP
- Declaration to comply with the provisions
- Copy of Board resolution
– List of Documents of Designated Partners of LLP
- PAN and ID proof of designated partners
– List of Documents of companies Registered Office
- Rental Agreement (if the premise is rented) or Proof of ownership (if the premise are owned)
- No objection certificate of the owner
- Utility Bill Copy such as electricity bill/landline telephone bill
3. Documents required for Partnership Firms
– List of Documents of Partnership firm
- PAN card of the Partnership
- Partnership Deed
- Copy of Bank Statement
- Declaration to comply with the provisions
-List of Documents of Partners
- PAN and ID proof of designated partners
– List of Documents of Registered Office
- Rental Agreement (if the premise is rented) or Proof of ownership (if the premise are owned)
- No objection certificate of the owner
- Utility Bill Copy such as electricity bill/landline telephone bill
4. Documents required for Sole proprietorship/Individual
– Individual’s documents
- PAN card and ID proof of the individual.
- Copy of Cancelled cheque or bank statement.
- Declaration to comply with the provisions.
– List of Documents of Registered Office
- Rental Agreement (if the premise is rented) or Proof of ownership (if the premise are owned)
- No objection certificate of the owner
- Utility Bill Copy such as electricity bill/landline telephone bill
Spacelance help customers to Register the company and obtain GST without renting a physical space. Please call us the above numbers. Or sign up online at https://www.spacelance.com/signup