GST Registration

5 Points You Must Know About GST Registration

1. Selection of Right GST Scheme:

The selection of a suitable GST scheme is of utmost importance. Whether you opt for composition or regular scheme is a matter of careful selection. Simply selecting a composition scheme for convenience may not be the right choice for your business.

2. Correct HSN Code:

It is essential to put the correct HSN code while applying for new registration. You must cross-check the HSN code mentioned in the application form.

3. GST Compliant Invoice Format :

As per the GST rules and regulations, the Invoice must contain the pre-prescribed fields; otherwise, the department may impose a penalty.

4. Compulsory Records and Registers:

To avoid any future legal problems, you should also be aware of the records and registers required to be maintained as per the GST rules and regulations.

5. GST Return Timeline:

You should also be aware of the due dates of returns applicable to your business. Even there is no business activity after the registration, you need to file a “Nil” return. This “Nil” also has to be filed within the due date to avoid penalty.

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FAQ`s Regarding GST Registration

The validity of GST registration is lifelong. However, the validity of temporary registration is 90 days.

GST number, also known as GSTIN, is a unique 15 digit identification number issued to every taxpayer registered under GST. This number is PAN-based.

No, GST registration is not mandatory for MSME. However, the general GST registration rule is also applicable to MSME.

Step-1: login to the GST website by using a user id and password.
Step-2: Navigate to Services > Registration>Track Registration status> again select registration from the drop-down menu.
Step-3: Enter the ARN number and click on Search. Now, the screen will show your GST registration status.

GST registration usually takes seven working days.

Step-1: login to the GST website by using a user id and password.
Step-2: Navigate to Services > User services> View/download certificate
Step-3: Click on the download icon to download the certificate.

In the case of new GST registration, a no-objection certificate is required from the premise’s owner. This no objection letter is also known as a consent letter. This letter is issued by the owner stating his no objection regarding the use of the premises for registration purposes under the GST.

There is no prescribed format of consent letters. But, the owner of the premises must give his no objection regarding the registration of premises under the GST.

The GST registration limit depends upon the state/UT where the business is situated. States/UT has been divided into the “Normal” and “Special” category for this purpose. The registration limit for the “Normal” category is as follows:
For the sale of goods: Aggregate Turnover exceeds Rs. 40 Lacs
For the sale of Services: Aggregate Turnover exceeds Rs. 20 Lacs

The registration limit for the “Special” category is as follows:
For the sale of goods: Aggregate Turnover exceeds Rs. 20 Lacs
For the sale of Services: Aggregate Turnover exceeds Rs. 10 Lacs

No. a trade license is not mandatory for GST registration.

There is no requirement that the consent letter should be written on stamp paper. However, in case of any suspension, GST officials may require it on stamp paper.

Letter of authorization for GST is usually issued for GST registration. However, it can be given for purposes other than registration. It is simply an authority letter favouring someone to sign or do all other works on behalf of the person issuing the authorization letter.

Yes, GST registration is mandatory for the export of services. The export of services is an interstate supply and is liable for registration. Technically speaking, there is an exemption of 20 Lacs, but it is better to take registration for all practical purposes to avoid any legal issue.

A certificate from CA is required for getting the refund of GST where the amount involved is more than Rs.2 Lacs. This certificate is to be issued as per Annexure 2 of Form GST RFD 01.

A GST clearance certificate is issued by the GST department certifying that the taxpayer has paid all his GST tax until the date mentioned in the certificate and no GST is pending or due.

The applicability of GST on directors` remuneration depends on whether it is paid out of employee and employer relationship or otherwise. No GST is applicable if it is paid out of the employee and employer relationship. If it is paid otherwise, then the GST is applicable on a reverse charge basis.

The meaning of “export of services” under GST is quite different from what we usually understand. We usually understand that when services are provided to a person outside India and payment is received in foreign exchange; then it should be an export of services. However, in GST, some additional conditions need to be fulfilled. The concept of “distinct person” and “place of supply” also plays a role in this determination under GST. The relevant sections are 2(6), explanation 1 in section 8, and section 13 of the IGST Act. One has to see various circulars, notifications, and FAQs issued by the department also. So, it is better to take the services of an expert to determine whether your case falls under the definition of export under GST or not.

GST late fee calculator is an online utility that helps determine the calculation of the late fee for a particular period. As the late fee varies from state to state and from particular month to month, it is better to use these online utilities. Simply searching “gst late fee calculator” in Google will give us plenty of options. We can select any of them.

The usual rate of interest is 18% per annum in case of GST late payment. However, in case of reversal of wrong input tax credit or adjustment of previous output tax error, the interest rate is 24% per annum.

Step-1: login to the GST website by using user id and password
Step-2: Navigate to Services > Track Application Status
Step-3: Select the Refund option > Enter ARN or Filing Year
Step-4: Click SEARCH to check GST refund status.

Step-1: login to the GST website by using user id and password
Step-2: Navigate to Services > Registration>Amendment of Registration Non-core Fields> authorised signatory
Step-3: Click on the ‘Add new’ button. Put the new mobile number you want to keep and click the save button.