GST Registration & Return Filing

GST Registration & Return

Under Goods and Services Tax (GST), businesses whose turnover exceeds the threshold limit of Rs.40 lakh or Rs.20 lakh or Rs.10 lakh as the case may be, must register as a normal taxable person. It is called GST registration. For certain businesses, registration under GST is mandatory. All GST registered businesses have to file monthly or quarterly GST returns and an annual GST return based on the type of business. These GSTR filings are done online on the GST portal.

1. GST eliminates the cascading effect of tax
2. Higher threshold for registration
3. Simple and easy online procedure of return filing
4. Lesser compliances
5. Tax credit on purchase

For more details please contact us

Frequently Ask Questions and Answers : GST Registration

1. When I need GST Registration?

For businesses dealing in goods, GST registration is exempted up to a turnover of ₹40 lakhs, while for service-based businesses; the exemption limit is ₹20 lakhs. However, even if your turnover is below these limits, obtaining a GST number can still be essential in many cases. For instance, most e-commerce platforms, inter-state business transactions, some bank current account applications, and partnerships with larger companies often require GST registration. Additionally, a GST number is necessary to qualify for business loans like cash credit, MSME loans, SME loans, government subsidy schemes, and startup funding. Registering for GST can also enhance your credibility, helping you present yourself as a trusted business owner and creating better business opportunities.

2. Can I register from Residential address?

As per the latest practice, you cannot register for GST using a residential address unless you are operating a digital or virtual service-based business where no physical visits are required.

3. Should I do PAN, Aadhar & Mobile link before GST registration?

Yes, linking your PAN with Aadhaar is recommended before applying for GST registration. The PAN-Aadhaar link is essential because GST verification often requires Aadhaar authentication to complete the registration process. Also, it’s advisable to link your mobile number to your Aadhar before applying for GST registration.

4. Can I do multiple GST Registration on the same address?

Yes, you can have multiple GST registrations for the same address if you operate more than one business (with different business verticals) from that location. Each business must have a unique PAN and meet the necessary requirements for GST registration, but using the same address is permissible under GST rules.

5. Can I get multiple GST Registration on same Pan Card?

No, you cannot obtain multiple GST registrations under the same PAN card. In GST, each unique registration under the same PAN is known as a "GSTIN" (GST Identification Number).

6. Is the Notary agreement acceptable for GST Registration?

A notarized rental agreement is no longer accepted for GST registration. For GST purposes, a registered rent agreement is required.

7. Do I require supporting Address proof for GST Registration?

Yes, you are required to provide one supporting address proof document for GST registration.

8. Can I use the same mobile no or email ID for multiple GST registrations?

As per the latest practices and guidelines from GST officers, you cannot use the same mobile number and email ID for multiple GST registrations. Each mobile number and email ID must be linked to a specific PAN and Aadhaar.

9. Are there any chances of receiving GST Department notice of not registered for GST while Income Tax Return filing for turnover above threshold limit?

Yes, there is a chance of receiving a GST department notice if your turnover exceeds the GST registration threshold limit and you have not registered for GST. This can happen when the Income Tax Return (ITR) is filed and the turnover mentioned in the return exceeds the GST registration threshold (₹40 lakhs for goods suppliers or ₹20 lakhs for service providers).

10. Do I need Parents NOC on affidavit?

Yes, if you are applying for GST registration using your parents' property, a No Objection Certificate (NOC) from your parents may be required. While it doesn’t always have to be on an affidavit, some jurisdictions or GST officers may request the NOC in affidavit form for added legal validity.

For more details please contact us

Frequently Ask Questions and Answers : GST RETURN FILING

1. What is GST Return Filing?

GST return filing is the process of reporting your sales, purchases, tax collected on sales (output tax), and tax paid on purchases (input tax). Businesses registered under GST must file returns to comply with the tax regulations and avoid penalties.

2. Who Needs to File GST Returns?

All businesses registered under GST, including regular taxpayers,
composition dealers, e-commerce operators, and non-resident taxable persons, must file GST returns .

3. What are the Types of GST Returns?

• GSTR-1: Details of outward supplies (sales) - Monthly/Quarterly
• GSTR-3B: Summary return of sales, purchases, and tax liability - Monthly
• CMP-08: Quarterly return for composition dealers
• GSTR-5: Return for non-resident taxable persons
• GSTR-6: Return for input service distributors
• GSTR-7: Return for tax deducted at source (TDS)
• GSTR-8: Return for e-commerce operators collecting tax at source (TCS)
• GSTR-10: Final return (when the GST registration is canceled)

4. What is the Deadline for Filing GST Returns ?

The deadlines vary depending on the type of GST return:
• GSTR-1: 11th of the following month (monthly) or the 13th of the month following the quarter (quarterly)
• GSTR-3B: 20th of the following month
• CMP-08: 18th of the month following the quarter
• GSTR-9: 31st December of the following financial year

5. What Happens if I Miss the GST Filing Deadline?

Late filing attracts penalties and interest:
• Late Fee: Rs. 50 per day (Rs. 20 per day for nil returns) up to a maximum of Rs. 5,000.
• Interest: 18% per annum on the outstanding tax amount.

6. Can I Revise a GST Return After Filing?

No, GST returns cannot be revised once filed. However, errors can be corrected in the subsequent return.

7. What is Input Tax Credit (ITC)?

Input Tax Credit is the tax paid on purchases that can be deducted from the tax liability on sales, reducing the overall GST payable.

7. What is Input Tax Credit (ITC)?

GSTR-1: Details of outward supplies (sales) - Monthly / Quarterly that can be deducted from the tax liability on sales, reducing the overall GST payable.

3. What are the Types of GST Returns?

• GSTR-1: Details of outward supplies (sales) - Monthly / Quarterly
• GSTR-3B: Summary return of sales, purchases, and tax liability - Monthly
• CMP-08: Quarterly return for composition dealers
• GSTR-5: Return for non-resident taxable persons
• GSTR-6: Return for input service distributors
• GSTR-7: Return for tax deducted at source (TDS)
• GSTR-8: Return for e-commerce operators collecting tax at source (TCS)
• GSTR-10: Final return (when the GST registration is canceled)

8. How Can I Contact for GST Return Services?

You can reach out to our GST experts through email, phone, or visit our website to book an appointment for hassle-free GST return filing services.

9. Until when can changes be made to the uploaded invoice details?

Taxpayers can modify/delete invoices any number of times till they submit the Form GSTR-1 of that particular tax period. The uploaded invoice details are in a draft version, and can be changed irrespective of due date until the Form GSTR-1 is submitted.

10. Can there be duplicate invoice series in a particular financial year for a particular GSTIN?

For a particular GSTIN, there cannot be duplicate invoice series in a particular financial year. The GST system will not accept duplicate supply invoices in a return and will provide error on validation.

For more details please contact us