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How important is GST registration for business? know the fee, process to register.

Know in this Blog How important is GST registration for business? know the fee, process to register.

What is GST registration

There is a special rule of GST registration for business. Under this rule, a person doing business has to get GST registration done. Today in this special report, we will tell you through a CA that if you want to open your own business, then how much time does it take to get GST registration done and what is its complete process. First of all you have to see what kind of business you want to do. There is no need for GST registration in the beginning. The government has given some exemptions, in which if you work under 20 lakhs, then you will get exemption in it. He said that when you start earning more than this, then you can get your GST registration done.


What is the Online process of GST registration?

There is an online process for GST registration, for which there is no need to go anywhere. Once you apply for GST registration, after that you get a TRN number, which is also called a temporary reference number. After which you come to know, to whom your GST number has been assigned. He said that after this you will get approval. If there is no problem in your documents, then your GST registration will be done in 7-10 days and if there is any problem then it may take 15-20 days in that case. He talked about its charges that any CA will get your GST registration done for Rs. 2500 to 5000 and for a private limited company the charge goes up to Rs. 10,000.


What are the Documents required for GST registration?

  • Passport Size Photograph Of The Owner
  • PAN Card Of The Company
  • Identity Proof (Aadhaar Card, Passport, Or Driving License)
  • Certificate Of Association Companies
  • Bank Details (Bank Statement, Passbook Or Cancelled Cheque)
  • Partnership Deed for Partnership Firm


Why is GST registration necessary?

GST has replaced all the earlier taxes. Earlier there were different types of taxes, which have been included in GST. If your annual turnover is more than 40 lakhs, in some cases 20 lakhs, then you are a taxpayer in the eyes of GST. For this you have to pay tax in your business. Registration is required to pay this tax. If you do business without registration, then it is a crime, for which you may have to pay a heavy fine if caught.


Trademark registration is also very important

If anyone starts a new startup, then trademark registration is necessary for it. So that no one in the market can copy your name or a name similar to your name, whose government fee is Rs 4500 and non-proprietor fee is Rs 9000 and filing charge is Rs 1500.


Q1. What is the fee for GST registration of a business?

The fee for GST registration of a business in India varies depending on the state and turnover. Generally, there is no fee for businesses with an annual turnover below Rs. 20 lakhs (Rs. 10 lakhs for special category states). For others, the fee is Rs. 5,000.

Q2. Is GST registration mandatory for company registration?

In India, GST (Goods and Services Tax) registration is mandatory for businesses with an annual turnover exceeding the prescribed threshold limit, irrespective of whether they are registered as a company or any other type of business entity. Compliance with GST regulations is essential to avoid penalties and ensure legal compliance.

Q3. Is it mandatory to charge GST after registration?

Yes, it is mandatory to charge Goods and Services Tax (GST) after registering a Private Limited Company if the company's annual turnover exceeds the prescribed threshold limit set by the government, which is currently ₹40 lakhs for most states (₹20 lakhs for special category states).

Q4. Can I run my business without GST registration?

In India, businesses with an annual turnover exceeding ₹20 lakhs (₹10 lakhs for special category states) are required to register for Goods and Services Tax (GST). Operating without GST registration may lead to legal implications and penalties. Therefore, it's advisable to register for GST to comply with tax regulations.

Q5. Can I charge 0% GST when my turnover is less than 20 lakhs?

Yes, if your turnover is less than ₹20 lakhs (₹10 lakhs for special category states), you are eligible for the GST composition scheme, allowing you to charge 0% GST on your supplies. However, you cannot claim input tax credit under this scheme.

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Updated on: 02 Apr, 2024 | 7 min read