GST Registration in Bangalore
Goods & Service Tax (GST) is an indirect tax in nature that became applicable in the country with effect from 1st July 2017. According to GST law, GST registration is compulsory where turnover is more than INR 40 Lakhs (INR 20 Lakhs in the case of some states). Therefore, if your turnover exceeds the minimum threshold limit, you must register for GST. You can apply for a GST number online through the GST portal of the Government of India.
On successful GST registration online, you will be allotted a unique GST registration number which is known as “Goods & Service Tax Identification Number” (GSTIN). The GST registration number (GSTIN) is not only important for GST invoicing & return filing but also necessary for opening a bank account. So, if you are intending to start a new business in Bangalore, you must make a GST application. GST registration in Bangalore is completely online. To obtain GST registration in Bangalore, you are required to follow the process given in this article.
Documents required for GST registration in Bangalore
- PAN Card of the business/ applicant
- PAN/ Aadhar of the applicant (proprietor/ partners/ directors)
- Photograph of proprietor/ partners/ directors
- Address Proof of the applicant (Rent Deed, Ownership document, NOC from owner, and electricity bill)
- Incorporation certificate in case of a company
- Partnership Deed/ LLP Agreement in case of a firm or LLP
- Google Location of business premises
- Bank Account Details
How to obtain GST registration in Bangalore?
The process of making new GST registration in Bangalore is as below:
Step-I: For GST registration online, you have to visit the GST portal www.gst.gov.in. After login fill, the GST registration form which is divided into two parts- Part A and Part B.
Step-II: In Part-A: Fill the basic particulars in Part-A namely name, PAN number, email id and mobile number. After submitting the same, OTP will be generated for mobile and email id verification. On successful OTP validation, a TRN will be generated.
Step III: Open Part B of the form and fill in the details of the partners/ directors of the firm and choose the category of Goods/ Services in which you propose to deal.
Step IV: Submit the form and save the ARN generated for future reference. The GST application will be scrutinized by the GST authorities. If no discrepancies are found, the GST authorities shall grant a GST registration number and issue a GST registration certificate. Once, your application is approved, generate your login ID and password.
Benefits of GST Registration in Bangalore
GST registration in Bangalore has various benefits some of which are given below:
- GST eliminates the cascading effect of tax: Cascading effect means the tax on tax. Since GST has subsumed almost all types of indirect taxes, it reduces the cascading effect of tax thus reducing the tax burden.
- Composition Scheme for small businesses: GST provides composition schemes for traders and service providers which have minimum tax rates of 0.5% to 6%. The composition scheme reduces the tax burden as well as the compliance burden for small businesses.
- Simple and Easy: The process of new GST registration is completely online and easy. You just need to submit the required documents for GST registration online. GST returns can also be filed easily online on the GST portal.
- Regularizing the business: GST law has organized and regularized various sectors of industries in a very short span of time. This has benefitted every industry and has brought accountability and regulation to the industries.
About Taxwink:
Taxwink is a leading taxation & corporate consultancy firm catering online to its clients across India. Taxwink is providing expert GST registration services & GST return filing services in Bangalore and other major cities of India. If you are looking for GST consultants near you, you can access our expert professional assistance at reasonable prices. Wish to hire GST consultant in Bangalore Call 9660930417.
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