"A trader who only deals in exempt goods or where his turnover is less than Rs 20 lakh in the financial year but not performed in interstate deliveries is not required to register under GST," said Adhia. Threshold exemption is only for traders who are on the market," he added.
You can have your GST registration backdated to up to four years. You will need to lodge the BAS or annual GST statements for the backdated period. You will also need to pay GST on taxable supplies you have made.
Currently, businesses with a turnover of up to Rs 20 lakh is exempt from GST registration, while the limit for hilly and north eastern states is Rs 10 lakh. Sources said the annual revenue loss on account of doubling exemption limit to Rs 40 lakh, considering that all states implement it, is Rs 5,200 crore.
It may seem that all small businesses should immediately get a GST/HST number, but it really depends on the business. If your business has revenue in excess of $30,000 in four consecutive calendar quarters, you have to register for a GST/HST number.
The GST paid on such goods purchased cannot be claimed as Input Tax Credit (ITC) before the date of obtaining GST registration. Filing of this form is mandatory to claim ITC on such stock.
Currently, businesses with a turnover of up to Rs 20 lakh is exempt from GST registration, while the limit for hilly and north eastern states is Rs 10 lakh.
There is no government fees applicable on GST Registration and it's absolutely free. The only fee that you end up paying could be the professional fees, that a professional may charge for carrying out the registration on your behalf. This fees ranges from Rs. 500 to Rs.
GST Number Format
The GSTIN consists of 15 digits. The next 10 digits are the PAN number of the GST registered entity. The 13th digit of the GST Number is the entity code. It refers to the order in which registrations was made by a legal entity that has multiple registrations within the same state.GST registration can be easily done on the online GST portal. Business owners can fill a form on the GST portal and submit the necessary documents for registration. It is mandatory for certain businesses to complete the GST registration process.
The main documents for GST registration include a PAN card, proof of business registration, identity, photographs and address proof of persons in charge, the business' address proof and bank account statements.
Registration of any business entity under the GST Law implies obtaining a unique number from the concerned tax authorities for the purpose of collecting tax on behalf of the government and to avail Input Tax Credit for the taxes on his inward supplies.
Value of all (taxable supplies+Exempt supplies+Exports+Inter-state supplies) – (Taxes+Value of inward supplies+Value of supplies taxable under reverse charge + Value of non-taxable supplies) of a person having the same PAN(Permanent Account Number) across all his business entities in India.
“aggregate turnover” means the aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis), exempt supplies, exports of goods or services or both and inter-State supplies of persons having the same Permanent Account Number, to be computed
Cancellation of GST registration means that the Central Tax Authority cancels the GSTIN issued to a taxpayer registered under GST initially. Therefore, if a business continues to function despite the GST cancellation, it would be liable to pay a heavy penalty for the same.
The applicant can submit the application in FORM GST REG-21 to such proper office within a period of thirty days from the date of the service of the order of cancellation of registration at the common portal. This application can either be sent directly or through a Facilitation Centre notified by the Commissioner.
If he satisfied with reasons mentioned for revocation in application then he will revoke your cancelled GST registration and passed an order accordingly. You will get an Email or SMS on your registered mobile number for the approval of revocation of cancelled GST registration and then your GSTIN will be active again.
yes, you can reactivate your cancelled gst number,apply for revocation of cancellation of GST registration within a period of 30 days from the date of service of order of cancellation of GST registration.
Checking GST Return Status using ARN
Open the common portal: gst. Enter your valid credentials on the login page. Maneuver the cursor and click Service > Returns > Track Return Status.Technology has enabled you to verify GSTIN by a click of a button from anywhere and anytime. Search GST number before you proceed with a deal. You can partly verify GSTIN or GST number on the first look of it by checking if the vendor's PAN number matches with the digits between 3 and 10 in the GSTIN.
There is no procedure in place to Reactivate the expired TRN. Although, one can again register and generate the TRN. The new TRN will be activated for 15 days to complete the registration.
yes, you can reactivate your cancelled gst number,apply for revocation of cancellation of GST registration within a period of 30 days from the date of service of order of cancellation of GST registration.
Step 1: Go to GST home page by clicking www.gst.gov.in. Step 2: Login with the provided credentials to GST portal. Step 3: Click on 'Services' tab from the main menu, hover the mouse on 'Registration' tab under services. Step 4: Click on 'Amendment Of Registration Core Fields' to open the link.
In case the changes in the registration involves changes in constitution of business and which leads to changes in PAN of a registered person than the said person shall apply for fresh registration as the GSTIN is PAN based due to which any change in PAN would lead to new registration.
Login to the GST portal and select the option “Amendment of Registration Non - Core Fields” from the Registration tab. Choose the option- “Additional Places of Business” from the given Non - Core Fields. Click Continue. On the next window, you will be supposed to specify the Goods & Services you want to add.
GST REG 14 is arranged to use for Application for Cancellation of Registration under Goods and Services Tax Act, <20—> The pdf format of. GST REG 14 for Application for Cancellation of Registration under Goods and Services Tax Act, <20—> is given below to click and download: Download GST REG 14 in pdf format: REG-14.
The GST council in its 31st GST Council Meeting held on 22nd December 2018, has announced through the press release that the effective date of applicability of amendments in GST Act(s) 2018 will be from 1st February 2019 .
You can add it by filing Application for Amendment of Core fields (in form GST REG-14) option available on GST Portal. It is very simple and no attachment is required in case of addition of additional place of business.
Let us understand the process for this:
- Login on to gst.gov.in to go to Login Page.
- Click on the 'login' button and enter your credentials.
- Click on the 'Authorized Signatory Tab'.
- Add new Authorised signatory whose email and mobile number user wants to use.
- Go to Verification tab and Submit the application.
Revocation means the official cancellation of a decision or promise. Revocation of cancellation of registration means that the decision to cancel the registration has been reversed and the registration is still valid.
Amendment of Principal Place of Business
- Select the Principal Place of Business Icon.
- The Principal Place of Business details is shown.
- You will be required to upload a document of address proof and mention the nature of possession of premises.
- Use the given box to fill details on the reasons for the Amendment.
