GST stands for Goods and Service Tax. GST gives the benefit of availing seamless credit in business transactions. However, to avail this seamless credit and other GST benefits you need to be a registered dealer. Our scope of discussion in this article is all aspects of GST Registration. We will primarily discuss on how to obtain GST Registration in Alwar, an industrial hub of Rajasthan.
Alwar in Rajasthan is emerging as a promising industrial area. There are all sorts of industries in Alwar. It is having majorly manufacturing industries. One of the IT hubs i.e. Delhi-NCR is in very close vicinity of Alwar. So, business need not bother about service support to their units. With the growing MSME base Alwar is a preferred place for setting new businesses.
We can say that if any business has to take full advantage of current situation in Alwar that taking GST registration in Alwar is a first step. This will help any business become a part of this chain.
Importance of GST Registration
GST has brought various benefits to the business sector in Alwar. It has evolved as a single tax regime for goods and services. Following points showcase the importance of GST Registration:-
GST helps to keep the chain of tax credit intact.
Cascading effect of tax is reduced.
GST Registration is a very simple online procedure, with minimal and basic documentation.
There is a reduction in number of compliances as there is only one tax regime now.
Now, we will see that who all should take mandatory registration under GST.
When it is mandatory to get GST Registration in Alwar?
GST Registration is mandatory when an entity crosses specified turnover limit. However, there are certain other circumstances also, where GST Registration is mandatory. We will discuss briefly about all these scenarios-
Businesses that have crossed the threshold limit as prescribed-
Supplier of Goods- 40 lakhs
Supplier of Services- Rs.20 lakhs
Those business registered under various indirect tax laws.
In case of change in ownership or restructuring of the business.
Any person liable to pay tax under Reverse Charge Mechanism.
Business that wished to undertake inter-state transactions.
Casual Taxable Person or a person opting for Composition Scheme.
Person working as E-Commerce Operator or aggregator in case total sales exceeds Rs.20 lakhs.
An Input Service Distributor
Non-Resident Taxable Person
Documents Requirement for GST Registration in Alwar
Following documents are required for GST Registration-
PAN Card and Aadhaar Card
Business Address proof
Bank Account Statement and Cancelled cheque leaf.
Proof of Business or Incorporation/Registration Certificate
Identity Proof of Business and Directors.
Authorization Letter/ Board Resolution for Authorized Signatory.
Process of GST Registration in Alwar
We need to follow these simple steps to get GST Registration done. Let us see the steps:-
Go to <Taxpayers Tab> and click on <Register Now> and select <New Registration>.
In the next page select <Taxpayer> and fill in basic details like State, District, PAN, Name of Business, Email and Mobile Number etc.
Enter the OTP sent on mail and mobile and click on proceed.
You will get a TRN, that is, “Temporary Reference Number”. After that we again need to provide OTP from both mail and mobile.
In next screen we need to upload necessary documents and enter required details.
After that go to Verification page. Following method are available to verify the application-
EVC or Aadhaar OTP
Digital Signature in case of Companies
The portal will provide with an Application Reference Number (ARN). We can check status of ARN on the GST portal.
Penalty of Non- Registration
Law has laid down consequences for an entity that fails to register and is otherwise required to register.
The penalty of 10% or tax due, or a minimum of Rs.10,000/-
Penalty of 100% of tax due if evasion is done wilfully.
GST Registration is very important for any business. It helps any business to become part of a network. If we talk about GST Registration in Alwar, then it is altogether very important. All manufacturing units that are majorly located in Alwar will definitely prefer dealing with a GST Registered Vendor. This will help them to avail credit and reduce the cost of their input. Moreover, getting GST Registration in Alwar is not difficult. As many affordable and efficient consultants are available. So, get in touch with your consultant and definitely get the GST Registration as required.
Neelansh Gupta is a dedicated Lawyer and professional having flair for reading & writing to keep himself updated with the latest economical developments. In a short span of 2 years as a professional he has worked on projects related to Drafting, IPR & Corporate laws which have given him diversity in work and a chance to blend his subject knowledge with its real time implementation, thus enhancing his skills.
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