Pros and Cons of Voluntary Registration in GST

Pros/Benifits-

• you can do B to B( Business to Business) Transactions
• Other registered dealers will not have to pay tax in reverse charge.

Modification in Registration

Core Fields- permission for Authority is required for changes and can be modified by only Tax Authorities.

• Legal Name of business
• Address of principal place or additional place of business.
• Addition, Deletion or retirement of partners or directors etc.

Other Fields- Can be modified by self.
 e.g. contact details, HSN code  can be changed any time.

Basis of Registration

Registraion is 

• PAN Based only
• State wise seprate registration
• One per state only - except in case of business verticals/SEZ units.
• One principal place of business has to be given. Additional places can be given registration.
• Registration is a must within 30 days of starting business.

who do not have to register??

• person engaged exclusively in non-taxable or wholly exempted from tax.eg- milk trader
• Agriculturist (farmer), in so far as supply of produce out of cultivation of land.
• Persons engaged exlusively in supplies which are under Reverse Charge Mechanisum.

Who needs to Register in GST???

• Turnover above 10 lakhs/20 lakhs p.a.
• Inter-State Supplier
• Required only in the state from where the supply is made.
• Casual & non resident taxable persons
• persons on whom there is responsibility of paying full tax under reverse charge.e.eg. transport aggregator
• Electronic Commererce Operator (ECO)
• Agents appointed on behalf of supplier

List of Documents Required for New GST Registration

List Of Documents Required For Fresh GST Registration
S No.	Nature Of Documents	Sole Proprietor	Partnership	LLP	Company Private /Public	Size of Documents
1	PAN	YES	YES	YES	YES	NA
2	ID & Address proof	YES	YES (Of Partner)	YES (Of Partner)	YES (Of Director)	NA
3	Photo	YES	YES (Of Partner)	YES (Of Partner)	YES (Of Director)	(JPG-100KB)
4	Pass Book Bank Statement	YES	YES	YES	YES	(JPG,PDF-100KB)/ (JPG,PDF-500KB)
5	Electricity/Landline or Water Bill /Rent Agreement	YES	YES	YES	YES	(JPG,PDF-100KB)/ (JPG,PDF-200KB)

Migration of Existing Taxpayers of VAT, Service Tax, Central Excise will Restart from 25th June 2017

Existing Taxpayers of VAT, Service Tax, Central Excise

DO NOT WORRY

• If you have not enrolled for GST yet, or
• If you have activated your account under enrolment but not submitted the application

ENROLMENT WINDOW WILL REOPEN ON 25th JUNE 2017 AND CONTINUE FOR 3 MONTHS AS PER RULE.

Also note that your provisional ID will be your GST Identification Number (GSTIN).