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GST Registration Individual

GST Registration Individual Services Online In India

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GST Registration Individual Services Online In India - Process, Procedure, Document Required, Fees, Eligibility, Duration

An individual or a person with a sole proprietorship in a business can register under GST (Goods and Services Tax). Anyone who engages in any economic activity, including trade and commerce, can voluntarily register under GST Act. Individuals who register for GST can sell their items across the country. GST registration, as a legal entity registration, provides legal proof of the proprietor’s business.

A 'taxable person' under GST is anyone who conducts any business in India and is registered under the GST Act.  Any person involved in the supply of products whose turnover in a fiscal year exceeds Rs.40 lakhs (Rs.20 lakhs for people from Special Category states) is required to register for GST.

Anyone can register under GST once their turnover exceeds the specified threshold limits.

Individuals who are not required to register for GST include those who supply goods or services, or both, that are not taxed. Individuals who sell goods or services, or both, that are entirely exempt from tax, are also exempt from obtaining GST registration.

 

GST Registration Individual Process in India

GST Registration is the process through which a taxpayer registers for GST.

When a firm is successfully registered, they are given a unique registration number known as the Goods and Services Tax Identification Number (GSTIN).

This is a 15-digit number assigned by the federal government to taxpayers after they register.

Anyone who has registered voluntarily but has not started a business within six months of the date of registration will have his registration terminated.

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GST Registration Individual Services Online In India Frequently Asked Questions

Individuals that are eligible to register for GST include: • Individuals who registered for tax services before the implementation of the GST law. • Casual and Non-Resident Taxable Individual • Individuals that sell their wares via an e-commerce aggregator • Individuals who sell goods and services from one state to another • Individuals who provide database access and online information to people in India from outside the country.
The following are the primary advantages of GST registration: • GST registration makes online sales of goods possible. • Products can be sold all around the country. • Because GST registration is a legal entity registration, it serves as legitimate proof. • Businesses that are GST registered can make interstate sales with few restrictions. • When purchasing goods or services, individuals can claim an input tax credit if registered under GST. • A current bank account can be opened with the use of a GSTIN. • The GSTIN contributes to the growth of a company's brand value.
If an individual wants to register his firm under GST then he/she must produce the following documents: • Aadhaar card • PAN card • Photograph of the person • Proof of business registration • Business address proof • Statement of Bank Account
10% of the amount due will be penalized on a person who fails to pay tax or pay less than what is due. However, the minimum penalty is Rs.10, 000. One who tries to evade tax will be penalized with 100 % of the due tax amount. GST registration can be done online by an individual. It usually takes between 2-6 working days for the process to complete. If you are thinking of going for online GST registration then Credence Corporate Solutions will help you with that. This office will help you with registering your GST and obtain your GSTIN.

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