GST stands for Goods and Services Tax. It is an indirect tax which has to be collected from our customers when you sell your goods and services. This tax is required to be submitted to the government.

if your annual turnover exceeds INR 40Lacs*, if your completing inter-state sales, or if you are selling products online though an e-commerce portal. You are required to register if you take part in the business of imports and exports, if you would like to raise a tax invoice for your customers, or if you or your business participate in an event outside the state as a casual taxable payer..
*In the case of the North Eastern States, an annual turnover threshold limit is INR 20 Lakhs.

Yes, you can be voluntarily registered for GST even if your annual turnover rate does not required you to register. It is beneficial to be GST registered, not only to get your business recognized as a legal and qualified registrant, but to make various benefits available to you such as GST invoice, input tax credit and much more.

If you would like to learn more about the many benefits of GST registration, we encourage you to download our comprehensive GST guide.

This would be necessary if a Business owner is providing goods and services from multiples states. You can also get multiple GTSIN voluntarily. You would want to do this if you were operating from a single state but you use multiple verticals to avoid unnecessary accounting complexity between business.

Example: XYZ Private limited doing the business of selling merchandise, and also selling software from bangalore only. Still, a company can apply for multiple GTSIN for their different business domain.

If a business is required to register under GSt, but fails to do so, the business is liable to pay a penalty of 100% of the tax dues to INR or 10, 000 whichever is Higher.

This will depend on the type of business that you are running. The following documents will be required for GST registration.

• Passport sized photograph
• Aadhar Card, passport, or Drivers License
• PAN card of Business Identity
• Proof of Address of Business Premises
• Bank statement or ledger book copy

ADDITIONAL DOCUMENTS FOR PRIVATE LIMITED COMPANY/LLP/OPC/PARTNERSHIP FIRM

• Certificate of Incorporation in case of company, OPC or LLP
• Partnership Deed if you own a partnership firm.

GTSIN stands for Goods and Services Tax Identification Number. The Number itself consists of 15 alphanumeric characters. Your GTSIN will be generated by the government once you have successfully applied for your GS registration. The first two numbers of your GTSIN represent the state in which you business is registered in. The Next 10 characters represent PAN of the business. The 13th character shows the number of the business located in the same state. The last two characters of your GTSIN are randomly generated.

The GST rate caries depending on the nature of the goods and services you are selling. The rate ranges from 0-28% to find out the rate on your business we recommend you download the GST guide from above.

Yes, you can sell both goods and services under one GTIN, as long as you have listed said goods and services on your registration application.

Yes, if you are the individual or sole proprietorship then you are free to apply for GST registration for your firm name. Also you can apply under your personal name as well.

No, both savings and the current accounts can be provided for GST registration.

We don’t see why not. You can start a business from your home. You just need to provide proof of your residential address to become GST registered.

You need to affix GSt certificate somewhere on the premises of your business. You need to issue a GST compliant invoice. You may want to sign up for the FREE GSt invoice billing software, or download the android mobile app. You will need to file your GST return in a timely fashion as well.

Yes, from the moment that you obtain your GSt registration certificate you need to charge GSt tax to your customers on every sale you complete. If you are not sure how to charge your customers GSt tax sign up for our GSt billing software for FREE.

No, you only need one GST registration. If you are supplying goods to India from multiple states you would then need to obtain GST registration in each state you are selling from.

The process of converting the old service account to GSTN through GSt registration goes as follows:

• Login to CBIC portal
• Receive the provisional ID and Password
• Create the new user ID and Password on the GSt Portal
• Enter all your business details along with the promoter details and the business address, bank details, and upload all the required documents to the GST Portal.
• Finally, verify the DSC or the Aadhar generated EVC

Gst composition scheme is an easy scheme made for the small business owners and taxpayers, in order to reduce the compliance burden. Small business owners can get rid of tedious Gst formalities and pay a GSt at a fixed rate of turnover. Any business that has a annual turnover of less than 2 crore * can opt for composition scheme under the GST registration application.

• For Assam, Arunachai Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura, Sikkim and Himachai Pradesh the above threshold limit is 1 crore.

The Advantages of Composition scheme are:

• You only need to file a quarterly return, so only four times a year.
• Limited compliances
• Less tax liability
• Pay small amount of tax on turnover. (1% for traders 5% for restaurants)
• Not required to maintain detailed records
• Can provide auxiliary services up to 5 lakhs annually Disadvantages
• Input tax credit of purchases made is not available to you
• You cannot issue a tax invoice to your customers
• You cannot charge composition tax on a customer’s invoice as you could under the regular GSt composition.

Those who have an annual turnover greater than 1.5 crore, if you are involved in inter-stated supplies, all service based businesses except for restaurants, if you import or export goods and services, if you are an e-commerce seller, or a supplier of non-taxable goods. You cannot opt for com[position scheme if you are the manufacturer of notified goods, or if the relaxation is announced of GST composition scheme on the 23rd GST council meeting held.

ARN stands for Application Reference Number. It is the conclusive proof of your successful submission of the application to the GSt servers. It is generated after the TRN (temporary reference number) and uploading of the required documents.

A principle place of business is the primary location within the state where a tax payer ‘s business is performed. The principal place of business is generally where the business accounting books and records are held. It is often where the head of the firm or the top of management is located.

LHSN is the Harmonized System of Nomenclature, which is internationally accepted product coding system to maintain uniformity in the classification of goods. Service accounting Codes are adopted by the central board of excise and customs for identification of the services.

NO you cannot change these details unless you are the sole proprietor, or in a sole proprietorship firm.

Yes it is, in all cases.

Yes, e-file is an online platform serving all India. Wherever you are, and whatever your business is doing, all you need is connection to the internet and we are ready to help you get the job done.

No you do not. e-file is an online catering platform so all you need is internet connection. As long as you can upload the required documents, this can all be accomplished from the comfort of your home.