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Overview of GST Registration in Bhavnagar
The Goods and Services Tax (GST) is a unified tax system implemented in India on July 1, 2017. In order to comply with GST laws, it’s essential for businesses to register for GST if their annual turnover exceeds Rs. 40 lakh (or Rs. 20 lakh, depending on the state and type of supplies). If you are a business in Bhavnagar, and exceed the annual GST threshold, it is crucial that you get GST registered in order to avoid any legal issues and avail various benefits under the tax regime.
Types of GST in India
Central Goods and Services Tax (CGST): This tax is applicable to the supply of goods and services within a state and is levied by the central government.
State Goods and Services Tax (SGST): This tax is applicable to the supply of goods and services within a state and is levied by the respective state government.
Integrated Goods and Services Tax (IGST): This tax is applicable to supplies of goods and services moving between states.
Union Territory Goods and Services Tax (UTGST): This tax is applicable to the supply of goods and services within a union territory without a legislative assembly.
Who needs to get GST registered in Bhavnagar?
GST registration is mandatory for all businesses exceeding the GST threshold. In most states, the GST threshold for annual turnover is Rs. 40 lakh for services and goods. However, for a few special categories states, the threshold is Rs. 20 lakh for goods and Rs. 10 lakh for service businesses.
- Businesses involved in inter-state supply
- Casual taxable persons
- non-resident taxable persons
- Agents of a supplier
- E-commerce operators
- Ecommerce Sellers
- Any trade under the reverse charge mechanism
- For those who have to deduct TDS under GST
- Input Service Distributor
Benefits of GST Registration in Bhavnagar
Input Tax Credit: GST registration in Bhavnagar allows you to claim input tax credit, which helps reduce your overall tax liability.
Compliance: GST registration is mandatory for all businesses exceeding the GST threshold. GST registration in Bhavnagar enables you to ensure that your business is compliant, helping you avoid penalties.
Tender Eligibility: You will be eligible to participate in government tenders and contracts.
Simplified tax filing: GST registration in Bhavnagar allows you to simplify your tax liability, which means you don't need to register for multiple tax registrations.
Increased business credibility: You can increase the credibility of your business with customers and suppliers by registering for GST.
Penalties for not registering for GST
Under the CGST Act, if a person or supplier exceeds the GST registration threshold and fails to register, the penalty is either INR 10,000 or 10% of the tax due, whichever is higher.
Similarly, if a taxable person in India fails to take GST registration despite being liable, the penalty is Rs. 10,000 or the amount of tax evaded or any short-term tax liability, whichever is greater.
How do I get GST registered in Bhavnagar with the help of theGSTco?
If you want to get GST registered in Bhavnagar easily and fast, then you can get our help. Our expert team makes sure that your GST registration is done quickly, with a 100% approval guarantee.
Contact Us - Get in touch with us, fill out the form on our site, WhatsApp, or call us directly, and share your requirements.
Pay the Fees - If you are ready to get theGSTco's expert help for GST registration in Bhavnagar, you need to pay our nominal fees.
Share Documents - After paying the fees, share the required documents to start the GST registration process.
GST Application - Once you provide all the required documents, our expert team will apply for GST.
Review and Approval - After submitting the GST application, it will be reviewed by the GST officer and approved within 7–15 working days.
Get GST Certificate - Once your GST application is approved, you can then easily download it from the GST portal.
Why choose theGSTco for GST registration in Bhavnagar?
- End-to-end support - We provide end-to-end support from document collection to GST registration and approval.
- Virtual office support - In case you don't have a business address for GST in Bhavnagar, we can provide you with our affordable virtual offices.
- Fast execution - We have a team of legal experts and CAs who ensure that your GST registration is done quickly and accurately.
- Nominal fee - Our aim is to provide legal support to common people to navigate legal work easily, hence, we charge very little for our expert GST registration support in Bhavnagar.
Documents Required for GST Registration
Nature of Document | Proprietorship | Partnership | Private Limited |
---|---|---|---|
PAN | Yes | Yes | Yes |
Address Proof | Yes | Yes (of Partner) | Yes (of Director) |
Photograph | Yes | Yes (of Partner) | Yes (of Director) |
Cancelled Cheque | Yes | Yes | Yes |
MOA, AOA, COI | No | No | Yes |
Board Resolution | No | No | Yes |
Authorised Signatory Letter | No | Yes | Yes |
Partnership Deed | No | Yes | No |
FAQs
Do I need to register for GST if I only sell exempt goods or services?
Generally, no, if your business deals exclusively with exempt supplies (like grains and pulses), even if you exceed the turnover limit.
What happens if my turnover crosses the threshold during the year?
If your business crosses the threshold during the year, you need to register within 30 days of exceeding the limit.
What documents are required for GST registration?
Documents may vary a little bit based on your company type, but the most common are a PAN card, an Aadhaar card, address proof, bank account details, etc.
What happens if I don't register for GST when required?
Penalties and late fees may be imposed.
Can I voluntarily register for GST even if my turnover is below the threshold?
Yes, you can opt for voluntary registration.
How long does the GST registration process take?
It usually takes 3 to 7 working days if all documents are in order, but sometimes it may take up to 15 days.
What are the ongoing compliances after GST registration?
Filing GST returns, maintaining accounts, and paying taxes as applicable.