GST Registration Rohtak
GST Registration in Rohtak: Everything You Need to Know
The Goods and Services Tax (GST) regime was implemented in India on 1st July 2017, with the aim of simplifying the indirect taxation system and unifying the country into a single market. The GST law requires businesses with an annual turnover exceeding Rs. 20 lakh to register under the new tax regime. Rohtak, a city in the state of Haryana, is no exception to this rule. If you are a business owner in Rohtak, it is essential to understand the process and requirements for GST registration in order to comply with the law and avoid penalties.
What is GST Registration?
GST registration is a process through which a business becomes a part of the GST system. Once registered, a business is assigned a unique 15-digit Goods and Services Tax Identification Number (GSTIN). This number is used for filing tax returns, claiming input tax credits, and generally for all GST-related transactions.
Who Needs to Register for GST in Rohtak?
As per the GST law, businesses engaged in the supply of goods or services with an aggregate turnover exceeding Rs. 20 lakh (Rs. 10 lakhs for special category states) in a financial year are required to register for GST. In the case of the North Eastern and hilly states, the threshold is lower, at Rs. 10 lakhs. Additionally, certain businesses such as e-commerce operators and agents, as well as those selling goods or services through an aggregator, are required to register for GST, regardless of their turnover.
The GST registration process is also mandatory for businesses involved in the inter-state supply of goods or services, as well as for those liable to pay tax under the reverse charge mechanism. Importers, exporters, and those holding a Goods and Services Taxpayer Identification Number (GSTIN) under the old regime (VAT, Service Tax, Excise) are also required to migrate and register under the new GST system.
The Process of GST Registration in Rohtak
The process of GST registration in Rohtak can be completed online through the GST portal. The following are the steps involved in the registration process:
1. Visit the GST portal (www.gst.gov.in) and click on the New Registration tab.
2. Complete the Part A of the GST REG-01 form with basic details such as legal name of the business, address, email ID, and mobile number. A temporary reference number (TRN) will be generated and sent to your mobile and email.
3. Using the TRN, complete Part B of the form with details such as business type, PAN, state and district, and upload supporting documents.
4. Once the form is submitted, an application reference number (ARN) will be generated, and the application will be verified by the GST officer.
5. Upon successful verification, a GSTIN and a temporary password will be issued to you. You can log in to your GST account using these credentials to download the GST registration certificate.
Documents Required for GST Registration in Rohtak
The following are the documents required for GST registration in Rohtak:
1. PAN card of the business or applicant
2. Aadhar card of the applicant
3. Proof of business registration
4. Identity and address proof of promoters/directors
5. Address proof of the business premises
6. Bank account details such as a cancelled cheque or bank statement
7. Digital signature
8. Authorization letter or board resolution for authorized signatory
Benefits of GST Registration in Rohtak
Registering for GST in Rohtak offers several benefits to businesses, such as:
1. Legal recognition: GST registration gives a business legal recognition and allows it to carry out interstate and intrastate transactions.
2. Input tax credit: Registered businesses can claim input tax credit on the GST they have paid on input goods and services.
3. Wider market reach: GST registration allows businesses to expand their market reach by selling their products or services across the country.
4. Compliance with the law: Registration ensures that businesses comply with the provisions of the GST law and avoid penalties for non-compliance.
5. Customer confidence: GST registration enhances customer confidence in the business, as it portrays the business as reputable and compliant with tax regulations.
Penalties for Non-Compliance with GST Registration in Rohtak
Failing to register for GST when required can result in penalties and legal consequences. The penalties for non-compliance include a fine of up to 10% of the tax amount due, with a minimum of Rs. 10,000. In case of deliberate non-compliance, the penalty may be increased to 100% of the tax amount due.
Conclusion
GST registration is a crucial requirement for businesses in Rohtak, and it is essential to understand the process, requirements, and benefits of registration to ensure compliance with the law. By following the prescribed process and submitting the required documents, businesses can obtain their GSTIN and enjoy the benefits of the GST system while avoiding the penalties for non-compliance. It is advisable to seek professional assistance to navigate the complexities of the GST registration process and ensure compliance with the law.,
GST Registration Rohtak
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GST Registration Rohtak
This article is only published for informational purposes. Please consult your Chartered Accountant or Financial Advisor before making any important financial decisions. This article has been written by Chartered Accountant Avik Kedia.The images displayed here have been generated using openai chatgpt or google gemini or microsoft bing copilot or google bard or Twitter Grok Ai other X AI artificial intelligence ai tools and plugins and scripts and websites and applications. You may download and use these images for your personal projects at your own discretion.
GST Registration Rohtak
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