Akanksha Dixit/Delhi. There is a special rule of GST Registration for business. Under this rule, a person doing business has to get GST registration done. Today, in our special report, we will tell you through a CA that if you want to open your own business, then how much time does it take for GST registration and what is its entire process.
Regarding this, CA Nitin Sharma said that first of all you have to see what business you want to do. There is no need for GST registration at the outset. The government has given some relaxation, in which if you work within Rs 20 lakh, then you will get relaxation in that. He said that when you start earning more than this, then you can get your GST registration done.
Online process of GST registration
Nitin Sharma told that there is an online process for GST registration, for which there is no need to go anywhere. Once you have applied for GST registration, you get a TRN number, which is also called Temporary Reference Number. After which you get to know to whom your GST number has been assigned. He told that after this you will get approval. If there is no problem in your document, then your GST registration will be done in 7-10 days and if any problem arises then it may take 15-20 days in that case. He told about its charge that any CA will get your GST registration done for Rs 2500 to Rs 5000 and for a private limited company the charge goes up to Rs 10,000.
Documents required for registration
- Passport size photograph of the owner(s)
- company pan card
- Identity Proof (Aadhar Card, Passport, or Driving License)
- Certificate of Association for LLP, OPC and Private Limited Companies
- Bank details (bank statement, passbook or canceled cheque)
- Partnership deed if it is a partnership firm
Why is GST registration necessary?
Nitin Sharma said that GST has replaced all the earlier taxes. Earlier, different types of taxes were levied, which have been subsumed in GST. If your annual turnover is more than Rs 40 lakh, in some cases Rs 20 lakh, then you are a taxpayer in the eyes of GST. For this you have to pay tax in your business. Registration has to be done only to pay this tax. If you do business without registration then it is a crime, if caught you may have to pay a heavy fine.
Trademark registration is also very important
If anyone starts a new startup, trademark registration is necessary for him. So that no one in the market can copy your name or a name similar to your name, the government fee is Rs 4500 and non-proprietor fee is Rs 9000 and filing charge is Rs 1500.
Tags: Delhi news, Gst latest news, Gst, Local18
FIRST PUBLISHED : February 28, 2024, 11:31 IST