GST Registration Limit in Case of Goods:
A GST registration is essential for everyone who participates in the sole supply of goods and has an annual aggregate revenue of more than Rs 40 lakh. The previous cap for a product provider was 20 lakhs. The sum was increased to 40 lakhs by notification No. 10/2019-Central Tax, dated 07.03.2019.
What is GST Registration on Limit for Services?
The registration turnover criteria for service providers in India is Rs. 20 lakh. As a result, since the introduction of the GST, the barrier for service providers hasn't altered at all. They must complete an online GST registration and GST return filing if the aggregate value of the services they offer in a financial year is greater than Rs. 20 lakhs. The GST Registration ceiling for states falling under special categories is set at Rs. 10 Lakhs.
How is aggregate turnover determined for the GST threshold?
It is now abundantly evident that a person's total annual turnover is the main determinant of whether they are eligible for GST exemption or not. "Aggregate turnover" is defined under Section 2(6) of the CGST Act.
In simple words, you can define turnover as inclusive of:
- Taxable supplies
- Exempted supplies
- Non-GST supplies
- Interstate supplies
- Zero-rated supplies
- Goods sent for job work
The turnover excludes:
- Goods or services received on which tax payable under reverse charge mechanism
- GST paid
- Goods received for job work
Required Documents For GST Registration for Individuals:
- Self-attested PAN of Individual
- Self-attested Aadhaar of Individual
- Trade Name and Product & Service Description
- Rental / Lease Agreement (if office is rented)
- Electricity bill of Office premises
- Passport Size Photograph
- NOC from landlord
- Promoter details Mail id & Mobile number
- Bank Statement / Cancel Cheque
- Property tax papers (if owned) with Electricity Bill
Note:
In case of Rented Premises:
Electricity Bill of the Office Premises, Rental Agreement
In case of Own Premises:
Property Tax receipt, NOC from the owner to be given by Owner to Company
Required Documents For GST Registration for Company:
- Self-attested PAN of all Directors
- Self-attested Aadhaar of all Directors
- Board Resolution from Authorized Signatory
- Rental / Lease Agreement
- Electricity bill of Office premises
- Passport Size Photograph of all Directors
- NOC if own premises
- Property tax receipt
- Mail id & Mobile number of all Directors
- Bank Statement of Company Bank Account
- MOA/AOA/COI
- DIN of all Directors
- DSC (For company)
- Certificate of Incorporation (Company)
- Certificate of commencement of business(company)
Note:
In case of Rented Premises:
Electricity Bill of the Office Premises, Rental Agreement
In case of Own Premises:
Property Tax receipt, NOC from the owner to be given by Owner to Company
Required Documents For GST Registration for LLPs/Partnership:
- Self-attested PAN of all Directors
- Self-attested Aadhaar of all Directors
- Board Resolution from Authorized Signatory
- Partnership Deed
- Rental or Lease Agreement
- Electricity bill of Office premises
- Passport-size photograph of all partners
- NOC if premises are owned
- All partners' email addresses and phone numbers
- Bank Statement of Organization
- Partnership Registration Certificate issued by the State Government if registered
- DSC of the Authorized Signatory