What is the Cost of a GST Registration in Bangalore?

By using the official GST website to register for GST, taxpayers in Bangalore essentially get a unique identification number. It means they’re officially part of the Goods & Service Tax system. Being registered means they have to:

• Add tax to what they charge customers,
• Give out invoices that follow GST rules,
• Take the tax from customers and give it to the Government,
• Do the needed GST paperwork on time.

GST Registration in Bangalore

How Does GST Registration Work?

Value-added tax, excise duty, and service tax are just a few of the federal and state taxes that the GST, an indirect tax, replaces. This value-added tax applies to most goods and services delivered domestically. Although firms providing these products or services remit the GST to the Government, they get money from consumers who pay it. The goal of GST is to combine several taxes into one more effective system, and the finance ministers of the Federal Government and each state lead it. The tax rate that applies to your business might range from 0% to 28%, depending upon the goods and services it provides. India’s $2.4 trillion economy is probably going to shift significantly as a result of this overhaul.

Who in Bangalore has to register for GST? 

1. If an individual or firm in Bangalore has yearly sales above a certain level, they must register for Goods and Services Tax (GST).
2. A person who sells goods to another state, such as Mr Pandit, who sold goods from Bangalore to Delhi, must register for GST in Bangalore.
3. To provide services in Bangalore, even if an individual, such as Mr. Karan Goenka, operates as a tax consultant without a physical office, they must obtain a GST number.
4. If you sell items or provide services using an internet platform, you must register for GST.

What documents are necessary to register for GST in Bangalore?

You can easily register for GST in Bangalore using their online system. Once a regular taxpayer applies, they’ll need to submit certain documents. These include:

• The business’s PAN card and the PAN of the person applying
• ID proof and photos of the applicant
• Address proof of the applicant
• Documents showing business registration or Incorporation
• Proof of where the business is located
• A bank statement or a cancelled cheque
• The applicant’s Digital Signature Certificate
• A letter of authorization or a Board Resolution for the authorized signatory.

The documents needed for GST registration based on the type of business ownership:

For a Proprietorship Company:

1. PAN Card of the Business or Applicant
2. The Aadhaar Card of the Proprietor
3. Applicant’s Bank Details
4. Applicant’s Address Proof

For a Partnership/LLP:

1. PAN Card of the Business or Applicant
2. Aadhaar of All Directors
3. Bank Details
4. Address Proof
5. MOA, AOA, and Incorporation documents
6. Partnership Deed/LLP Certificate

For a Private Limited:

1. PAN Card of the Business or Applicant
2. Aadhaar of All Directors
3. Bank Details
4. Address Proof
5. MOA, AOA, and Incorporation documents

GST Registration Fees in Bangalore

The Government’s website lets you sign up yourself for free. But it’s a bit slow and needs lots of info and papers. Alternatively, experts can help you do the GST registration online in Bangalore at reasonable rates.

When is the deadline to register for Bangalore’s GST registration?

The deadline for normal taxpayers to apply for registration is thirty days later. Please ensure that you apply at least five days before commencing business if you are a temporary or non-local vendor.

Penal provisions

If someone in Bangalore should’ve gotten a GST number but hasn’t yet:

• They’ll have to pay taxes with a fine.
• They can’t charge taxes from customers.
• They can’t use or give away tax credits.
• Their goods or vehicles might be taken or held.

The penalties for different types of GST offences:

• Delayed filing of GST Returns: Rs. 200 per day (Rs. 100 per day under CGST and an additional Rs. 100 per day under SGST) up to a maximum of Rs. 5000. Late fee not applicable to IGST unpaid by delayed filing.
• Not filing GST Returns: Higher amount among Rs. 10,000 or 10% of the tax due under GST.
• Committing Fraud: Higher amount among Rs. 10,000 or 100% of the tax due under GST (may include jail term for fraud cases of higher value).
• Fraudulent Activities: No matter if the perpetrator is GST registered or not, the amount for fraud is Rs. 25,000.
• Charging the wrong GST: Higher amount among Rs. 10,000 or 100% of the tax amount due (applicable only if excess tax is not submitted to the Government).
• Not issuing an invoice: Higher amount among Rs. 10,000 or 100% of the tax amount due.
• Issuing an incorrect invoice: Rs. 2500.

What steps are necessary to register for GST in Bangalore?

This is the procedure to follow to register for GST in Bangalore:

• Once you ask for help, our GST expert gets in touch and learns about your business and where it operates.
• The needed documents for the registration are gathered online by these experts.
• Advisors will walk you through the registration process and address any issues you may have about GST after the payment begins.
• Getting GST registration in Bangalore typically takes 3 to 7 working days. You can avoid physically visiting an office by doing everything online.

What are the advantages of registering for GST in Bangalore?

Gain access to these benefits by registering for GST in Bangalore:

• No More Tax Stacking: Before GST, different taxes piled up, causing extra tax burden. Now, GST bundles up all these taxes, reducing the extra tax load.
• Higher Registration Limit: Earlier, businesses with a turnover over Rs. 5 lakh had to pay VAT, varying in different states. Now, under GST, this limit is raised to Rs. 20 lakh, giving relief to many small traders.
• Small Business Benefits: Small businesses can opt for a composition scheme, cutting down on paperwork and tax for them.
• Easy Online Process: Registering for GST in Bangalore is all online and simple. Just hand over the needed docs to our GST experts.
• Less Hassle: Compared to other taxes, GST has fewer compliance rules. Plus, you can file everything online.
• Organized Sectors: Industries like construction and textiles used to be unregulated, but under GST, they’ve become more regulated and accountable with online compliance options.

Are Bangalore’s Small Businesses Necessitating GST Registration?

You must register for Goods and Services Tax (GST) whenever you sell any products or services outside of your state, regardless of the amount—not even a single rupee. For instance, GST registration is a must if you rent your computers to a client outside your state or provide services there. This means you’ll need to comply with the entire GST Act, including filing returns and following all the rules it outlines.

Who Should Apply for New GST Registration?

The CGST Act 2017 lays out specific scenarios for GST application:

1. Aggregate Turnover: GST registration becomes mandatory if you provide services and your total earnings exceed Rs. 20 lakhs or the value of your goods exceeds Rs. 40 lakhs.
2. Interstate Business: To sell goods from one state to another, businesses need GST registration to ensure tax collection and prevent evasion.
3. E-commerce Platforms: Operating an online business requires GST registration, regardless of the turnover.
4. Normal Taxable Person: Even seasonal vendors must register for GST; turnover doesn’t affect this requirement.
5. Voluntary Registration: Entities can opt for voluntary registration and withdraw this status anytime.

Exceptions: Agriculturists dealing with specific products under reverse turnover rules don’t need GST registration.

Types of GST Registration

The GST Act 2017 outlines various registration categories based on different types of businesses in India:

1. Normal Taxpayer: This category covers large businesses with no deposit fees or fine deadlines for tax payments. They have unlimited validity for input tax credits.
2. Casual Taxable Person: Ideal for seasonal small businesses, this registration involves paying an advance GST amount based on their expected liability during their presence. The validity lasts for three months, extendable if needed.
3. Composition Taxpayer: Taxpayers opting out of the Composition Scheme simplify their GST rules but lose the ability to claim input tax credit. They pay a fixed turnover rate instead.
4. Non-Resident Taxable Person: For businesses outside India supplying goods/services to the country, this requires paying advanced GST rates to activate registration. Valid for three months, extendable if necessary. Examples include non-resident online service providers, SEZ developers, and entities notified by UN embassies or e-commerce companies acting as GST TDS collectors.

When Is New GST Registration Compulsory?

While agriculturists dealing with farming or supplying agricultural products are exempt from GST registration, several individuals and businesses are required to register:

1. Previous Tax Registrations: Those previously registered under VAT, Service Tax, Excise, etc.
2. Turnover Threshold: Businesses exceeding specific turnover limits (Rs. 40 lakh for most, Rs. 10 lakh for specific regions).
3. Interstate Sales: Companies engaged in interstate sales.
4. Occasional Events: Businesses participating in events or trade fairs outside their state as casual taxpayers.
5. Invoicing: Companies looking to issue tax invoices to their customers.
6. Non-Resident & Casual Taxable Persons: These individuals fall under the GST purview.
7. Reverse Charge: Those paying tax through the reverse charge mechanism.
8. E-commerce: People who sell or engage in e-commerce operations via online platforms make up the eighth category.
9. Import-Export: People whose occupations include importing goods or exporting goods

GST Registration Procedure Explained

Getting your GST registration online is easier than you think! Just follow these steps:

1. First, fill out the application form with appropriate company facts from your official papers on the official GST registration website (https://www.gst.gov.in/).
2. Once you’ve submitted, either check your email or the number associated with your account for a one-time password (OTP). Mark this OTP for future reference.
3. Note down the Temporary Reference Number (TRN) given to you. After verification, you may proceed with your application.
4. Finalise your submission by filling out the GST REG-03 form using your TRN and attaching any necessary documentation.
5. When they check your information, you’ll get an ARN number from the GST department. If you want to see where your GST certificate stands, you may use this number.