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GST Registration for Assessee (Individuals or Businesses)
GST registration for new assessee means individuals or businesses apply for GST registration first time after the introduction of GST rule on July 1, 2017. Individuals & businesses having turnover of more than Rs.40 Lakhs has to mandatorily apply for GST registration. If any company or organization runs a business without doing GST registration, it will be considered as an offense under GST and may incur heavy penalties.
New GST Limit for Sale of Goods
| Category | Turnover | Applicability |
| For Normal Category States | Exceeds Rs.40 lakh | From 1st April 2019 |
| For Special Category States | Exceeds Rs.20 lakh | From 1st April 2019 |
GST Limit for Service Providers
There has been no change in threshold limits for Service Providers.
| Category | Turnover | Applicability |
| For Normal Category States | Exceeds Rs.20 lakh | - |
| For Special Category States | Exceeds Rs.10 lakh | - |
States who opted for the New GST Limit
| Normal Category States who opted for a new limit of Rs.40 lakh | Chhattisgarh, Jharkhand, Delhi, Bihar, Maharashtra, Andhra Pradesh, Gujarat, Haryana, Goa, Punjab, Uttar Pradesh, J&K, Assam, Himachal Pradesh, Karnataka, Madhya Pradesh, Odisha, Rajasthan, Tamil Nadu, West Bengal |
| Normal Category States who choose status quo | Kerala and Telangana |
| Special Category States who opted for new limit of Rs.20 lakh | Puducherry, Meghalaya, Mizoram, Tripura, Manipur, Sikkim, Nagaland, Arunachal Pradesh, Uttarakhand |
Who should register for GST?
The main objective of hallmarking scheme is –
What Is Included In Our Package?
Eligibility Consultation
Document Preparation
Application Drafting
Government Fees
Documents Required for GST registration
The documents needed for GST registration are as follows –
ID proof & address proof of directors/promoters with photograph
Aadhar card of the applicant
PAN card of the applicant
Business registration or incorporation certificate
Proof of Registered business place
Bank account statement or a cancelled chequesignatory.
Digital signature of authorized person
Authorization letter/board resolution for authorized signatory.
Penalty for not registering under GST
Non-payment or short payment of GST will lead to penalty which will be 10% of the tax amount due (subject to minimum of Rs.10000).
In case, it is found that person is intentionally ignoring the tax, the penalty will be 100% of the tax amount due.
Benefits of GST Registration for New Assessee
More than 10 years of experience
Qualified professionals
Excellent customer service
Cost efficient
Customer delight
Time saving
Quick turnaround time
Continuous support over e-mail and phone (24X7).
How FinacBooks Help in GST Registration for New Assessee?
Finacbooks is one of the leading searching platforms with more than 10 years of experience of handling accounting & taxation matters. If you are a registered taxpayer and want to apply for GST registration as per the new tax rules, we are here to help you. We will assist you in getting GST registration number and will provide you the best advice you will ever get anywhere. Kindly call us at 8800221252 or you can also e-mail us at info@finacbooks.com
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