If someone has business in West Bengal and falls under the threshold limit of the goods and services tax, it is mandatory for them to get GST registration in West Bengal . In order to get GST registration one must know about the things which have been discussed in the current blog. Goods and services tax registration is not applicable on all businesses. It is only for those businesses which come under its limit. The registration process to get registration for goods and services tax is uniform for the entire country, but here we are going to discuss with respect to West Bengal. GST registration in West Bengal is a multi step process which must be completed step by step. To know more about the same go through this writeup till the end.
What is GST Registration?
Under the Goods and Services Tax Act of 2017, every business needs to be registered as a taxpayer once it crosses the threshold limit of the goods and services tax. This registration under the GST law is known as GST registration. Goods and Services Tax registration which is also known as GST registration in the market among the entrepreneurs is a compilation of all the indirect taxes. Before 2017 there were several indirect taxes and sometimes the tax rate varies state to state. It creates differences in the market. Hence to solve all this, the government made the tax system uniform. Now the tax rate under the GST law is the same for the entire nation.
Threshold Limit of GST Registration in West Bengal
The threshold limit of GST registration in West Bengal , just like the rest of India, initially stood at Rs. 20 lakhs for both goods and services. However, recognizing the impact on small enterprises, the government increased the threshold limit for businesses dealing in goods to Rs. 40 lakhs through a notification in March 2019. It’s important to note that the threshold for services remains at Rs. 20 lakhs. This means that businesses providing services in West Bengal need to register for GST if their turnover exceeds Rs. 20 lakhs, while businesses dealing in goods have a threshold of Rs. 40 lakhs.
What is the Process to Register GST in West Bengal?
Process of getting or obtaining GST registration in West Bengal is as similar as taking the same in any part of the country. If you want to obtain registration for GST for the West Bengal follow the steps given below:
- Access to the official portal for registering goods and services taxes, click the “Services” option, and opt for “Registration.”
- Opt for “New Registration” to start the registration process.
- Fill in basic details such as your legal name, PAN, email, and mobile number.
- Once you complete the above steps you will get a verification code or OTP on your mobile and email for authentication.
- Enter the OTP or verification code which you had received
- After verification, a Temporary Reference Number (TRN) will be generated.
- Use the TRN to log in, and then fill in the required details in the GST REG-01 form.
- Upload necessary documents, including proof of business registration, address proof, bank account details, and authorization forms.
- A verification process will be initiated, and a GST officer may contact you for further details.
- You will get the registration certificate of GST and your GSTIN (GST Identification Number) if the verification is successful.
- Display the GSTIN at your place of business.
- Pay the applicable registration fees, if any.
- After registration, start filing regular GST returns to comply with GST regulations.
Documents Required to Register GST in West Bengal
One of the very important aspects of GST registration in West Bengal is documentation. Without having proper documentation it is impossible to get goods and services tax registration in any part of the country. Hence one must have proper idea about the GST documentation which are discussed below:
- For a partnership, provide the Partnership Deed.
- For companies, submit the Certificate of Incorporation.
- Any valid document showing the principal place of business, such as a rental agreement or utility bill.
- PAN card and address proof (Aadhar card, passport, etc.) of all promoters/partners/directors.
- Passport-sized photographs of all promoters/partners/directors.
- A canceled cheque or a copy of the bank statement showing the name, address, and IFSC code.
- In case of authorized signatories, provide the authorization forms along with their ID and address proof.
- Digital Signature Certificate (DSC) of the authorized signatory.
- Documents supporting the nature of the business, such as a MOA for companies or a partnership deed for partnerships.
- HSN codes for goods and SAC codes for services that the business deals with.
- If the business is already registered under any previous tax regime, provide the registration certificate.
- A copy of the recent bank statement for the business account.
Benefits of GST Registration in India
Some of the key benefits or we can say advantages of the GST registration in West Bengal or for the entire country are mentioned below:
- GST registration provides legal recognition to your business under the new tax regime.
- Enables businesses to engage in interstate sales without any restrictions.
- Allows businesses to claim input tax credit, reducing the overall tax liability.
- Enhances the competitiveness of your business by eliminating cascading taxes.
- Facilitates access to a wider market by making your goods or services available across states.
- Enables businesses to participate in government tenders and contracts.
- Simplifies the tax compliance process through a unified tax system.
- Allows for convenient online filing of returns and payments.
- Provides legal protection to businesses against anti-profiteering laws.
- Facilitates a smooth transition from the earlier tax structure to the GST regime.
- Eases the process of expanding the business across different states.
- Builds trust among customers as a registered business is seen as more credible.
- Helps in avoiding penalties for non-compliance with GST regulations.
- Allows for claiming a refund of input tax paid on exports.
- Enables businesses to sell on various e-commerce platforms, fostering growth.
Conclusion
GST registration in West Bengal is a mandatory process for businesses that surpass the threshold limit, ensuring legal recognition and compliance with the Goods and Services Tax Act of 2017. The process of GST registration in West bengal involves submitting essential documents, and the threshold limits for goods and services differ, with goods having a higher threshold of Rs. 40 lakhs. The benefits of GST registration include legal recognition, access to a broader market, input tax credit, and simplified compliance, fostering a competitive and trustworthy business environment. It also facilitates participation in government tenders, eases expansion across states, and enables online filing, contributing to the growth and credibility of businesses in West Bengal and across India.
