India launched the Goods and Services Tax system in 2017. India has had a single indirect tax system in place since 2017. It has greatly facilitated and opened up the work of taxpayers. The Goods and Services Tax Act of 2017 established specific requirements for obtaining GST registration. A person must meet the requirements outlined in the goods and services tax laws in order to register for goods and services tax. This article will specifically address details to get GST registered in delhi. The registration process is done online for every state in India. Despite being online, the registration process is somewhat complicated. Therefore, seeking assistance from a professional who can simplify your task is advised.
What is GST Registration?
According to the Goods and Services Tax or GST Act of 2017, registering oneself is required in order to be acknowledged as a taxpayer; this process is referred to as GST Registration. While not all enterprises in the market are required to register, it is necessary to complete this process after doing a thorough GST analysis and seeking expert recommendations. Only individuals who fall below the goods and services tax threshold are required to register. Since there is no legal directory for this registration, it is required by law to register under the GST. It complies legally with the 2017 GST Act.
How to get GST Registered in Delhi?
In order to get GST registered in Delhi follow the steps given below in detail:
- Ascertain if your company satisfies the requirements for GST registration in Delhi, such as surpassing the threshold turnover level.
- Visit the GST online portal and click on the ‘Services’ tab. Select ‘Registration’ and then ‘New Registration.’
- Complete Form GST REG-01 with accurate details, including your business name, PAN, email, and mobile number.
- Provide the OTP (One Time Password) sent to your mobile and email for verification.
- Upload necessary documents, including proof of business registration, identity and address proofs, bank statements, and photographs.
- After verification, you will receive Form GST REG-02. If additional information is needed, you’ll get Form GST REG-03.
- In some cases, a tax officer may conduct a field visit to verify the business premises.
- Once approved, you will receive the GST registration certificate in Form GST REG-06. It contains your GSTIN (Goods and Services Tax Identification Number).
- Display the GSTIN at a prominent place in your business premises.
- Ensure regular compliance with GST rules, including filing returns and maintaining proper records.
What are the Key Documents Required to get GST Registered in Delhi?
Given below is the list of key documents required in order to get GST registered in Delhi:
- For Proprietorship: Any document proving the existence of the business like the business registration certificate.
- For Partnership: Partnership Deed.
- For Company: Certificate of Incorporation.
- Permanent Account Number (PAN) card of the business owner or entity applying for GST registration.
- Aadhaar card (for individuals) or Passport, Voter ID, Driving License, or Aadhaar (for entities) as identity proof.
- Utility bills (electricity, water, or gas bill) or rental agreement as address proof.
- Passport-sized photograph of the business owner or partners, directors, and authorized signatories.
- Either provide a copy of the canceled cheque or provide the bank statement showing the name, address, and IFSC code of the bank.
- Ownership documents, such as property tax receipt or possession letter, or rent agreement along with the NOC from the landlord.
- In case the application is filed by an authorized signatory, an authorization letter along with their ID and address proof.
- For private limited companies and LLPs, a DSC is required for signing the application.
- In case of companies, a letter of authorization or board resolution for authorized signatories.
What are the Benefits to get GST Registered in Delhi?
Some of the key advantages or benefits in order to get GST registered in Delhi are:
- GST registration provides legal recognition to your business, making it a legitimate entity in the eyes of the law.
- Registered businesses can claim Input Tax Credit, allowing them to set off taxes paid on inputs against the taxes they need to pay on outputs.
- GST registration enables businesses to participate in the formal economy, making it easier to expand and access a wider market.
- It simplifies the taxation structure, leading to a reduction in overall tax liability for businesses.
- GST-registered businesses often gain a competitive edge as many buyers prefer to deal with registered entities for the sake of transparency.
- It guarantees that the company abides by the law, lowering the possibility of fines and legal problems.
- GST registration may be a prerequisite for bidding on government tenders and contracts, opening up additional business opportunities.
- For businesses involved in interstate transactions, GST registration simplifies the process and reduces complications.
- It instills confidence in customers as GST-registered businesses are perceived as more trustworthy and credible.
- E-commerce platforms often require sellers to have GST registration, enabling businesses to operate in the online marketplace.
Conclusion
To get GST registered is a crucial step for businesses to gain legal recognition and participate in the formal economy. The process to get GST registered in Delhi involves meeting eligibility criteria, completing the online registration form, and providing essential documents. The benefits of registration are substantial, including the ability to claim Input Tax Credit, participate in government tenders, and enhance transparency, instilling confidence in customers. While the registration process may seem complex, seeking assistance from professionals is advised to ensure a smooth and compliant transition into the Goods and Services Tax system, a pivotal aspect of India’s tax reform since 2017.
