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Complete Guide to GST Registration in India with YathraFin


Goods and Services Tax (GST) is a comprehensive tax levied on the supply of goods and services across India. It replaces multiple indirect taxes, creating a unified taxation structure that benefits businesses and consumers alike. Whether you're a new business or an existing one expanding operations, GST registration is essential to operate legally and take advantage of tax benefits.
This guide provides everything you need to know about GST registration in India and how YathraFin can simplify the process.


What is GST ?


GST is a value-added tax levied on most goods and services sold for domestic consumption in India. It is a destination-based tax that is charged at every stage of the supply chain and is ultimately borne by the end consumer. The GST framework has been categorized into several types: Central GST (CGST), State GST (SGST), Integrated GST (IGST), and Union Territory GST (UTGST).


Why Choose YathraFin for GST Registration ?


Choosing YathraFin for GST registration ensures a hassle-free experience, with expert guidance and a simplified process. Here’s why YathraFin is the right partner for your GST registration:

  • Expert Assistance: Comprehensive guidance on documentation and eligibility requirements.
  • Fast Processing: Efficient handling of registration steps to avoid unnecessary delays.
  • Transparent Pricing: Competitive, affordable pricing without hidden costs.
  • Post-Registration Support: Continued assistance in filing GST returns and ensuring compliance.

Key Features of GST


  • Single Tax Structure: GST consolidates multiple indirect taxes under one system.
  • Input Tax Credit (ITC): Businesses can claim credit for taxes paid on input goods and services.
  • Digital Compliance: GST compliance is entirely online, from registration to return filing.
  • Destination-Based Tax: GST is collected at the place of consumption rather than production.
  • Reduced Cascading Effect: ITC minimizes tax-on-tax situations, making goods and services more affordable.

Types of GST Registration


  • Regular Registration: For businesses with an annual turnover exceeding the prescribed limit (₹20 lakh for service providers and ₹40 lakh for goods suppliers).
  • Composition Scheme: Available for small businesses with an annual turnover of up to ₹1.5 crore. This scheme has lower tax rates but restricts inter-state supply.
  • Casual Taxable Person Registration: For businesses operating on a temporary basis (such as fairs and exhibitions).
  • Non-Resident Taxable Person Registration: or non-resident entities supplying goods or services in India.

Documents Required for GST Registration


To apply for GST registration, you'll need the following documents:

  • Business PAN Card: PAN card of the business or proprietor.
  • Identity and Address Proof of Promoters: Aadhaar card, passport, or other identification for business owners.
  • Business Registration Proof: Certificate of incorporation or partnership deed.
  • Address Proof of Business Location: Rental agreement or utility bills.
  • Bank Account Details: Cancelled cheque or bank statement.
  • Digital Signature: Required for companies and LLPs.

Eligibility Criteria for GST Registration


Businesses meeting any of the following criteria are required to register for GST:

  • Annual Turnover Threshold: ₹20 lakh for service providers; ₹40 lakh for goods suppliers.
  • Inter-State Business: Any business involved in inter-state supply of goods or services.
  • E-commerce Operators: Businesses selling goods/services via online marketplaces.
  • Casual or Non-Resident Taxable Person: Those temporarily involved in business operations within India.

Step-by-Step GST Registration Process with YathraFin


  • Step 1

    Create a GST Portal Account

    Log in to the GST portal and generate a temporary reference number (TRN).

  • Step 2

    Fill in Business Details

    Provide your business information, including the type of registration.

  • Step 3

    Upload Documents

    Submit required documents for verification.

  • Step 4

    Verify Information

    Complete OTP and document verification.

  • Step 5

    Application Submission

    Submit the application form after ensuring accuracy.

  • Step 6

    Receive GSTIN

    Upon approval, a unique GST Identification Number (GSTIN) is assigned to your business.

GST Rules and Regulations


Businesses registered under GST must follow specific rules to ensure compliance, such as:

  • Invoicing Requirements: Issue GST-compliant invoices with specified details.
  • Tax Collection and Payment: Charge the correct GST rate on goods/services and remit taxes.
  • Timely Filing of Returns: Regularly file monthly or quarterly returns, based on turnover.
  • Maintenance of Records: Keep accurate records of purchases, sales, and tax paid or collected.

Compliance Requirements After GST Registration


After registering for GST, businesses are required to meet ongoing compliance obligations:

  • Monthly/Quarterly Return Filing: File GSTR-1, GSTR-3B, and other applicable returns.
  • Annual Return Filing: File GSTR-9 at the end of the financial year.
  • Invoice Management: Issue GST-compliant invoices with proper HSN codes.
  • Input Tax Credit Claims: Ensure that ITC is claimed only on eligible purchases.

Benefits and Government Schemes for GST-Registered Businesses


GST registration provides numerous benefits, including eligibility for government schemes and compliance advantages:

  • Input Tax Credit (ITC): Claim credit on tax paid for input goods and services.
  • Legal Recognition: GST registration gives your business a legally recognized identity.
  • Access to Loans and Credit: With GST compliance, businesses are more eligible for loans.
  • E-commerce Benefits: Mandatory GST registration for e-commerce businesses allows access to broader markets.
  • Government Schemes: Access to various schemes under MSME if applicable.
FAQ

Frequently Asked Questions

These FAQs cover essential details like eligibility, required documents, process steps, and benefits. It helps clarify common queries about setup, compliance, costs, and timelines.

₹20 lakh for service providers and ₹40 lakh for goods suppliers.
It generally takes 7-10 working days for processing and approval.
Yes, non-residents can register if they supply goods/services in India.
Permanent for regular businesses; temporary for casual and non-resident taxpayers.
The government does not charge a fee for GST registration, but professional services may have associated costs.
Yes, if they are eligible and related to your business.
Businesses required to register but failing to do so may face penalties.
Yes, if turnover exceeds ₹20 lakh annually (for services).
Yes, GST registration can be canceled if business turnover falls below the threshold or business ceases.
₹50 per day for normal taxpayers; ₹20 per day for those under the composition scheme.
Certain goods/services are exempt, and businesses below the threshold may not need to register.
Use the GST portal with your ARN or TRN to track the status.
Yes, one for each state in which the business operates.
Only taxable supplies require GST; exempt items do not.
An invoice that includes GSTIN, invoice number, date, and HSN code for goods.
Exports are zero-rated; GST is refundable under certain conditions.
Yes, if operating in multiple states or engaging in different business verticals.
Yes, digital services are subject to GST.
Monthly for regular taxpayers; quarterly for small taxpayers under ₹5 crore turnover.
Yes, amendments can be made on the GST portal.


Registering for GST offers a world of opportunities for businesses in India. With YathraFin, the GST registration process becomes straightforward and efficient, allowing you to focus on your business without getting bogged down by compliance worries. Whether you’re a small business or a growing enterprise, start your journey with YathraFin and enjoy the benefits of GST today!

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