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An Overview Of GST Registration In Kolkata

GST is one of the biggest reforms in our country introduced by the Indian government in 2017. In Kolkata GST registration is mandatory for businesses with an annual turnover of more than Rs. 40 Lakh from the sale of goods and Rs. 20 Lakh from services. This tax varies from 0% to 28% depending upon the nature of the business. Under this new unified tax system, businesses need to be registered for GST to sell goods or for providing services. The businesses that fail to register themselves are not allowed to collect the amount of GST from their customers. They are not even allowed to claim the input tax credit. If any organization is found to break this rule they will be penalized for their action. Therefore, GST registration in Kolkata is crucial for every business to operate smoothly and stay compliant with the tax laws of the country.

 

GST registration is helping many businesses to comply with the tax laws of the country and avoid legal consequences. It provides credibility to the business as it is proof that the business is registered with the government and is operating legally.

 

If you are looking for a professional who can help you in the GST registration process, then can consult India Vakil. Our tax consultants are ready to guide you throughout the entire process so that you can run your business smoothly. The process is done online through the GST registration portal. We aim to make every GST registration in Kolkata hassle-free and affordable through our expertise and most efficient techniques.

Easy Gst Registration In Kolkata

Threshold Limit For Gst Registration In Kolkata

GST Act was introduced on 1st July 2017 in India and since then many changes have been made in its rules and regulations. This is why people in our country stay confused regarding the threshold GST registration limit.

In Kolkata, the threshold limit for GST registration is an annual turnover of Rs. 40 Lakh for businesses selling goods. Whereas, the business that is engaged in the supply of services and whose annual turnover is more than Rs. 20 Lakh is required to get the GST registration done. However, for businesses located in the northeastern states of India and hilly areas, the threshold limit for GST registration is Rs. 10 lakh per annum.

Benefits of GST Registration in Kolkata

There are numerous benefits of owning a GST registered company as it can help businesses operate more efficiently and profitably. Here are some of the main benefits of GST number registration:

  • GST registration ensures that businesses are operating legally and in compliance with the tax laws of the country.
  • Businesses that are registered under GST are eligible to claim the input tax credit on the tax paid on purchases and expenses, which can result in significant cost savings.
  • GST registration provides credibility to the business as it is proof that the business is registered with the government and is operating legally.
  • GST registration is mandatory for businesses engaged in inter-state transactions, and it enables them to claim the input tax credit on taxes paid in other states.
  • E-commerce businesses are required to register under GST, and it enables them to collect and remit GST on behalf of their suppliers.
  • GST registration enables businesses to expand their operations across state borders without the need for multiple tax registrations.
  • GST registration enables small businesses to voluntarily register under GST even if their turnover is below the threshold limit, which can help them compete with larger businesses.
  • The whole GST registration procedure is completely online. You can take the help of a tax expert to complete GST registration online hassle-free.
  • Many daily use items as well as luxury cars will become less cheap than before.
  • The GST process also benefits our economic activity which results in the generation of more jobs opportunity.

Overall, GST registration in Kolkata can provide numerous benefits to businesses and enable them to operate more efficiently and profitably.

Who Needs To Apply For Gst Number In Kolkata?

Any individual or business entity engaged in the supply of goods or services with an annual turnover exceeding Rs. 20 lakhs (Rs. 10 lakhs for northeastern and hilly states) is required to register for a GST number.

  • If someone is operating a business in more than one state.
  • If a business is registered previously under VAT, Excise laws, and Service tax laws.
  • If you are selling your goods or services online.
  • If you are selling goods or services outside India.

Basic Components Required To Be Considered For GST Registration In Kolkata

In a federal country like India, there was a need for a model that ensures that the taxing powers are divided between the central and state governments while avoiding the problem of double taxation. Therefore, the Dual GST Model was introduced in which the taxing powers are divided between the central and state governments. Under this model, both the central and state governments have the power to levy and collect GST on the supply of goods and services within their respective jurisdictions. The basic components of GST are as follows:

CGST (Central Goods and Services Tax)

This is the tax collected by the Central Government on the intra-state supply of goods and services. If the supplier and buyer have made the deal in the same state then it is known as Intra state supply of goods and services. The revenue collected from CGST is shared between the central and state governments.

SGST (State Goods and Services Tax)

This is the tax collected by the State Government on the intra-state supply of goods and services. The revenue collected from SGST is kept by the state government.

IGST (Integrated Goods and Services Tax)

This is the tax collected by the Central Government on the inter-state supply of goods and services. In this component, the seller has to collect the tax from the buyer. The revenue collected from IGST is shared between the central and state governments.

UTGST (Union Territory Goods and Services Tax)

This tax is applicable when any goods or services are consumed in the Indian union territories. The revenue generated is collected by the union territories.

The Necessary Documents Required For GST Registration in Kolkata

To register for GST in India, the following new GST registration documents are required:

Documents Needed For Gst Registration For Individual

  • PAN card of the proprietor.
  • Aadhaar card of the proprietor.
  • Business Address proof, such as an electricity bill or property deed.
  • Bank account statement or canceled cheque.
  • Passport-sized photograph of the proprietor.
  • Business activities information, including the nature of the business and the goods or services provided.

Documents Needed For Partnership Firm To Apply For Gst Number Online

  • PAN card of each owner.
  • Aadhaar card of all partners.
  • Partnership Deed of the Firm.
  • Proof of business ownership, such as a rental agreement or property deed.
  • Bank account statement or canceled cheque of the Firm.
  • Mobile number and email id of each partner.
  • Passport-sized photograph of all partners.
  • Business activities information, including the nature of the business and the goods or services provided.
  • Address proof of the principal place of business.
  • Authorization letter for authorized signatory, if applicable.

Documents Needed For Gst Registration For Hindu Undivided Family

  • PAN card of the Karta.
  • Aadhaar card of Karta.
  • 2 Proof of business ownership, such as a rental agreement or property deed.
  • Bank account statement or canceled cheque.
  • Passport-sized photograph of Karta.
  • Business activities information and name.
  • Authorization letter for authorized signatory, if applicable.
  • Mobile number and email-id.

Gst Registration Documents Check List For Company

  • PAN card of the company owner.
  • Aadhaar card of designating partners
  • Passport-size photo of each director.
  • Any 2 address proof for GST registration.
  • Canceled cheque or a bank statement of the firm.
  • Mobile number and email id of each director.
  • Authorized Signatory letter.

GST Registration Fees in Kolkata

The cost of new GST registration fees in Kolkata depends on the type of business entity and the annual turnover. As experienced tax consultants Kolkata, we understand that the process of GST registration can be a daunting task for many business owners. However, we are here to assure you that we can make this process hassle-free and efficient for you. You can file new GST registration for your business with us at a very reasonable price. Our GST registration fees in Kolkata start from 5000 (Registration + 1 month/ 1 quarter filling complimentary).

Our team of experts can assist you every step of the way so that you can get your GST registration in Kolkata within a week.

GST Registration Fees in Kolkata

Here are some important steps that you need to follow to complete the procedure for registration under GST-

  • Visit the GST Portal Visit the official GST portal at www.gst.gov.in and click on the “Register Now” button.
  • Enter Your Basic Details Fill in your basic details such as name, PAN (Permanent Account Number), respective state and district, email ID, and mobile number.
  • Enter the captcha shown on the screen and click on the “Proceed” option.
  • Enter the OTP (One-Time Password) sent on your registered email ID and mobile number in the given space.
  • Once the OTP is verified, you will be able to see a Temporary Reference Number (TRN) on your screen. Note it down for login purposes.
  • Log in to GST Portal using the TRN and fill in the rest of the registration form, including the business details, bank account details, and authorized signatory details.
  • Upload the Required Documents such as PAN card, address proof, bank statement, and photographs of the applicant.
  • Submit the Application after verifying all the details and documents to get your GST certificate online.
  • Once the GST new registration process is completed, you will receive an Application Reference Number (ARN) on your registered mobile number and email id.
  • Now you can track the application status using the ARN on the GST portal. The application status will be updated to “Approved” once the registration process is complete.
  • Finally, you will be able to download the GST Identification Number (GSTIN) and the GST certificate from the portal.

The process of getting a GST registration certificate online may vary depending on the type of business entity and other factors. Hence, it is better to seek the guidance of a tax consultant to ensure smooth and hassle-free GST registration in Kolkata.

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Frequently Asked Questions About GST Registration in Kolkata

What is GST?

GST stands for Goods and Services Tax. It is a comprehensive indirect tax levied on the supply of goods and services in India. It was implemented in India on July 1, 2017, to replace multiple indirect taxes such as excise duty, service tax, and value-added tax (VAT).

What is the advantage of getting a GST registration in Kolkata?

By obtaining GST registration in Kolkata you can legally collect taxes from your customers, claim the input tax credit and expand your business through online platforms globally.

Which businesses are required to obtain a GST registration certificate in Kolkata?

In Kolkata, businesses selling services with an annual turnover of over Rs. 20 lakhs and goods of Rs. 40 lakhs are required to obtain a GST (Goods and Services Tax) registration certificate.

What documents are required for online GST registration in Kolkata?

To register your business for GST you will require a PAN Card, Aadhar card, Business registration proof, address proof, bank account details, passport-size photographs, email id, and mobile number.

Is pan required to fill out a GST registration form?

Yes, a PAN Card is necessary for any form of GST registration in Kolkata. registration proof, address proof, bank account details, passport-size photographs, email id, and mobile number.

Is GST mandatory for selling goods online?

Yes, any person who is selling goods on an e-commerce site needs to obtain a GST Identification number in Kolkata.

When can GST registration be canceled?

GST registration can be canceled due to the Closure of Business if a taxpayer fails to pay taxes, and in case of the death of the proprietor or for transfer of business.

What is the validity of a GST registration in Kolkata?

The GST registration obtained in Kolkata or any other part of India does not have a fixed validity period. It is a permanent registration unless canceled or surrendered voluntarily.

How to download a GST certificate online?

To download the GST certificate, log in to the GST India portal using your login credentials. Go to the services option, choose user services, and click on the download button.

How many types of GST tax is applicable in India?

There are mainly four GST types in India which are as follows – IGST, SGST, CGST, and UTGST.

Is the GST registration process available in other languages than English?

Yes, the GST registration application is available in multiple languages on the GST portal. Apart from English, the application is available in Hindi and other regional languages as well, such as Bengali, Gujarati, Marathi, Tamil, Telugu, and more.