How do I register my small business for GST?
To register for GST, the following documents are required:
- Company PAN Card.
- Photographs (passport size)
- Identity proofs like Aadhar Card/Passport/Driving Licence.
- Proof of address for your offices.
- Bank details via a statement/cancelled cheque or passbook.
- Certificate of association for Private Ltd Company or LLP/ OPC.
Can I register for GST by myself?
You can register for goods and services tax (GST) online, by phone or through your registered tax or BAS agent when you first register your business or at any later time. This is called ‘standard GST’ registration. You only need to register for GST once, even if you operate more than one business.
Does a small business need to register for GST?
As a business owner, it’s your responsibility to register for GST if your turnover exceeds the $75,000 threshold or is likely to exceed it. The ATO advises that if you’ve just started a new business and expect it to earn $75 000 or more in its first year of operation, you should register for GST.
Is GST registration free?
GST Registration Fees
Although the government of India does not charge any fee for the purpose of GST Registration under the Goods and Services Tax (GST) regime, individuals and entities registering for GST through the online registration process are required to pay a fee for the services availed from professionals.
Who is eligible for GST registration?
In the GST Regime, businesses whose turnover exceeds Rs. 40 lakhs* (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. This process of registration is called GST registration. For certain businesses, registration under GST is mandatory.
How do I register an individual for GST?
Go to official GST portal – https://www.gst.gov.in/ and under the services tab, choose Services > Registration > New Registration. You can also apply for GST using our exclusive offer for Amazon by clicking here.
How do I register a GST for a sole proprietorship?
- PAN card, photo and Aadhar Card of the proprietor.
- Proof of business place (electricity bill/ rent agreement)
- Bank statement copy (first page for verifying bank account number, address and IFSC code)
How much it cost for GST registration?
8. What is the GST registration fee? For GST registration in India, there is no government fee. Anyone can get the GST registration for free of cost.
Should I register for GST as a sole trader?
As a sole trader, you are required to be registered for GST purposes if one or more of the following are true: Your turnover from your business activity is over $75,000 annually (this does not include salary or any other income earned outside of your ABN), or.
What happens if I charge GST but am not registered?
If you are not registered for GST, as you are under the $75,000 threshold, you do not have to charge GST. … However, if you do backdate your registration to when you did not charge GST you will have to pay the ATO the amount you would have collected in GST at the time as if you did charge GST.
Do I have to pay GST if I make less than 30 000?
You have to register for GST if your business or enterprise has a GST turnover of $75,000 or more a year, the ATO says on its website. Businesses that have a turnover of less than $75,000 a year are not required to register for the GST. … However, even if you are below the threshold, you can collect GST.
Do sole traders pay GST?
Aside from income tax, the other tax that can apply to sole traders is GST. … Not all sole traders need to register for and pay GST, but in general if you earn over $75,000 per financial year or drive taxis, it’s mandatory.