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What is GST?

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GST is a product of the biggest tax reform in Mumbai that has tremendously improved the ease of doing business and also increased the taxpayer base in Mumbai by including millions of small businesses under one uniform tax system. The tax complexities have reduced considerably due to the introduction of GST in Mumbai . As multiple tax systems are abolished and subsumed into a single, simple tax system under GST.

The GST regime mandates that all the entities that are involved in buying or selling the goods or providing services or both are required to register and obtain the GSTIN.

What is GSTIN?

GSTIN is a unique 15 digit code that is allocated to every taxpayer that has valid GST registration in Mumbai. It is a unique code that is allocated to every taxpayer which is given based on the state and the PAN. GSTIN is mandatory for businesses when the annual turnover is exceeding Rs.20 lakh. If the business is carrying out a business e-commerce platform it is necessary to obtain the GSTIN.

GST registration is mandatory once the entity is crossing a minimum threshold turnover or when the individual starts a new business that is expecting to cross the prescribed turnover.

Who is eligible to obtain GST registration?

Businesses are required to get a GST registration if they fall in the below categories.

1. Aggregate turnover
   A service provider that is providing services valuing more than Rs.20 Lakhs aggregate in a year is needed to get GST Registration. Whereas an entity that is engaged exclusively in the supply of the goods whose aggregate turnover crosses Rs. 40 lakh is required to get GST registration mandatorily.
2. Interstate Business
   An entity should get GST registration in MUMBAI if they are involved in supplying goods from one state to another.
3. E-commerce platform
   Any individuals that supply goods or services through the E-commerce platform should get the GST registration in MUMBAI. The individuals shall register under GST irrespective of the turnover. To commence with an E-commerce business it is necessary to obtain the GST registration.
4. Casual taxable persons
   An individual who is undertaking the supply of Goods or services seasonally or intermittently through a temporary stall or shop is required to get GST registration. Irrespective of the turnover the individual should apply for GST registration
5. Voluntary registration
   An entity can obtain GST registration voluntarily, earlier an entity that has a voluntary GST registration was not able to surrender GST registration for up to a year. After the recent revisions, voluntary GST registration can be surrendered by the applicant at any time.

What are the documents required to obtain GST registration?

The following documents must be submitted by regular taxpayers applying for GST registration.

• PAN Card of the business
• PAN of the applicant
• Identity proof of the applicant along with the photographs
• Address proof of the applicant.
• Business registration document or the Certificate of Incorporation.
• Business location proof
• Bank Account statement or canceled cheque
• Digital Signature Certificate
• Letter of authorization or Board Resolution for the authorized signatory.