The GST Act, 2017 has set up the new rulebook for every kind of business in India. If the business turnover is above INR 40 lakhs, registration of GST is mandatory. However, for North-Eastern states and hill states, the turnover limit is INR 10 lakhs.

As per GST regulation, every business holder should have Goods and Service Tax Identification Number (GSTIN), which in turn helps the income tax authorities to manage records of GST filings and dues.

Benefits of GST Registration for Small Traders

The introduction of GST has come with many benefits for the small scale traders:

1. They can now have a single common registration online: All the complicated and prevailing multiple taxes were subsumed under GST. The whole process of GST registration is done online with ease and that makes things easier for the businessmen.
2. GST increases the threshold for GST registration for small businesses: The introduction of GST has revised and increased the threshold for registration for small traders, making it convenient for them to run their business.
3. There is also an additional benefit under the Composite Scheme: The option of Composite Scheme is also available for the small traders as per the GST Act, 2017.
4. Access to a common national market across India: GST introduced and promoted a singular open market in India with more trading options for the common people.
5. The benefits of ITC will add value to small businesses:  The small traders can avail the benefit of Input Tax Credits as per GST norms.

Documents Required for GST Registration

The main documents for GST registration include:

• A PAN card,
• Proof of business registration,
• Identity proof of the owner,
• Photographs
• Address proof of persons in charge such as electricity bill, rent agreement, ownership document, property tax statement
• The business’ address proof and bank account statements.

Guidelines for small scale business

A small scale business is eligible for GSTIN under the following guidelines:-

1. In the case of selling goods or services in another state.
2. If you are trading your products online.
3. If Import and Export of goods are involved.
4. If tax invoices are generated for customers.
5. For the reverse charge mechanism.
6. If you are working on behalf of the registered taxpayer.
7. For Input Service Distributor (ISD).
8. In the case of OIDAR (Online Information Database Access and Retrieval) service.
9. If you own or operate an e-commerce platform.
10. If your company involves as a Casual Taxable Payer outside your residing state.

How can we help you?

Registration for GST is an easy process. Online Legal India^TM helps you to register for GST with zero hassle and menial charges. The GST experts let you know about all the required documents and always guide you throughout the procedure.

From GST invoices or filing the GST returns and GST modifications, we offer all-round assistance related to GST.