GST REGISTRATION FOR PRIVATE LIMITED COMPANY

INTRODUCTION

In India, GST registration for a Private Limited Company is important if its revenue surpasses ₹40 lakhs for goods and ₹20 lakhs for services, or if it does e-commerce or interstate transactions. The Aadhaar and PAN cards of each director, corporate photos, the Certificate of Incorporation, the Letter of Authorization, and evidence of the primary place of business are among the documents required for GST registration of a private limited company. You can find out if the application is pending, authorized, or needs more explanation by checking the GST registration status on the official GST portal.Even though GST registration fees are typically free, professional fees could be charged based on the state’s laws and the nature of the company. With the aid of tracking your GST application, you can monitor the progress of your application. Filling out the application on the GST portal, obtaining a Temporary Reference Number (TRN), and completing Part-B of the application for verification are all steps in the GST registration process. After registering, the business is assigned a unique GSTIN and is required to maintain records for input tax credit claims as well as submit regular GST filings.

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GST REGISTRATION FOR PRIVATE LIMITED COMPANY

GST registration for a Private Limited Company in India is mandatory if the company’s turnover exceeds ₹40 lakhs for goods (₹20 lakhs in special category states) or ₹20 lakhs for services (₹10 lakhs in special category states). Regardless of turnover, it is also necessary for e-commerce vendors or for interstate transactions. In order to register, one must go to the official GST portal, complete the application, and submit it for verification with the company’s PAN, proof of address, and the authorized signatory’s documents. Following approval, the business is given a distinct GSTIN (Goods and Services Tax Identification Number), which it must use on invoices and in tax filings. In order to collect the input tax credit (ITC) on purchases, compliance entails filing GST returns on a regular basis and keeping records.

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DOCUMENTS REQUIRED FOR GST REGISTRATION OF PRIVATE LIMITED COMPANY

Documents required for registering under GST for a private limited company, are as follows:

1. Aadhaar Card of all Directors:All directors’ Aadhaar cards are essential for confirming their identities.

2. PAN Cardof all Directors: All directors must have a PAN card in order to be identified for tax purposes.

3. Recent Photographsof all Directors:Current photos of each director are required for official documentation.

4. PAN Card of the Company:The company’s PAN card is very important whenitsrelated to tax matters.

5. Certificate of Incorporation: It is evidence of the existence of the business.

6. Letter of Authorisation:Letter of Authorization: It is a signatory permission to register for GST by the agent.

7. Proof of Principal Place of Business: consists of utility bills and ownership documentation or a lease or rental agreement.

• For owned premises:A recent electricity bill and proof of property ownership.
• For rented premises:A recent electricity bill and the rental agreement.

PROCEDURE OF GST REGISTRATION

The process for registering your private limited company under GST involves several key steps:

1. Visit the GST Portal: To begin the registration process, go to the official GST portal.
2. Enter Required Details in the Application:The portal will ask for a number of business-related facts. To prevent any delays, fill these out completely.
3. Receive TRN (Temporary Reference Number):You will get a TRN after providing the necessary information and having the phone number confirmed. Completing Part-B of the GST registration process requires this number.
4. Complete Part-B of the Application: You must include detailed information about your company and the directors in this section. Make sure all of the data is input correctly. To submit the form, an OTP must be issued to the registered mobile number for verification.

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GST REGISTRATION FEES

Using the GST Registration fees on the GST portal is free of charge. The procedure is entirely online and free. The GST registration procedure, however, may be time-consuming and exhausting. Therefore, a professional is required to complete the registration, and the cost may differ depending on the type of business or the individual completing it.

The GST registration fees are often influenced by the following factors:

• Hiring a tax consultant: If you decide to hire a professional to assist you with the GST registration process, you will have to pay them extra.
• Government policy changes: Any adjustments to GST laws may have an effect on registration costs. Keeping abreast on the most recent developments is crucial.
• State-specific fees: There may be extra costs associated with GST registration in some states.
• Business type: The kind of business can affect the GST registration procedure and, possibly, the related GST registration fee.

GST REGISTRATION STATUS

You can check your GST registration status by following the steps given below:

1. Visit the official GST portal at https://www.gst.gov.in/.
2. Click on the ‘Services’ tab and select ‘Track Application Status’ from the drop-down menu.
3. Select registration as your module.
4. Type in your ARN and click on the “Search” button.
5. You will be shown your GST status.

GST REGISTRATION TRACKING

Your application for GST registration is not immediately accepted. The status of the application may change at each step of the procedure. Verifying the status is essential to ensure that your company is in compliance and to prevent fines or legal problems for operating without the required registration.

You may rapidly determine whether your application is pending, denied, or accepted by routinely checking the status.

Common GST Registration Statuses are:

You will see a range of outcomes when you check your status. What they mean and what you should do, if anything, are as follows:

• Pending Processing: The tax authorities are currently reviewing your application.
• Accepted: Congratulations! Your application has been approved, and your GSTIN will be sent to you shortly.
• Clarification Needed: More information or papers must be submitted. To prevent rejection, respond as soon as possible.
• Rejected: Because of inaccurate or insufficient information, your application has been denied. Once you have resolved the difficulties, you will need to reapply.

CONCLUSION

In conclusion, it is essential for legal business activities in India to comprehend the procedure and compliance criteria of GST registration for private limited companies. While avoiding penalties, it guarantees ability to receive and claim input tax credits. Accurate submission of the necessary paperwork, including the directors’ Aadhaar and PAN cards, the company PAN, the Certificate of Incorporation, and proof of business address, is necessary for the GST registration of private limited companies. Visiting the GST portal, entering business information, acquiring a TRN, and completing Part-B of the application for verification are all steps in the GST registration process. Businesses may pay professional expenses depending on their demands, even if the GST registration fees are ostensibly free on the web.To find out if the application is pending, accepted, or requires clarification, it is crucial to keep an eye on the GST registration status. Using GST registration tracking on a regular basis helps guarantee that the application process goes successfully and that the company stays in compliance with GST regulations.

By providing all-inclusive solutions, such as GST registration, company creation, and more, TMWALA streamlines legal services for businesses. For both new and established businesses, their user-friendly platform guarantees effective, economical, and smooth legal solutions. TMWALA offers end-to-end services with a staff of skilled experts to guarantee your company accurately and effectively satisfies all GST regulations.