GST Registration For Startup Companies
In India, GST registration is mandatory for businesses with an annual turnover of more than Rs. 40 lakhs (for goods suppliers) and Rs. 20 lakhs (for service providers). However, even if your startup’s annual turnover is below the threshold limit, you can voluntarily register for GST to avail benefits like input tax credit, ease of doing business, and expand your customer base.
Here are the steps to register for GST for your startup:
- Obtain a PAN card and open a current bank account in the name of the business.
- Obtain all the necessary documents like proof of address, identity, and registration of the business.
- Visit the GST portal (https://www.gst.gov.in/) and click on the ‘Services’ tab.
- Choose ‘New Registration’ and fill in the required details in the form.
- Upload the necessary documents and submit the form.
- Once submitted, you will receive an Application Reference Number (ARN) through email and SMS.
- Your application will be verified by the GST officer, and if everything is found to be in order, your GSTIN (Goods and Services Tax Identification Number) will be generated.
It is important to note that GST returns need to be filed on a regular basis, and failing to do so can result in penalties. Therefore, professional help for managing your startup’s GST compliance.
Contact Us
- Mob No-9650214809
- Mail id-info@trumints.com
- Url-www.trumints.com