GST Registration in Mumbai
GST Registration in Mumbai – Mumbai is the finance capital of India, if you run a business in Mumbai that generates more than 40 lakhs in revenue? Your company will then register with the Indian government as a taxpayer and for GST. While some businesses will register for GST, others may have the choice to do so.
For those who must register for GST in Mumbai or operating a business without paying GST is illegal in India. If you are eligible for GST or must register because of a legal need, you should do it right away. It should take 2 to 6 working days to complete GST.
The bizcurize team will help you with the Online GST registration in Mumbai. Our experts do all the processes online and assist you to complete all your paperwork.
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What is GST?
The Goods and Services Tax (GST) has brought significant tax reforms to India. Since its start in 2017, it’s been successful in eliminating the tax on tax, or the cascading effect of taxes. Every time an item changes hands in its supply chain, GST is applied.
In this article, we discuss the requirements for GST registration in Mumbai will be covered in this post, along with who should complete it.
GST Limit in Mumbai
At the time of the start of the GST, a barrier of 20 lakhs was initially established for taxpayers in Mumbai to register. Mumbai now honors a 40 lakh rupee threshold limit for the selling of items. On the other hand, the 20 lakh rupee threshold restriction for service providers in Mumbai has not changed.
Maharashtra’s GST state code is 27, according to the list of GST state codes. For instance, the first two digits of a GSTIN (27) represent the GST state code for Maharashtra. Maharashtra is indicated as the business’s location by the GST state code. No business in Maharashtra that has passed the threshold limit may operate without a GST code issued by the state.
Who is eligible for the GST registration in Mumbai?
The following points are required for the GST registration in Mumbai
- Individuals who are listed as Pre-GST law contributions Businesses whose annual revenue exceeds the threshold level of Rs. 40 lakh, Rs. 20 lakh, or Rs. 10 lakh, depending on the situation
- A non-resident taxable person
- casual taxpayer
- Agents of a supplier and distributors of input services that pay tax using the reverse charge mechanism
- A supplier through an e-commerce Operator
- Every e-commerce organizer
Anyone who provides online information and database access or retrieval services to a person in India who is not a registered taxable person from a location outside of India.
Types Of GST
Due to India’s dual GST model, certain taxable commodities must be subject to both central and state GST. Each interstate sale of goods and services is subject to a tax levied by the federal and state governments. GST comes in three different types.
- CGST: The central government in India collects the Central Goods and Service Tax (CGST) on all categories of goods and services that are provided inside a state. Revenue is gathered under CGST by the Indian national government. Only CGST and IGST can be used as input tax credits for purchases.
- SGST: The State Goods and Service Tax is collected by the state government (SGST). It is comparable to the CGST and likewise applies to products and services delivered within the state. The funds and revenues of the state government are funded by the SGST earnings. Only SGST and IGST inputs are eligible for the SGST input tax credit. The central and state GSTs are unable to claim input tax credits based on one another’s data.
- IGST: When the supplier and the buyer are in separate states, the Inter-State Goods and Service Tax (IGST) is applied. The state government, which imported the products, receives a portion of the tax income collected by the federal government in addition to the IGST revenue. The CGST, SGST, and IGST are all eligible for the input tax credit of the IGST.
Mandatory Documents Requirement for the Online GST registration in Mumbai
The following document requirement is mandatory for the Online GST Registration in Mumbai:
Aadhar card of partners
Company Pan Card
PAN Card of Partners
PAN Card of Partners
Aadhar Card of Directories
PAN Card of LLP
PAN Card of Directories
Aadhar Card of Partners
Company Address Proof (Electricity Bill, NOC, Rent Agreement)
Company Address (Electricity Bill, NOC, Rent Agreement)
Company Address Proof (NOC/rent Agreement/Electricity Bill)
Company Address Proof(NOC/Electricity Bill/Rent Agreement)
Latest Bank Statement
PAN card of partnership Firm
Latest Bank State Statement
Color Photo of Partners
Latest Bank Statement
MOA and AOA
Certificate of Incorporation
Certificate of Incorporation
Benefits of GST Registration in Mumbai
There are various benefits of Online GST registration in Mumbai, which we discuss here:
The most essential prerequisite for identifying taxpayers and ensuring economic tax compliance in every tax system is registration. Any business organization that registers under the GST Law must receive a special GST Number from the GST Department to collect taxes and claim input tax credits for the taxes paid on its inward supplies. A person cannot claim an input tax credit for taxes paid by him without first registering, nor can they collect tax from their clients.
- He is authorized by the law of supplier of Goods and Services.
- Allowed by law to remit GST on the sale of goods or services: A person who has not registered for GST is not permitted to charge GST to clients or to claim any input tax credits for GST he has already paid on goods and services.
- Advantages of an Input Tax Credit: A registered supplier will provide a tax invoice that will further enable a registered dealer to claim input tax credits for any purchases and services they have made, and they can then use those credits to pay any taxes owed on the provision of products or services.
- Have become qualified to use many other benefits and advantages provided by the GST laws.
- A proper accounting of taxes paid on input goods or services that can be used to cover GST due on a business’s provision of goods or services, or both.
The Process of Online GST registration in Mumbai
The following steps must be properly followed for the Online GST registration in Mumbai.
- Click on the Government Portal tab for the Online GST registration in Mumbai, https://reg.gst.gov.in/registration
- Enter the necessary information for Form GST REG-01 in Part-A.
- You will get a reference number on your phone and email upon OTP verification.
- The above form’s Part-B follows. Put in the necessary information and sign it with a DSC or EVC. The cited documents must be uploaded to the website for verification.
- The system will produce a GST REG-02 form to confirm the upload of the prior form was successful.
- You will be notified by form GST REG-03 of any pending papers that need to be uploaded. Within 7 days, the pending documents must be uploaded in the GST REG-04 form.
- You will receive a rejection notice on Form GST REG-05 if your application is not appropriate.
- After doing all necessary checks, if it finds your application to be acceptable then the department will offer you a registration certificate in GST REG-06.
The paperwork needed to register can change depending on the sort of applicant. Aadhar card, PAN card, proof of address for the applicant’s workplace, a photograph of any linked individuals, bank account information, and a certificate of eligibility are some of the crucial documents required.
How the Bizcurise team will help you to get the Online GST registration in Mumbai?
After we receive your request, Our experts contact the applicant and ascertain the location of the applicant’s business, and the applicant’s business activity.
Our team will collect all the documents needed to apply for the Online GST registration in Mumbai.
After the registration process begins our advisors that are professional and experienced solve your queries related to GST registration.
It will take 3 to 7 working days for the Online GST registration in Mumbai. Everything is done online. The applicant does not need to be present in person at the office for registration.
After getting the GST registration, our team will inform you.
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