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Gst registration

10 October 2018

Hi,

We are one of the private limited company in Hyderabad with annual revenues about 12 Lacs .

Do we need to take GST and also what are the complications that as a company involved in taking GST.

When we bill customers most of them are asking GST No. some times we not getting eligibility when we do not have GST No.

Please Suggest.

Regards

Srini

+91-9441333479

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8 Replies

A B Kundu (Professional) (1422 Points)
Replied 10 October 2018

Your customers are asking your GSTIN because if you have GSTIN then you will have to issue tax invoice based on which they can avail ITC. Normally if you don't fullfil the basic conditions to have GSTIN (like turnover limit, inter state transactions, export transaction etc.) then you don't need to obtain the same.

But, although you don't need to obtain GSTIN but for smooth functioning of business you have to take it otherwise your clients would stop to purchase from you as they are not getting credit on the same. So, convince the clients and decide accordingly.

prasad Nilugal (3914 Points)
Replied 10 October 2018

Are you sending. taxable goods out side the state.?

RAKELA SRINIVAS (Manager) (25 Points)
Replied 10 October 2018

Thank you for quick reply,

Finally i have been experiencing this from the last couple of years and you are right, i am seeing that losing the sale because of the GST Registration. I think i have to go for GST now though we are excempted due to financials.

What is the process of taking GST and i heard that it is every month tedious work in filing / etc ...

Please Clarify .

Once again thank you

Regards

Srini

RAKELA SRINIVAS (Manager) (25 Points)
Replied 10 October 2018

Sorry i missed mentioning nature of work. We are one of the Software Development Company.

Our selling point is Software Services . We are also getting into SAAS model and giving the solutions to business.

We do have some customized products that would be sold to customers.

Please Suggest.

Regards

Srini

prasad Nilugal ( GST Practitioner & Accounts ) (14163 Points)
Replied 10 October 2018

Log on GSTN portal Gst.gov.in ,you will get all info in help section.

Puja Sharma (CA) (433 Points)
Replied 10 October 2018

GST Registration is mandatory if the aggregate Turnover of Company is more than 20.00 Lacs and in some special category states Rs. 10.00 Lacs. In your case since your turnover is Rs. 12.00 Lacs only, then you are not required to obtain GST Reg. However you can voluntarily apply. In acse of Voulntary reg. you will have to fulfill all the conditions that applies to all reg. person. Sometimes this registration may create an impact on your party and will help in the business.

Further in following cases GST Registration is mandatory irrespective of the Turnover:

a. For making Interstate Supply.

b. For Existing Taxpayers under VAT, Excise, Service Tax.

c. For Casual Taxable Person.

d. For E-Commerce Sellers.

A B Kundu (Professional) (1422 Points)
Replied 10 October 2018

Originally posted by : RAKELA SRINIVAS
	Thank you for quick reply, Finally i have been experiencing this from the last couple of years and you are right, i am seeing that losing the sale because of the GST Registration. I think i have to go for GST now though we are excempted due to financials. What is the process of taking GST and i heard that it is every month tedious work in filing / etc ... Please Clarify . Once again thank you Regards Srini

Please go to gst.gov.in, there you will find the procedure and documents required for obtaining registration.

And, yes, after taking GST registration the workload would increase definitely due to filing of monthly / quarterly return, maintaining proper books regarding inward and outward supplies etc.

It is recommended to consult a professional than do all the thing on your own.

Puja Sharma (CA) (433 Points)
Replied 10 October 2018

The process of GST Reg. is simple. You have to create an account at the GST Portal fill the information and upload few docs. The link is mentioned below:

https://reg.gst.gov.in/registration/

The below link at the portal will completely guide you in the GST registration process.

https://www.gst.gov.in/docadvisor/

Further, after GST Reg. you have to comply and file few monthly returns, but that is not that tedious. It will be better to hire a consultant so that you do not miss any updates and deadlines.