GST and You, for the Biggest Migration
With GST replacing most of the indirect tax especially VAT and Service Tax, it becomes necessary for existing suppliers (registered at respective tax authority) to migrate to GST at earliest. GST Registration is necessary to claim Input tax credit or to collect the tax from customers
LIABILITY TO GET REGISTERED UNDER GST
Any supplier having an aggregate turnover of Rs. 20 Lakhs or more needs to be registered at State from where it makes a taxable supply of Goods and Services. This limit is Rs.10 Lakhs if the business is carried out in the North Eastern States including Sikkim.
MIGRATION TO GST
Section 166 of Model GST law provides for Migration of existing taxpayers. Here existing taxpayer means assesses registered under any acts as specified, i.e.
- Central Excise
- Service Tax
- State Sales Tax/VAT
- Entry Tax
- Luxury Tax and
- Entertainment Tax (except levied by the local bodies).
The whole procedure of Migration can be divided into two parts:
- Issuance of Provisional ID &Password – In order to get your GST Number, you need to get a provisional Id and password. The government has digitized the whole procedure. For your provisional ID, you need to log in to the website of Automation of Central Excise and Service Tax using existing aces user id.
- GST Registration: GST REG20 is required to be filled after receiving the provisional ID. A unique username and password are to be created using above provisional id and password at GST Registration Portal (www.gst.gov.in).
Documents Required for Migration:
- Proof of Constitution of Business depending upon nature of the business.
- Passport Photos and Details of Promoter/ Partner/ Director/ Karta
- Proof of Appointment of Authorized Signatory and Photo
- Address Proof of Principal Place of business and additional places if any
- Details of Bank Accounts with statements or at least first page of statement
- Details of Goods and Services Supplied