1. What is GST?
GST (Goods and Services Tax) is a unified indirect tax system in India that replaces multiple taxes like VAT, service tax, and excise duty. It simplifies the taxation process for goods and services.
2. Who needs to register for GST in Lucknow?
Businesses with an annual turnover exceeding ₹40 lakhs (₹20 lakhs for special category states) for goods and ₹20 lakhs (₹10 lakhs for special category states) for services must register for GST. Additionally, businesses involved in inter-state supply, e-commerce operators, and casual taxable persons are required to register1.
3. What documents are required for GST registration?
The essential documents for GST registration include:
- PAN Card of the business or applicant
- Proof of business registration or incorporation certificate
- Identity and address proof of promoters/directors with photographs
- Address proof of the business place
- Bank account statement or a cancelled cheque
4. How can I register for GST in Lucknow?
To register for GST in Lucknow, follow these steps:
- Visit the official GST portal and click on ‘Register Now’.
- Fill in the necessary details like PAN, mobile number, and email address.
- Upload the required documents for verification.
- Complete the verification process through OTP or digital signature.
- Once verified, you will receive your GST Identification Number (GSTIN).
5. What are the benefits of GST registration?
GST registration offers several benefits, including:
- Simplified taxation process
- Lower costs due to the elimination of the cascading effect of taxes
- Legal compliance and avoidance of penalties
- Eligibility to claim input tax credit
6. What is the turnover threshold for GST registration?
The turnover threshold for GST registration is ₹40 lakhs for goods and ₹20 lakhs for services. For special category states, the threshold is ₹20 lakhs for goods and ₹10 lakhs for services1.
7. What is the penalty for not registering under GST?
Failure to register for GST when required can result in a penalty of 10% of the tax due or a minimum of ₹10,000. If the tax evasion is deliberate, the penalty can be 100% of the tax due.
8. Can I apply for GST registration online?
Yes, the entire process of GST registration can be completed online through the official GST portal.
9. How long does it take to get a GSTIN?
Once the application and documents are submitted, it typically takes 2-6 working days to receive the GST Identification Number (GSTIN), provided there are no discrepancies.
10. Is there any post-registration compliance?
Yes, after obtaining GST registration, businesses must comply with various requirements such as filing GST returns regularly, maintaining proper records, and timely payment of GST.