Q1: Is GST registration mandatory for my business in Noida?
Yes, GST registration is mandatory for businesses in Noida with an annual turnover exceeding ₹20 lakhs for services and ₹40 lakhs for goods. Additionally, businesses engaged in interstate supply, irrespective of turnover, must also register.
Q2: What documents are required for GST registration?
The documents required for GST registration include:
- PAN Card of the business and applicant
- Proof of business registration or incorporation certificate
- Identity and address proof of promoters/directors with photographs
- Address proof of the business place
- Letter of Authorization/Board Resolution for authorized signatory
Q3: How long does it take to get GST registration in Noida?
The GST registration process in Noida typically takes between 3 to 7 working days, provided all documents are in order and there are no discrepancies.
Q4: Can I apply for GST registration online?
Yes, the entire GST registration process can be completed online through the official GST portal. You can also seek assistance from GST experts or online platforms that offer registration services.
Q5: What are the benefits of GST registration?
The benefits of GST registration include:
- Legal recognition of your business
- Ability to collect GST from customers
- Eligibility to claim input tax credit
- Simplified tax structure and compliance
- Enhanced credibility and market reach
Q6: What is the penalty for not registering under GST?
Failure to register under GST when required can result in a penalty of 10% of the tax due or a minimum of ₹10,000. In cases of deliberate tax evasion, the penalty can be 100% of the tax due.
Q7: Can I cancel my GST registration?
Yes, you can apply for cancellation of GST registration if your business ceases to operate or if your turnover falls below the threshold limit. The application for cancellation can be submitted online through the GST portal.