The government will rely on the tax money collected to plan and implement the necessary schemes that will benefit the people as soon as you register your company for GST. If you register your company to receive GST, you make sure that tax compliance is followed.
Business indirect taxes were reduced by GST, launched in 2017, through the reduction of GST rates.
Benefits of GST Registration in Haryana
As a business owner, you have a lot of options when it comes to registering for GST. Here are some of the advantages you may benefit from registering for GST.
- As a result of GST, the logistics costs in India have been significantly reduced
- In addition to eliminating economic distortions, GST facilitates the growth of a single market since it is assessed at the point of final consumption
- Businesses are able to reduce hidden costs due to GST
- The act regulates certain unorganized and unregulated industries in India
- Increased Make in India initiatives are a result of it
- It is possible to administer taxes in a corrupt-free manner through GST
- GST is calculated on a fixed turnover under the composition scheme, which helps smaller businesses.
Procedure for Gst Registration in Haryana
Step 1: Click ‘New Registration’ on the GST portal
Step 2: Enter business details, state information, and PAN card information
Step 3: Click on Proceed after entering the OTP
Step 4: Write down the Temporary Reference Number
Step 5: Click the “Register” link in the Taxpayer menu on the GST portal
Step 6: Enter your TRN and continue
Step 7: Follow the instructions after receiving the OTP on your registered mobile number or email
Step 8: Follow the next step to find out how your application is going
Step 9: Upload your documents and fill in the required details
Step 10: After you have verified your application using one of the three methods, submit the application
Step 11: Your registered mobile number and email address will be emailed with the Application Reference Number (ARN).
Step 12: The GST portal now allows you to view the ARN’s status.
GST Registration Limit in Haryana
Haryana has a GST registration requirement if your company generates a revenue of more than 40 lakhs. In some Northeastern states, however, there are exceptions to the requirement. If you would like to register for GST in a state like Assam, Arunachal Pradesh, Himachal Pradesh, Uttarakhand, Manipur, Mizoram, Sikkim, Meghalaya, Nagaland or Tripura, then your turnover has to be above 20 lakhs.
An entity whose turnover exceeds 40 lakhs must register for GST in Haryana if they provide services worth more than 20 lakhs a year.
Documents Needed for GST Registration in Haryana
The following documents are required for GST registration in Haryana. However, the specific documents are dependent on the type of business.
GST Registration Documents for People and Sole Proprietors
- PAN card copy of the owner
- Aadhaar card copy of owner
- Photograph of the owner
- A proof of address is required
- Information about the bank account.
GST Registration Documents for Partnerships and LLPs
- Partnership deeds
- PAN cards of partners involved
- Photographs of partners
- Proof of involvement of partners
- The Aadhaar cards of the authorized signatories
- A copy of the signatory’s appointment proof
- Proof of LLP registration
- Your bank account information
- An address proof for the company’s principal office.
GST Registration Records for Hindu Undivided Families (HUFs)
- The PAN card of the HUF
- The PAN card of Karta (patriarch of the family)
- Photograph of the owner
- Details about the bank
- Proof of the principal address of the business
GST Registration Documents for Companies
- Card PAN of the company
- Certificate of incorporation issued by the Ministry of Corporate Affairs
- Association Memorandum/Articles
- Document proving the appointment of the signatory
- A copy of the signatory’s PAN card
- Card with Aadhaar number of signatory
- All directors’ PAN cards
- A copy of each director’s address
- Details of your bank account
- Proving the business’s principal address