GST Registration Annual Filing

GST stands for goods and service tax, introduced in India on 1stJuly 2017 and replaced around 15 other cascading taxes levied by the Central and State governments. Under GST, goods and services are taxed at different rates as per the categories defined by Indian Government. Various tax slabs are 0%, 5%, 12% ,18% and 28%. There is a special rate of 0.25% on rough precious and semi-precious stones and 3% on gold. In addition to this, a CESS of 22% on top of 28% GST applies on luxury items like aerated drinks, luxury cars, and tobacco products.

GST replaced other indirect taxes and is thus set to dramatically reshape the country's 2.274 trillion-dollar economy. GST Registration is compulsory for all businesses involved in the buying/selling of products or providing services or both within India.

It is noted that the status of filing GST Returns primarily depends upon how an obligation is fulfilled as well as the available status making the taxpayer conscious of the filing. To know these four statuses, the following are mentioned below. Let us have a look at it-

• FILED-VALID: This is when the GST annual return filing is performed and fulfilled by a registered taxpayer, by adhering to the requirements.
• FILED-INVALID: This status is highlighted when the GST filing has been partly fulfilled or fully remains unpaid. 
• TO BE FILED: It implies that the GST returns are due, but have not been filed. 
• SUBMITTED BUT NOT VALID: It highlights that returns have been validated, but filing continues to remain pending. 

How to view & download GST Returns online?

The steps to download GST returns online include the following steps, which are as follows-

• Step 1:- First, Enter the details and then click on ‘Login’
• Step 2:- Secondly, File GST Returns
• Step 3:- Thirdly, you may Select year and month, then click on ‘Search’
• Step 4:- Then, Click on ‘View GSTR 1’
• Step 5:- Next click on ‘Preview’
• Step 6:- Save in the folder and right-click to show it in the folder

The Eligibility Criteria for GST Returns Annual Filing consists of the following criteria’s that include- 

• A regular enterprise is one that has a total aggregate of less than 5 crores.
• It talks about the Taxpayers who did not avail of the QRMP Plan are required to aim for two monthly returns along with one yearly return as published under the GST System. 
• QRMP filers must submit nine GSTR files annually, including two GSTR-I and three GSTR-3B, followed by an annual return. It is to be noted that QRMP filers have to submit their returns quarterly, with them paying those taxes every month. 
• GST Returns Annual Filing should also specify returns based on conditions, based on needs.

The benefits of GST Return Filing consist of the following factors, which are as follows-

• Easy step for e-commerce businesses or startups

Paying taxes for businesses and startups has become a more straightforward process without any significant obstacles. It is worth noting that the e-commerce sector has faced various tax laws across different states, but with the implementation of GST, these issues have been resolved.

• Encourages creditworthiness

Filing GST returns has become easier, increasing the creditworthiness of your business, while encouraging you to seek loans or credit facilities from financial institutions.

• Ensures Compliance

With GST annual filing, you can ensure compliance with laws and regulations, without falling into any legal scandals.

• Transparency

You can ensure transparency with business transactions by filing GST returns. There is no room for any errors or discrepancies within these recorded transactions.

Proprietorship/Individual

• PAN card and Identity Proof of the Individual
• Copy of cancelled cheque or bank statement
• Declaration to comply with the provisions 

Registered Office Documents

• Copy of electricity bill/landline bill, water bill
• Rent agreement (for rented premises)
• NOC (No Objection Certificate) of the owner

In the case of Private Limited | Public Company | Person Company (OPC) Company Documents:

• PAN card of the company
• Registration Certificate of the company
• Memorandum of Association (MOA) /Articles of Association (AOA)
• Copy of Bank Statement
• Copy of Board Resolution

Documents Related to Director:

• PAN and ID (Identity Proof) of Directors

Documents for Registered Office:

• Copy of electricity bill/landline bill, water bill
• Rent Agreement (for rented premises)
• NOC (No Objection Certificate) from the owner

In the case of Partnerships Documents for Partnership:

• PAN card of the Partnership
• Partnership Deed
• Copy of Bank Statement

Partner-Related Documents:

• PAN and ID proof of designated partners

Documents Required for Registered Office:

• Copy of electricity bill/landline bill, water bill
• Rent Agreement (for rented premises)
• NOC (No Objection Certificate) from the owner

In the case of Limited Liability Partnerships (LLP):

• PAN card of the LLP
• Registration Certificate of the LLP
• LLP Partnership agreement
• Copy of Bank Statement of the LLP
• Declaration to comply with the provisions
• Copy of Board Resolution

Designated Partner-Related Documents

• PAN and ID proof of designated partners

Registered Office Documents

• Copy of electricity bill/landline bill, water bill
• NOC of the owner
• Rent agreement (for rented premises)

Photographs (wherever mentioned in the Application Form)

The below-mentioned persons are supposed to provide their photographs:

• In a Proprietary Concern - The proprietor
• In a Partnership Firm / LLP - Managing/Authorized/Designated Partners
• HUF - Karta
• Company - Managing Director or the Authorized Person

Business Registration Document/Constitution of Taxpayer

• Every entity should submit proof of business registration except proprietorship. The reason is that the proprietor and proprietorship are seen as the same legal entity.
• A partnership deed is required in the case of a Partnership firm.
• Registration Certificate/ Proof of Constitution is required for entities such as Society, Government Departments, trusts, Local Authorities, clubs, Statutory Bodies, Associations of Persons or Bodies of Individuals and others.
• An Incorporation Certificate from MCA (Ministry of Corporate Affairs) is needed in the case of an LLP or company.
• Address Proof for Principal/Additional Place of Business
• You have to provide Address Proof for every place of business stated in the GST registration application. You can submit the below-mentioned documents as Address Proof:
• In the case of own premises
• You can furnish the latest Property Tax Receipt, Municipal Khata copy or a copy of the Electricity Bill.
• In the case of rented or leased premises
• You have to provide a copy of the valid rental agreement along with any document in support of the ownership of the premises such as the latest Property Tax Receipt, Municipal Khata copy or a copy of the electricity Bill.
• In case you do not have a rental agreement or lease deed, then an affidavit to that effect along with any document in support of the possession of the premises such as a copy of the electricity bill is what you need.
• In the case of SEZ (Special Economic Zone) Premises
• If your principal place of business is in the SEZ zone, then you will have to attach documents/certificates issued by the Government of India.

In the case of others

• You require a copy of the consent letter of the owner of the premises with any document in support of the ownership of the premises of the Consenter like a Municipal Khata copy or an Electricity Bill copy.  These documents apply to shared properties too.

Proof Related to Bank Account

• A scanned copy of the first page of the bank passbook
• Opening page of bank passbook held either in the name of the proprietor or business concern having the following:
• Account Number
• Name of Account Holder
• MICR, IFSC and branch details

Digital Signature Certificate (DSC)

Every application for GST Registration requires a Class 2 Digital Signature.  A person, who is authorized to sign the GST registration application, should possess Digital Signature before starting the application process. The following people are required to have a valid Class 2 Digital signature and are the signing authorities:

Format of GSTIN: 22 AAABB1122C 1 Z 1

The first two digits are for state code 2. The next 10 alphanumeric numbers are PAN number 3. The next 1 digit is the entity number of the same PAN holder in a state4. The next alphabet is by default “Z”5. The Last digit is a checksum digit

The procedure for GST Registration Annual Filing is as follows-

• Step 1:- Connect with the Corpseed team

Firstly, contact Corpseed as your one-stop solution provider.

• Step 2:- Meet Our Experts

Secondly, Corpseed will align a dedicated professional to help you with the GST Registration Annual Filing

• Step 3:- Filing of application

Thirdly, our team of experts will guide you throughout the application process. 

• Step 4:- Obtaining GST Registration certificate

Once you have adhered to the process and complied with the regulations, it is only then, that you become eligible for a GST registration certificate. 

• Step 5:- Follow-up with authorities

After fulfilling the requirements, you will receive the certificate, where you may follow up with the authorities and Get GST registration in 3 days by meeting your business compliance.

Hence, such is how GST Registration annual Filing would be completed.

If you need GST Registration Annual Filing, Corpseed is here to assist you. Our team is dedicated to providing exceptional solutions with a commitment to quality. With extensive expertise and years of experience, we have become experts in this field. We believe that settling for anything less than the best is not an option. Let us guide you towards a successful Registration. Contact us today and let us help you achieve your goals.