Company Registration in India - Simplified Overview
Businesses need to register for GST (Goods and Services Tax) based on their sales. If a business sells goods or offers services and its total sales exceed Rs. 40 Lakhs in a year (or Rs. 20 Lakhs in some cases), it must register for GST. For businesses in the North Eastern States, these limits are lower: Rs. 20 Lakhs and Rs. 10 Lakhs, respectively. Some businesses also register voluntarily to enjoy the benefits of GST.
In India, registering for GST is done completely online. This helps businesses manage their Input Tax Credit easily and gets them recognized as registered suppliers.
Who needs GST Registration?
Every business that buys, sells, or provides services needs to register for GST. It’s required if your annual income is over Rs. 20 lakhs for services or Rs. 40 lakhs for goods.
Businesses that sell goods across state lines must also register for GST. The same applies to businesses like agents and brokers who provide services on behalf of others.
Documents Required for online company registration
Here’s a simpler version of the required documents for GST registration for different business types:
- For Proprietorship:
- For LLP (Limited Liability Partnership)
- For Private Limited Company
- Address proof options for directors
- Identity proof
- Address proof
