The taxes levied on the sale of products and services namely service tax, value-added tax, central sales tax, excise duty, and additional customs fee have all been replaced by the Goods and Services tax, introduced under the Goods and Services Act, which came into effect on July 1, 2017.
In India, anyone can create a partnership firm or an LLP on the basis of a verbal or written agreement or deed. This agreement specifies how the partners will divide the capital, profits, and losses among themselves. For the purpose of GST compliance, firms must furnish the partnership / LLP deed as the proof of their legal status. Obtaining a GST Registration is additionally necessary. This article discusses the application process for GST registration for Partnerships and LLPs, along with the documents required for the purpose. But, first, let’s get started with their meanings!
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Who must Obtain GST Registration?
Businesses engaged in intrastate sale of commodities with an annual turnover more than Rs.40 lakhs or the intrastate sale of services with an aggregate annual turnover more than Rs. 20 lakhs, are required to obtain GST registration under the GST Act, 2017. However, the turnover limits for special category states are prescribed as Rs.20 lakhs for goods sale, and Rs.10 lakhs for the sale of services.
Additionally, the following entities must obtain GST registration, regardless of their turnover and acquire a special 15-digit GSTIN:
- Individuals and businesses involved in interstate sale of products and services
- Taxable individuals who do not reside in the United States
- Those who qualify for a tax deduction under Section 37
- Those who act as an agent or in any other capacity to provide goods and services on behalf of another registered taxpayer
- Individuals who distribute input services
- E-commerce retailers
- Aggregators who market their products or services under a new name or brand
Relevant Documents for GST Registration
Generally, GST registration requires the following documents of the applicant.
- PAN card
- Certificate of business registration
- Applicant’s proof identity
- Applicant’s proof of address
- Applicant’s photographs
- Applicant’s bank account details. The applicant can provide their bank details via bank statements, blank cheques, or bank passbooks.
Also, depending on the nature and type of the business seeking to obtain GST registration, additional documents might also be required. Let’s find out precisely, what are the documents required for GST registration of a partnership firm and an LLP.
Documents Needed for GST Registration of Partnership Firms
A partnership firm must obtain the Goods and Services Tax registration in order to claim benefits from the input tax credit. You can apply for GST registration online on the official website of GST. The documents required for the registration of a partnership firm are as follows:
- PAN cards, ID proofs, and coloured photographs for the partners authorized to sign the application
- a copy of the registered office address verified by utility bills like telephone, water, gas, or electricity bills, or a bank statement
- A rent agreement / property documents
- No Objection Certificate (NOC) from the property owner
- Copy of the partnership deed / agreement
- Bank details of the firm through a copy of bank statement, a canceled check or the front page of the bank passbook
Documents Required for the GST Registration of an LLP
A Limited Liability Partnership must obtain the Goods and Services Tax registration in order to claim benefits from the input tax credit. You can apply for GST registration online on the official website of GST. The documents required for the registration of a Limited Liability Partnership are as follows:
- A copy of the LLP’s certificate of incorporation
- Coloured photographs of the partner authorized to sign the application
- Authorization letter
- Copies of the Partners’ Resolution
- Proof of the primary place of business (if owned)
- Electricity Bill
- Copy of Khata Municipality
- Copy of Property Tax Receipt
- Evidence of Main Place of Business (If rented)
- A copy of the rental agreement, stamped and notarized
- Electricity Bill / Phone bill / Water bill / Gas bill
- Municipal Khata Receipt
To assess the GST compliance requirements of your business, you can easily get in touch with our highly qualified and experienced GST consultants, following which they shall assist you in every single step of GST registration, beginning from the filing of the application, and the process of documentation, to the issuance of GST registration certificate by the Central Government. Our services are 100% online which makes it extremely quick, convenient, and transparent.
For further help, contact us right now!