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GST Registration Fees in India: A Simple Guide

  • Setindiabiz Team
  • June 14, 2024

Since its introduction, GST has taken over the previous taxes applied on Goods, and Services. Due to several updates, it has still become a headache for the small as well as medium business owners. This blog demystifies GST registration in India, clarifying that while the government charges no fees, costs may arise from professional services. It emphasizes online registration’s ease and the importance of post-registration compliance.

BRIEF SUMMARY
India’s Goods and Services Tax (GST) system has revolutionized the tax structure, introducing a unified approach to indirect taxation. Understanding the intricacies of GST registration is crucial for businesses and individuals alike. This blog explores the various aspects of new GST registration fees, detailing the gst registration costs for different entities and scenarios.

What is GST Registration?

GST registration is an online process of enrolling a business or an individual as a recognized taxpayer under the GST regime. This enables them to collect GST and claim input tax credits. Registration with the GST Department is mandatory for businesses whose annual turnover exceeds ₹20 lakhs (₹10 lakhs for NE and hill states) or those involved in inter-state trade.

GST Registration Fees: The Reality

It’s essential to understand that the Indian government does not impose any GST registration charges, so you can say that the process is entirely free. However, technical expertise and knowledge of GST are crucial for successfully filing an application. If a taxpayer opts for assistance from a Chartered Accountant (CA) or Tax professional, their professional fee should be considered an additional cost.

GST Registration Fees by CA or Tax Practitioner

Many businesses and individuals seek professional help from CAs or GST practitioners for registration. These professionals charge varying fees based on factors like the case’s complexity, the business’s size and industry, and the professional’s reputation and location. Alongside CAs, other professionals and agencies offer GST registration services at fees ranging from nominal to premium based on the level of assistance provided.

Online GST Registration: A Cost-Effective Approach

The digital era has made GST registration more accessible and cost-effective. Businesses can register for GST online at www.gst.gov.in without incurring government fees. The GST portal guides applicants through creating a business profile and filling in a user-friendly form, simplifying the registration process.

Compliance Post-Registration

Post-registration, it’s essential for businesses to comply with regular GST filings and maintain accurate records. This ongoing compliance is crucial to avoid penalties and ensure smooth business operations.

Case Studies and Examples

For instance, a small business in Mumbai opting for professional help might incur a fee of around ₹5,000 to ₹10,000 for GST registration, while a larger enterprise might pay significantly more. These examples highlight the varying costs across different business types.

In conclusion, while the government does not charge for GST registration, potential costs can arise, primarily if professional services are availed. Businesses and individuals should balance the need for professional assistance with the simplicity of the online registration process. Navigating these nuances can help you make informed decisions regarding GST registration in India as well as determining new GST Registration fees!

Conclusion: A No-Cost GST Registration

FAQs

Q1: Who is eligible for GST Registration?

An individual or company is required to go for GST Registration, if they sell goods within the geographical boundaries of the state with annual turnover over Rs. 20 Lakh. However, in case of Service Providers, the turnover should be Rs 40 lakh.

Q2: What is the GST Number fee?

GST Registration fees vary depending upon the type of entity. Individuals have to bear lower fees, proprietorship firms have to pay a little higher fees while companies incur higher fees.

Q3: Can I run a company without GST?

If your company’s turnover doesn’t exceed the specified threshold, you don’t need a GST Number. In short, businesses with a turnover below Rs. 20 lakhs for Services and Rs. 40 lakhs for Goods, no GST Registration is required.

Q4: How is GST calculated?

For calculating GST Amount, you can use the following formula; 

 

GST Amount= (Selling Price x GST Rate/100)

 

In the above formula, the Selling Price is determined by adding Cost price and Profit Amount.

Q5: Do I need to file GST every month?

The regular taxpayers need to pay GST every month.
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