Company GST Registration

Section: Section 22 of the Central Goods and Services Tax (CGST) Act, 2017.

Purpose: The purpose of company GST registration is to obtain a unique Goods and Services Tax Identification Number (GSTIN) that enables a company to collect and pay GST on its supplies.

Applicability: All companies engaged in the supply of goods or services or both with an aggregate turnover of more than Rs. 20 lakhs are required to register for GST. In case of companies engaged in the supply of goods, the limit of Rs. 20 lakhs is reduced to Rs. 40 lakhs for certain categories of states.

Timeline: A company is required to register for GST within 30 days from the date on which it becomes liable for registration.

Exemption: Companies engaged in the supply of goods or services or both with an aggregate turnover of up to Rs. 20 lakhs are exempted from GST registration. In case of companies engaged in the supply of goods, the limit of Rs. 20 lakhs is increased to Rs. 40 lakhs for certain categories of states.

Penalty not doing: Failure to register for GST can attract a penalty of 10% of the tax due or Rs. 10,000, whichever is higher.

Due Date: The due date for GST registration is within 30 days from the date on which a company becomes liable for registration.

Forms: The application for GST registration by a company is made through Form GST REG-01.

Reporting Authority: The reporting authority for GST registration of a company is the Central Board of Indirect Taxes and Customs (CBIC) or the respective state's Goods and Services Tax Department.

Other Details:

• The company is required to furnish details of its promoters, directors, and authorized signatories as part of the registration process.
• Upon registration, the company is required to maintain records of all its inward and outward supplies and file regular GST returns.