Posted by Goods and Services Tax (GST) is an indirect tax levied on supplies of goods and services across India. GST has simplified the taxation structure and brought different taxes under one umbrella.
Registering for GST is vital for businesses as it allows them to lawfully collect and pay GST to the government. The process and document requirements for GST registration vary based on the type of business structure.
Delve in to explore all the documents required for GST registration for different business structures.
Documents Required for Different Business Structures
Private Limited Company/Public Limited Company
Private Limited Companies and Public Limited Companies are distinct legal entities that require GST registration when their aggregate turnover crosses the specified threshold limit. GST registration is crucial for these entities to comply with tax regulations and operate seamlessly. The GST registration documents for such companies include the following:
- Certificate of Incorporation: A copy of the certificate issued by the Registrar of Company.
- Memorandum and Articles of Association: The company’s MOA and AOA define its structure and operations.
- PAN of the Company: The company should have its PAN card.
- Board Resolution: A resolution passed by the company’s board for GST registration.
- Details of Directors: PAN, Aadhaar, and photographs of all directors of the company.
- Bank Account Details: The company’s bank account information.
- Business Address Proof: Proof of the registered office’s address.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a unique business structure since it combines the features of a company and a partnership. LLPs offer limited liability protection to partners and are governed by the Limited Liability Partnership Act 2008. The GST registration documents for LLPs include:
- LLP Registration Certificate: A copy of the certificate issued by the Ministry of Corporate Affairs.
- LLP Agreement: Details of partners, their contributions, and profit-sharing ratios.
- PAN card of the LLP.
- Partners’ PAN and Aadhaar: PAN and Aadhaar details of all partners.
- Bank Account Details: Bank account information of the LLP.
- Business Address Proof: Proof of the registered office address.
Partnership Firm
A partnership firm is a business structure where two or more individuals join forces to run a business and share profits and losses.
GST registration becomes mandatory for partnership firms when their aggregate turnover crosses the prescribed threshold limit. Let’s explore the document requirements for GST registration for a partnership firm:
- PAN Card of the Firm: The partnership firm should have its PAN card.
- Partnership Deed: A copy of the partnership deed, including details of partners and profit-sharing ratios.
- Aadhaar Card and PAN of Partners: Aadhaar and PAN details of all partners are required.
- Bank Account Details: Bank account information of the partnership firm.
- Business Address Proof: Proof of the business’s registered address.
- Passport-size Photographs: Passport-size photos of all partners.
Sole Proprietorship
A sole proprietorship is one of the simplest forms of business structures, wherein an individual owns and manages the business. Sole proprietors can operate under their own name or choose a trade name for their business.
Regardless of the name chosen, GST registration becomes mandatory when the turnover crosses the prescribed threshold.
The following documents are typically required for GST registration:
- PAN Card of the Proprietor: The proprietor’s Permanent Account Number (PAN) is mandatory for GST payment registration.
- Aadhaar Card: Aadhaar card serves as identity and address proof for the proprietor.
- Bank Account Details: Bank account details, including a canceled cheque or bank statement, are required.
- Business Address Proof: Documents like electricity bills, rent agreements, or property tax receipts are proof of business address.
- Passport-size Photograph: A passport-size photograph of the proprietor is necessary.
Hindu Undivided Family (HUF)
A Hindu Undivided Family (HUF) is a unique business structure recognised under Hindu law, where multiple generations of a family come together to conduct business as a single unit. The required documents for HUF’s GST registration include the following:
- PAN of the HUF: Permanent Account Number of the HUF.
- Declaration: A declaration stating the name of the Karta and other family members.
- Karta’s PAN and Aadhaar: PAN and Aadhaar details of Karta.
- Bank Account Details: Bank account information of the HUF.
- Business Address Proof: Proof of the business’s address.
Conclusion
Whether it’s a sole proprietorship, partnership firm, private/public limited company, LLP, or HUF, each entity must provide specific documents to complete the GST registration process.
In this regard, consulting with a tax professional or GST payment expert can help companies streamline the registration process and ensure the accurate submission of documents in the long run.