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Documents Required for GST Registration

Goods and Services Tax or GST was introduced by the Indian government on 1st July 2017 to streamline the different types of tax collection. GST brought together numerous taxes levied by businesses for a simpler assessment and collection. In India, businesses offering any kind of goods and services that crosses a certain revenue threshold have to get a GST registrationRead More

Whether or not your business needs a GST registration depends on the turnover generated. If businesses where GST registration is mandatory, are operated without GST registration, it becomes an offence, and you can be heavily penalized. Let’s delve into the details of GST registration, like the application process, documents for GST registration, etc., to help you navigate through the process easily.Read Less

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Written ByShruti gujarathi
AboutShruti gujarathi
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Shruti gujarathi has 5 years of experience in the BFSI sector, and as Manager- Digital Marketing at Bajaj Allianz Life Insurance, manages digital and content marketing. She has had hands-on experience in content strategy, performance marketing and Strategic Alliances over a career spanning 10 years.
Reviewed ByRituraj Singh
AboutRituraj Singh
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Rituraj Singh,With over 6.5 years of experience in the insurance industry, Rituraj Singh, Manager- Product & Brand Marketing at Bajaj Allianz Life Insurance overlooks new product launches, compliance, and brand projects, leveraging artificial intelligence and technology to enhance outcomes.
Written on: 18th Feb 2025
Modified on: 19th Feb 2025
Reading Time: 15 Mins
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What is GST registration?
 

Let’s first understand what GST registration is. A business offering goods and services in any state in India has to get itself registered as a normal taxpaying entity if it crosses a certain prescribed revenue threshold.

Know that a business engaged in offering goods that crosses an annual turnover of 40 lakhs, a business dealing with services crossing the annual turnover of 20 lakhs and businesses in specific/listed states crossing an annual turnover of 10 lakhs have to get a GST registration, mandatorily. In addition to this, for any business to offer their goods and services on any e-commerce platform, obtaining a GST registration is mandatory, regardless of the revenue threshold.1

Once a business obtains GST registration, a 15-digit GST identification number or GSTIN is provided. This unique identification number is provided to ensure a smooth functioning tax assessment and collection. Additionally, obtaining a GST number also allows businesses to avail of input tax credits for incoming supplies.1


Do you need a GST registration
?
 

Remember that obtaining a GST registration is mandatory for business owners who cross a certain prescribed revenue threshold. In addition to this, if you come under the below-mentioned list, a GST registration is mandatory irrespective of the revenue threshold:1

 

  • If you are an individual registered under pre-GST law, such as excise, VAT, etc.,
  • If you are an agent dealing with supply & Input service distributor
  • If you are an individual paying taxes under the reserve charge mechanism
  • If you are an individual liable to pay taxes or a non-resident taxable person.
  • If you are a person who supplies via an e-commerce aggregator
  • If you are involved in the supply of goods or services through e-commerce aggregators.
  • If you are an e-commerce aggregator
  • If you have a business engaged in offering goods that crosses an annual turnover of 40 lakhs, or services crossing the annual turnover of 20 lakhs or have a business in specific/listed states crossing an annual turnover of 10 lakhs.
  • If you are an individual dealing with the supply of online information and database access or retrieval services from a place outside India to a person in India (Excluding a registered taxable person).
     

Documents needed for GST registration
 

Applying for a GST registration is mandatory for individuals and businesses belonging to different categories as prescribed. Therefore, the process, documents required for GST registration, etc., have been kept simple. Here’s a list of documents that you need to obtain GST registration:1

  • PAN card
  • A document showing business registration or an incorporation certificate
  • Aadhar card
  • A document showing identity and address proof of promoters/ directors of the business.
  • Photographs of promoters/directors
  • Documents of business identification like address proof of the place of business.
  • Digital signature of the applicant
  • Bank account statement
  • A cancelled cheque
  • A letter of authorization or board resolution is required for the authorized signatory.
     

Failure to get GST registration: What you need to know
 

You must understand by now that applying for GST is mandatory if you fall under any of the above-mentioned categories and GST registration requirements. But what happens if you fail to get a GST registration? Know that failing to obtain GST registration puts you under penalties stipulated for evading taxes. For instance, If the total tax burden is above ₹1 lakhs, then 10% of the amount is charged as a penalty for not paying taxes or inadequate payment subject to a minimum of Rs 10,000. However, if it is proved that the tax evasion was intentional, then the entire amount can be charged as a penalty.1


GST registration: What is in it for you?
 

Obtaining a GST registration has multiple benefits for every taxpayer, whether it is a natural person or a legal person. Let’s take a look at some of the benefits of GST registration: 2

  • No more cascading effect

    Prior to the introduction of GST, businesses and individuals suffered from double taxation at every step, which is called the cascading effect. GST has eliminated this by streamlining all the taxes under one umbrella.

  • Streamlined tax assessment and collectionHigher tax threshold

    Under the earlier VAT system, businesses with a turnover exceeding ₹5 lakh (varied between by states) had to pay VAT. Service tax was exempt for service providers with a turnover below ₹10 lakh.

    With GST, the threshold has increased to ₹20 lakh, providing exemption to many small traders and service providersGST has ensured that the tax assessment and collection process is streamlined. Every state has its defined jurisdiction and control over tax collection. Additionally, businesses benefit from the streamlined assessment of tax, as well.

  • Benefits of composition scheme

    The GST composition scheme has multiple advantages for businesses registered under the scheme. For instance, Small and medium enterprises registered under the scheme with an annual turnover of  less than ₹20-50 lakhs1 crore can enjoy lower tax rates.

 

Over to you Conclusion
 

Registering for GST has been made mandatory to create a well-structured and streamlined tax assessment and collection system. If you have a GST registration, you can pay taxes smoothly and enjoy benefits by filing income tax returns. The application process is online simple, and you do not have to pay any additional cost to obtain a GST number or GSTIN1.
 

FAQs
 

  1. What is GST registration?3


    A business offering goods or services in any Indian state has to get itself a GST registration if it crosses a certain revenue threshold. The business gets a 15-digit GSTIN or GST number after the registration is complete.
     

  2. Is GST registration mandatory for every business?

      
    GST registration is mandatory for any business goods that crosses an annual turnover of ₹40 lakhs (for goods ) in all states ₹20 lakhs in special category states along with , a business dealing with services crossing an annual turnover of ₹20 lakhs in all states and and businesses in specific/listed states crossing an annual turnover of ₹10 lakhs and above in special category states4GST registration is mandatory for the following individuals, regardless of their turnover5: those making inter-state taxable supplies, casual taxable persons, persons under the reverse charge mechanism, electronic commerce operators, non-resident taxable persons, persons required to deduct tax under section 51, persons making taxable supplies on behalf of others, input service distributors, providers of online information and database services from outside India to non-registered persons in India, and any other persons notified by the Government based on GST Council recommendations

     

Source

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The views stated in this article are not to be construed as investment advice and readers are suggested to seek independent financial advice before making any investment decisions. The views expressed in this article is not to be construed as professional advice and users are advised to seek independent professional/expert advice before making any decisions based on the same.  For more details on risk factors, terms and conditions please read the sales brochure & policy document (available on www.bajajallianzlife.com) carefully before concluding a sale. The views stated in this article are not to be construed as investment advice and readers are suggested to seek independent financial advice before making any investment decisions. Bajaj Allianz Life Insurance Company Ltd., Regd. office Address: Bajaj Allianz House, Airport Road, Yerawada, Pune - 411006, Reg. No.: 116, CIN: U66010PN2001PLC015959, Call us on toll free No.: 1800 209 7272, Mail us: customercare@bajajallianz.co.in

 

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*Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.

~Individual Death Claim Settlement Ratio for FY 2023-2024

1Premium Holiday has to be selected at inception to avail this benefit and also depends on other policy terms & conditions


Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116

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I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) or on National Do Not Call Registry (NDNC), any call made, SMS or WhatsApp sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business

 

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%%Above illustration is for Bajaj Allianz Life eTouch- A Non Linked, Non-Participating, Individual Life Insurance Term Plan (UIN: 116N172V03) considering Male aged 25 years | Non-Smoker | Policy Term (PT)– 30 years | Premium Payment Term (PPT) – 30 years | Sum Assured opted is Rs. 1,00,00,000 | Online Channel | Standard Life | 1st Year Premium is Rs. 6,238. 2nd Year onwards premium is Rs. 6,659. Total Premium Paid is Rs. 1,99,349 | Medical Rates | Yearly Premium Payment Mode | Death benefit opted is lumpsum payout and monthly installments (Lumpsum Payout Percentage : 45, Income Payout Percentage : 55) | Premium shown above is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws, and any extra premium and is for illustrative purpose only. This is inclusive of all the discounts mentioned above.

##Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.Above Tax benefit is calculated considering deduction of Rs. 150,000 and applicable tax rate of 31.20%.

@Term Insurance plan bought online directly from Bajaj Allianz Life Insurance has no commissions involved.

^^The Return of Premium amount is total of all the premiums received, exclusive of extra premium, rider premium and GST & /any other applicable tax levied, subject to changes in tax laws
Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116

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Bajaj Allianz Life eTouch- A Non Linked, Non-Participating, Individual Life Insurance Term Plan (UIN: 116N172V04)

*Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.Above Tax benefit is calculated considering deduction of Rs. 150,000 and applicable tax rate of 31.20%.

~Individual Death Claim Settlement Ratio for FY 2023-2024

1Premium Holiday has to be selected at inception to avail this benefit and also depends on other policy terms & conditions


Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116


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^Subject to Section 10 (10D) conditions i.e. aggregate annual premium for ULIP policies issued on or after 1st February 2021 does not exceed Rs. 2.5 Lakhs.

1Minimum premium mentioned is applicable for Bajaj Allianz Life Goal Assure IV - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L204V01) and is subject to policy terms and conditions.

#Source: https://economictimes.indiatimes.com/investments-marts/eight-crucial-numbers-to-ensure-financial-success/10-times-the-annual-income-is-your-life-insurance/slideshow/16699748.cms . Subject to availability in Bajaj Allianz Life ULIP Plans. For more details on risk factors, terms and conditions please read sales brochure & policy document (available on www.bajajallianzlife.com ) carefully before concluding a sale.

*Benchmark: Nifty 500 Multicap Momentum Quality 50 Index past 5 CAGR Returns, as on 31st December 2024. Past returns of a fund are not necessarily indicative of the future performance of the fund. | Please consult the financial advisor before investing.

The Unit Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender or withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end of the fifth year.

ULIPs are different from the traditional insurance products and are subject to the risk factors. The premium paid in ULIPs are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Bajaj Allianz Life Insurance Company Limited is only the name of the Life Insurance Company and Bajaj Allianz Life Future Wealth Gain IV - A Unit- linked Non- Participating Individual Life Savings Insurance Plan (UIN:116L202V01), Bajaj Allianz Life Goal Assure IV - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L204V01), Bajaj Allianz Life LongLife Goal III is A Unit-linked Non-Participating Whole Life Insurance Plan (UIN:116L203V01), Bajaj Allianz Life Invest Protect Goal III - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L205V01), Bajaj Allianz Life Magnum Fortune Plus III - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L207V01), Bajaj Allianz Life Goal Based Saving III - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN:116L206V01) and Bajaj Allianz Life Smart Wealth Goal V - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L201V01) are only the name of the unit linked insurance contracts and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document issued by the insurance company. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns. For more details on risk factors, terms and conditions please read sales brochure & policy document (available on www.bajajallianzlife.com ) carefully before concluding a sale.

Nifty 500 Multicap Momentum Quality 50 Index Fund is available Bajaj Allianz Life Future Wealth Gain IV - A Unit- linked Non- Participating Individual Life Savings Insurance Plan (UIN:116L202V01), Bajaj Allianz Life Goal Assure IV - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L204V01), Bajaj Allianz Life LongLife Goal III is A Unit-linked Non-Participating Whole Life Insurance Plan (UIN:116L203V01), Bajaj Allianz Life Invest Protect Goal III - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L205V01), Bajaj Allianz Life Magnum Fortune Plus III - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L207V01), Bajaj Allianz Life Goal Based Saving III - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN:116L206V01) and Bajaj Allianz Life Smart Wealth Goal V - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L201V01)

In addition to the already existing funds, Nifty 500 Multicap Momentum Quality 50 Index Fund is now available with the above mentioned products. Customer has an option to choose from other available funds apart from Nifty 500 Multicap Momentum Quality 50 Index Fund.

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I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) or on National Do Not Call Registry (NDNC), any Call made, including via Voice over Internet Protocol & WhatsApp, SMS or WhatsApp messages, in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business

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