GST registration is the process of registering with the Goods and Services Tax (GST) system in India. In Puducherry, the registration process is governed by the Union Territory Goods and Services Tax Act, 2017.
Types of GST registration in puducherry
There are three types of GST registration available in Puducherry – Regular, Composition and Casual.
Regular registration is required for businesses that make taxable supplies, or supplies in the course of inter-state trade. This type of registration is mandatory for all businesses whose aggregate turnover exceeds 20 lakhs in the previous financial year. The registration process is done online, and the applicant is required to submit relevant documents including the PAN card, proof of identity, proof of address and bank account details.
Composition registration is designed for small businesses whose turnover is below 20 lakhs. This kind of registration allows the business to pay a fixed rate of tax, which is lower than the regular GST rate. The rate is based on the nature of goods or services being supplied, and it is calculated differently for different goods and services. This type of registration is done online, and the applicant must submit the necessary documents.
Casual registration is for those businesses or individuals who make occasional supplies in Puducherry. This type of registration is valid for 90 days, and can be extended for a further 90 days if necessary. The registration process is done online, and the applicant must submit relevant documents including PAN card, proof of address and bank account details.
In addition to these three types of GST registration, businesses can also opt for voluntary registration. This is available to businesses or individuals who make occasional supplies in Puducherry, but whose aggregate turnover is below 20 lakhs. The registration process is done online, and the applicant must submit the necessary documents including PAN card, proof of identity and proof of address.
GST registration is an important compliance requirement, and it is important for businesses to understand the different types of registration available and the process of registration. In Puducherry, businesses can choose from regular, composition and casual registration. Each type of registration has its own benefits and requirements, and businesses should decide which type of registration is best for them based on their business needs.