GST (Goods and Service Tax) is a sum of money that companies have to pay to the government of India upon selling goods or services. Whether an individual is conducting a business, primarily in the form of a partnership company, then registering GST is an essential requirement if the business needs to be conducted according to law and benefit by way of taxation.
Therefore, through this guide you will be getting illuminated with regards to everything with GST registration on partnership firms as well as on LLPs in relation to Guwahati, Assam.
Why is GST Registration Necessary for Partnership Firms?
If you have a partnership firm or an LLP in Guwahati, Assam, you are required to register for GST if:
- There is a turnover exceeding Rs. 20 lakhs (for services) or Rs. 40 lakhs (for goods).
- There are interstate sales of goods or services.
- You want to claim input tax credit and reduce tax liability.
Registration of GST for the partnership firm refers to taking the tax laws into account, which thereby helps build confidence among customers and suppliers alike.
Going Through GST Registration of Partnership Firm Online
For a partnership firm, the process for online GST registration is rather easy.
Step 1: Collect the Required Documents
Before you begin, keep the following documents ready:
- PAN Card of the partner firm
- PAN and Aadhaar of the partners
- Partnership deed certified copy
- Proof of business address: electricity bill, rent agreement, etc.
- Bank account statement of partnership firm
Step 2: Create an Account at GST Portal
Access the official GST website and click on New Registration.
Step 3: Fill the Online Form
Simple input of your business details, like PAN, business name, type (partnership firm/LLP), and address.
Step 4: Document Uploading
Upload all documents in the required formats.
Step 5: OTP Verification
An OTP will be sent to your registered mobile number and email ID. Enter the OTP to move further.
Step 6: Receive GST Certificate
After the verification process, you would receive your GSTIN (GST Identification Number) in a few days. Your GST LLP registration in Guwahati, Assam, is now complete!
Benefits of Registering for GST for Partnership Firms
- Legal recognition: Makes your business legally compliant.
- Tax Benefits: Claim input tax credit to reduce tax expenses.
- More Business Opportunities: Helps in selling goods and services across India.
- Better Credibility: Builds trust among customers and suppliers.
Conclusion
To acquire GST registration in Guwahati is obligatory for every partnership firm or LLP to operate smoothly and lawfully. Just by following the aforementioned small steps, you can complete the whole task without a hitch.
Contact Regible Corporate Advisor LLP for expert assistance in online GST registration for a partnership firm. Our professionals will guide you through the entire process for an excellent registration experience.
