GST Registration In Bihar
GST registration in Bihar is mandatory for all the entities that buy or sell goods or provide services. Such entities are required to obtain the GSTIN. GST registration in Bihar is mandatory for all the entities, after the entity crosses the minimum threshold turnover or when the business is expected to cross the prescribed turnover. The tax complexities have reduced considerably as the multiple taxes are now abolished and subsumed into a single system under GST.
What are the different types of GST registration in Bihar?
There are different types of GST registration in Bihar depending on the kind of business they are undertaking and the location where the goods and services are to be supplied.
- Normal Scheme: Taxpayers operating in Bihar come under this category. The taxpayers who get GST registration in Bihar under the Normal scheme are not required to deposit any amount and are also provided with unlimited validity dates.
- Non-resident taxable person: This GST Registration in Bihar can be obtained by a person who is residing outside India and is supplying goods and services for the residents in India. This GST registration is active for 3 months.
- Casual taxable person: A taxpayer that carries business occasionally or seasonal shops has to get GST Registration in Bihar as a casual taxable person. The taxpayer has to pay a deposit equal to the amount of GST liability. This registration is active for 3 months.
- Composition Scheme: An entity under the composition scheme has to enroll as a composition taxpayer. A taxpayer with a turnover of less than Rs.1.5 crore can avail of this scheme. However, entities under the composition scheme cannot claim the input tax credit.
Documents to be submitted for GST registration in Bihar
To obtain GST registration in Bihar the following documents need to be submitted:
- PAN Card of the business: A PAN card must be obtained for the legal entity before getting GST registration in Bihar as the GST Registration is linked to the PAN.
- Identity proofs of the applicant: The identity proofs such as PAN, Aadhar, driving license, etc need to be submitted along with the photograph of the applicant.
- Address proof: The Ration card, voter ID can be submitted as address proof.
- Business registration document: The business registration document has to be submitted for obtaining GST registration. The incorporation of the LLP, Company needs to be submitted for GST Registration. In the case of proprietorship, no document is to be submitted. As the proprietor and the entity are considered to be the same.
- Business location proof: Address proof of all the places of the business has to be mentioned.
- Bank account proof: The Scanned copy of the first page of the bank passbook or the relevant page of the bank statement or a scanned copy of the canceled cheque that has the name of the proprietor or the business entity, bank account no, MICR, IFSC and branch details need to be submitted.
For GST registration in Bihar talk to our experts at IndiaFilings.