As all of us know, India is a highly attractive market for the non-residents to invest in and do their business. And if they are a non-resident and they plan to set up a business here. Then you must register under GST. In this article, we will discuss the process of GST for non-residents and the applicable forms for it.
Section 2(77) of the Central Goods and Services Act, 2017 (‘CGST Act’) defines Non Resident Taxpayer
Section-24 of the Central Goods and Services Act, 2017 (‘CGST Act’) deals with Special Provisions relating to Casual Taxable Person and Non-Resident Taxable Person |
1) Registration is valid for 90 days from date of issue (Section 24(1) ) 2) Advance payment of Tax Along with the application (Section 24(2) 3) at the time of submission of application for registration under subsection (1) of section 23, make an advance deposit of tax in an amount equivalent to the estimated tax liability of such person for the period for which the registration is sought Note the above process does not apply to OIDAR(Online Information and Database Access or Retrieval ) Services |
DSC & DIN of the directors (Directors Identification Number) is a unique 8 digit number that is allotted by the central government. DIN once allotted is valid for the time of a director until canceled, surrendered or deactivated. The documents required for application of DIN are as follows as per company registration
Passport size photograph of the applicant
Self-attested address proof of applicant
Self-attested PAN card of the applicant
DSC (Digital Signature Certificate) Any organization or firm can apply for a digital signature certificate for a transaction involving the MCA. if you already have a digital signature then you can use the same, no need to apply for another. agencies issues DSC'S with 1 or 2 years validity, after expiry you have to renew it. DSC is mandatory for company registration procedure.
AOA
Articles Of Association are documents required for company registration that specify the regulation for a company's operation and defines the company purpose. It also includes the process for appointing the directors and the handling of financial records.
MOA (Memorandum Of Association)
The Memorandum Of Association or MOA of a company is required for company registration defines the constitution and the scope of power of the company. It is a foundation on which company is built.
PAN & TAN In the company registration process, you have mandatory form for PAN and TAN. By using forms 49A for PAN and 49B for TAN. The system will automatically generate these forms after the submission of SPICe form.
Certificate Of Incorporation
A (COI) is a legal document relating to the formation of a company or corporation. it is a license to form a corporation issued by the state government or, in some jurisdictions, by non-governmental entity/corporation. Its provides documented proof that company registration is completed. More Details on COI
GST registration after company registration
It is a tax on sale, purchase, and services. it includes all taxes such as sales tax, service tax, excise duty, etc. Into one tax that is GST. it is a tax which is levied on almost all the businesses in India. A business or a company needs to pay GST if -
1. Their annual sales turnover is more than 20 lakhs.
2. They are making sales outside the state.
Even if the sales are less than Rs. 20 Lakhs, we advise you to opt for gst registration because of the following reasons You cannot sell outside your state
You will not get any tax refunds on purchases.