GST Registration of a Partnership Firm/ LLP

Get To Know About The GST Registration Of A Partnership Firm/ LLP

Online Legal India LogoBy Online Legal India Published On 21 Oct 2022 Updated On 06 Jan 2023 Category GST

A verbal or written agreement or deed may be used in India to establish a partnership firm or an LLP. The capital, profits, and losses will be divided among the partners in accordance with the terms of this agreement. Businesses must provide the partnership or LLP deed as evidence of their legal status for the purpose of GST compliance. Additionally required is the acquisition of a GST Registration. The steps involved in applying for GST registration for partnerships and limited liability companies, as well as the paperwork needed, are covered in this article. But let's start with their definitions first!
 

Who must Obtain GST Registration?
 

According to the GST Act of 2017, businesses engaging in intrastate sales of goods with a combined annual turnover of more than Rs. 40 lakhs or intrastate sales of services with a combined annual turnover of more than Rs. 20 lakhs are required to register for GST. The specified turnover limitations for special category states are Rs. 10 lakhs for the sale of services and Rs. 20 lakhs for the sale of commodities.
 

In addition, the following businesses—regardless of their annual revenue—must register for GST and earn a unique 15-digit GSTIN:
 

  • Individuals and companies engaged in the sale of goods and services across state lines.
     
  • Persons subject to tax who don't live in the United States.
     
  • Those who are entitled to a tax break under Section 37
     
  • Those who deliver products and services on behalf of another registered taxpayer as an agent or in any other manner
     
  • People that provide input services
     
  • Online store owners
     
  • Those who aggregate and sell their goods or services under a different name or brand.
     

Relevant Documents for GST Registration:
 

In general, the applicant must provide the following documents in order to register for GST.
 

  • Card PAN
     
  • A business registration certificate
     
  • Applicant's identity documentation
     
  • Applicant's address verification
     
  • Applicants' pictures
     
  • Details about the applicant's bank account. The applicant may submit bank account information in the form of bank statements, blank checks, or bank passbooks.
     

Additional documentation can also be needed, depending on the nature and kind of the firm applying for GST registration. Let's find out exactly what paperwork a partnership firm and an LLP need to register for GST.
 

Documents Needed for GST Registration of Partnership Firms:
 

To benefit from the input tax credit, a partnership firm must register for the Goods and Services Tax. On the GST's official website, you can submit an online application for GST registration. The following paperwork is needed to register a partnership firm:
 

  • PAN cards, ID documentation, and coloured photos of the partners who are authorised to sign the application are required.
     
  • A copy of the registered office address accompanied by utility bills, such as phone, water, gas, or electricity bills, or a bank statement, attesting to its accuracy.
     
  • A lease or other property paperwork
     
  • Certificate of No Objection (NOC) from the property owner
     
  • A copy of the partnership contract
     
  • The company's bank information can be found on a copy of a bank statement, a check that has been voided, or the cover of the bank passbook.
     

Documents Needed for an LLP to Register for GST:
 

To benefit from the input tax credit, a Limited Liability Partnership needs to register for the Goods and Services Tax. On the GST's official website, you can submit an online application for GST registration. The following paperwork is needed to register a limited liability partnership:
 

  • A replica of the LLP registration certificate
     
  • Coloured images of the spouse who has the application's signature authority
     
  • Letter of authorisation
     
  • The Partners' Resolution Copies
     
  • Evidence of the main office or location (if owned)

  • Electricity Bill
     
  • Copy of Khata Municipality
     
  • Copy of Property Tax Receipt
     
  • Evidence of the primary business location (If rented)
     
  • a certified copy of the lease, with seal and notary
     
  • Gas, water, electricity, phone, and other utility bills
     
  • Receipt for Municipal Khata
     

Conclusion

You can easily get in touch with one of our highly skilled and knowledgeable GST consultants to assess the requirements for your company's GST compliance. They will then support you through every step of the GST registration process, from the application filing and documentation process to the Central Government's issuance of the GST registration certificate. Because all of our services are offered online, they are incredibly rapid, convenient, and transparent.

 


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